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SPRF sets N10 billions funds to reward sporting youths

By Ernest Nzor, Abuja
30 October 2023   |   3:15 pm
The Board of Trustees of the Sports Performance Reward Fund (SPRF), has set ten billion naira reward for sportsmen and women who win at the Olympics, Commonwealth, and others World Championships.

The Board of Trustees of the Sports Performance Reward Fund (SPRF), has set ten billion naira reward for sportsmen and women who win at the Olympics, Commonwealth, and others World Championships.

SPRF said the aims is to attract massive private sector interest in sports and instigate a private sector led sports culture in Nigeria and make Nigeria a major sports power in the next three Olympic circles.

President of SPRF, Musa Kida, disclosed this in Abuja, at the inaugural press briefing, noted that the funds would be raised from the private and public sectors, from individuals and organizations at home and abroad.

He said: “The SPRF plans to raise in the first instance, ten billion Naira from the private and public sectors, from individuals and organizations at home and abroad that will be available as reward for generations of Nigeria’s sporting youth who attain podium success at the Olympics, Commonwealth, All Africa Games and major World championships.

He noted that the sports industry is the second largest platform for empowerment, employment and engagement in the world and next to information technology.

Adding that, “As a nation with so much sporting talent and youth unemployment, we ought to direct the attention of our youth more to sports as a means of creating wealth. We are sure, therefore, that the SPRF initiative will open up opportunities for employment for workers in gyms, athletics clubs.

“There will be marketing and agency opportunities for the sports media and others who will identify talent and recommend them to investors. The business World thrives on hope for reward following investment of time, energy and finance. A reward at the end of the sports value chain will definitely get the attention of the business world.”

The proposed rewards are as follows: Olympics: Gold -N10 million; Silver- N7.5 million; Bronze – N5 million; Commonwealth: Gold- N5 million; Silver – N3 Million; Bronze – N2 million. All Africa Games: Gold – N3 million; Silver – N2 million; Bronze -N1 million.

In her remarks, the First Nigerian female Olympic Gold medalist and member of the Board of Trustees of the SPRF, Chioma Ajunwa, said that transparency is key to the realization of sports.

She said: “All donations, contributions and any manner of support are done on the website and those not done directly are reflected on the site.

“All disbursements to recipients are posted on the website which is accessible to the public. Total amount in the coffers of the SPRF can be seen at all times on the website.”

Also, a Journalist, author and tennis promoter, Godwin Kienka, noted that the yearly audit of accounts will be in the public domain to see.

He said: “The world media conference, in my estimation, is a huge success and that we all appreciate what we’re trying to achieve. What is the next in line is probably the launch dinner.

“We have put the money at the end of the value chain. If you work hard at the end of the tunnel you come through that tunnel 10 million no questions asked.”

He noted that the aim of SACF is to ensure that any Nigerian athlete who wins a gold or silver medal will never be poor in his life. Adding that, if you can win a gold medal in one Olympic cycle, you should be able to make about 15 million.

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