After years of neglect, President Goodluck Jonathan has approved the concession of the National Stadium in Lagos.
With the approval granted last week, the Honourable Minister of Sports, Mallam Bolaji Abdullahi will constitute the Project Steering Committee and the Project Delivery Committee, which will liaise with the Infrastructure Concession Regulatory Commission, ICRC to draw up modalities for the concessioning.
The Federal Executive Council had in September 2012 set up a Committee to look into the mode of maintenance of federal stadia and to develop a sustainable funding framework for sports in general.
That Committee in turn set up a Technical Sub-Committee, which would in collaboration with the Bureau of Public and Enterprise, BPE and Infrastructure Concession Regulatory Commission, ICRC, recommend the most viable option for the maintenance of the six federal stadia.
The Technical Sub-Committee recommended the involvement of private sector participation in the management and operations of the stadia with concessioning as the preferred and most sustainable approach.
It also recommended that the concession of the federal stadia should start with National Stadium, Lagos.
