NIS, EFFA management sign MoU to reposition sports economy

The National Institute for Sports (NIS) has reiterated its commitment to aligning with President Bola Tinubu’s Renewed Hope Agenda to diversify the nation’s sports economy.

The Director-General of NIS, Philip Shaibu, said this on Tuesday in Abuja during the signing of a Memorandum of Understanding (MoU) between the institute and EFFA Management Ltd., a private firm.

Shaibu said collaboration with the private sector was imperative, given the Tinubu administration’s interest in repositioning sports under the Renewed Hope Agenda.

He said diversification of the sports economy would be difficult to achieve if the institute relied solely on government funding, which he described as inadequate.

“The President gave us a mandate to introduce the Renewed Hope Agenda to NIS and ensure that the institute returns to its core mandate.

“In line with that mandate, we decided to engage the private sector because government funding, as far as NIS is concerned, is at its lowest point.

“We are also in discussions with other agencies and private partners across various fields to explore areas of support.

“The support could be in terms of facility upgrades, maintenance, curriculum development and other areas.

“We require partnerships that will ensure sustainability,” Shaibu said.

Also speaking, the Director of EFFA Management Ltd., Olumide Fakeyeye, expressed optimism that the partnership would yield positive results in the coming years.

Fakeyeye commended the Federal Government’s renewed focus on sports, noting that it inspired the company’s decision to partner with the institute.

He said Nigeria possessed enormous sports talent but lacked adequate environments for proper development.

“Initiatives like this, supported by a visionary leadership, are helping to bring the right people together to unlock the potential in Nigerian sports,” Fakeyeye said.

A Principal Consultant to NIS, Remu Majiroh, said the partnership would have far-reaching implications beyond athletic performance.

According to Majiroh, the initiative is expected to address youth unemployment, noting that sports could potentially provide employment opportunities for between 15 million and 20 million Nigerians across its value chain.

“This includes athletes, coaches, support staff, merchandise, infrastructure and other related services.

“The only way to drive this process and achieve these goals is through sustained private sector investment and partnerships,” he said.