President Goodluck Jonathan has approved the concession of the National Stadium in Lagos. The approval was granted last week according to Ministry of Sports officials.
The Minister of Sports, Mallam Bolaji Abdullahi is now expected constitute the Project Steering Committee and the Project Delivery Committee, which will liaise with the Infrastructure Concession Regulatory Commission to draw up modalities for the concession.
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 and Infrastructure Concession Regulatory Commission recommend the most viable option for the maintenance of the six federal stadia according to a statement from the sports ministry.
The technical committee recommended the involvement of private sector participation in the management and operations of the stadia with concession as the preferred approach. It also recommended that the concession of the federal stadia should start with National Stadium, Lagos.