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FEC allocates N140bn to youth & sports ministry in national development plan

FEC allocates N140bn to youth & sports ministry in national development plan
November 11
12:23 2021

The federal executive council (FEC) has allocated N140 billion to youths and sports development in the national development plan (NDP) for 2021-2025.

The council had approved the NDP with an investment size of N348.7 trillion on Wednesday at a weekly meeting presided over by Vice-President Yemi Osinbajo.

Sports development was allocated N80 billion over a period of four years in the approved plan.

This approval will be the first time that sports is included in the plan as a business.

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The ministry of youth and sports development is now on the national steering committee of the national development plan.

The approval followed the reclassification of sports as business by President Muhammadu Buhari in 2020.

In the economic recovery and growth plan (ERGP) 2017-2020, sports was totally excluded and ended up with zero budget.

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The reclassification of sports as business and not mere recreation paved the way for sports in the national development plan.

The NDP also gave youth development a N60 billion boost.

This allocation is earmarked for youth development focusing on building a robust MSME growth, entrepreneurship and overall  human capital development which are now classified as social development.

The second boost for this new budget is the efforts by the ministry to deliver a national sports industry policy (NSIP).

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Sunday Dare, minister of youth and sports development, had initiated a number of youth and sports development programmes aimed at repositioning both components of his ministry for more effective delivery and impact.

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