ABEOKUTA -The National Sports Commission (NSC) has unveiled Project RISE, a proposed ₦1 trillion National Sports Infrastructure Bond Programme aimed at rehabilitating, modernising and expanding critical sporting facilities across Nigeria.
The initiative, which stands for Reimagining Infrastructure for Sporting Excellence, was presented at an inaugural All-Parties Meeting held on Wednesday, October 14, at the Moshood Abiola National Stadium, Abuja.
The meeting brought together leading issuing houses, investment banking institutions, legal advisers, trustees and other capital market professionals to discuss the proposed financing framework.
The programme advances the Federal Government’s efforts to address Nigeria’s longstanding sports infrastructure deficit through alternative financing mechanisms, following President Bola Ahmed Tinubu’s approval earlier in the year for the Commission to explore capital market funding.
Speaking at the meeting, the Director-General of the NSC, Hon. Bukola Olopade, described Project RISE as a major component of the Renewed Hope Initiative for Nigeria’s Sports Economy (RHINSE), which seeks to position sports as a driver of economic growth, employment, youth development and international competitiveness.
Hon. Olopade stressed that Nigeria’s sporting potential must be matched by the facilities required to develop talent and sustain high performance.
He noted that many promising athletes across the country still lack access to modern training facilities, adding that Project RISE would help establish a stronger infrastructure base for talent identification, athlete development and sporting excellence.
The meeting was facilitated by the Commission’s financial advisers, Plethoria Finance Group and BAS Capital Limited, led by their respective Group Managing Directors and Chief Executive Officers, Mr. Taiwo Oguntimehin and Mr. Abdullateef Hussaini.
The meeting attracted representatives of several financial institutions and professional services firms, including Chapel Hill Denham, PAC Capital, AIICO Capital, United Capital Group, AVA Capital, Centrum Finance, BAS Capital Limited, Plethoria Trustees Limited, Templars Law Firm, The New Practice, M.J Partnership Solicitors, DOC Advisory Limited, BBC Professionals and STL Trustees Limited.
Priority projects identified by the Commission include the rehabilitation and modernisation of the National Stadium, Surulere, Lagos, and a comprehensive overhaul of the MKO Abiola National Stadium, Abuja.
Other proposed interventions include sports centres across the six geopolitical zones, facilities in tertiary institutions, high-performance training centres, a National Aquatics Development Centre, sports medicine and rehabilitation facilities, and a National Sports Digital Transformation Programme.
