The Board of Trustees of the Sports Performance Reward Fund (SPRF), has said that it has set a target of N10billion to drive, and motivate Nigerian youths with sporting talent to be the best in the world.
It said that the aims of SPRF is to attract massive private sector interest in sports and instigate a private sector led sports culture in Nigeria, and make the country a major sports power in the next three Olympic circles.
President of SPRF, Musa Kida, who disclosed this in Abuja, at the inaugural world press briefing, noted that the funds would be raised from the private and public sectors, individuals and organisations at home and abroad.
“The SPRF plans to raise in the first instance, N10billion from the private and public sectors, from individuals and organisations 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 Games, All Africa Games and other major World championships.”
He noted that sports industry is the second largest platform for empowerment, employment and engagement in the world, and next to information technology.
“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 and 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,” he stated.
According to Kida, the proposed rewards are: Olympics: Gold -N10m, Silver- N7.5m; Bronze – N5m; Commonwealth: Gold- N5m; Silver – N3m; Bronze – N2m. All Africa Games: Gold – N3m; Silver – N2m; Bronze -N1m.
In her remarks, the First Nigerian Olympic Gold medalist and member of the Board of Trustees of the SPRF, Chioma Ajunwa, said that transparency is key to the realisation of sports.
“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,” she stated.
Also, a journalist, author and tennis promoter, Godwin Kienka, noted that the yearly audit of accounts would be in the public domain to see. 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/her life. He added: “If you can win a gold medal in one Olympic cycle, you should be able to make about N15 million.”
