Federal government has revealed plans to pursue a lottery trust fund that is specific to sports in order to significantly bolster funding for the sector.
Sports development minister, Senator John Enoh, disclosed this while outlining his vision for financing and sustainable funding to elevate Nigeria’s sports new heights.
“Part of the funding models and ideas the Ministry of Sports Development is trying to work on, is on trying to explore the possibilities of having a lottery trust fund that is specific to sports,” Senator Enoh said.
“In other developed climes, there is a dedicated lottery trust fund for sports. This does not mean we do not have a right or a claim to the lottery trust fund.”
“Some years back, when this trust fund was put in place, there may not have been an appreciation of the kind of role and contribution that sports was going to make in terms of the development of this trust fund. Several years later, the present contribution of sports to that fund is more than any other sector and I think the Ministry is going to keep on engaging with the leadership of the lottery trust fund and see what benefits we can have from that fund.”
According to the minister in a press statement from his media office on Sunday, the dedicated fund will serve as a catalyst for change, empowering athletes, fostering grassroots development and enabling the modernization and upgrading of sports infrastructure nationwide.
“The Ministry of Sports anticipates that the establishment of the Lottery Trust Fund for sports will signify a transformative milestone in the pursuit of sporting excellence and will solidify Nigeria’s position as a powerhouse in the world of sports,” Enoh stated.