Members of the Lagos State House of Assembly have passed the bill on the establishment of Sports Commission Trust Fund into law.
The lawmakers had on resumption of plenary after the new year break considered the report of the Chairman of the House Committee on Youth, Sport and Social Development, Hon. Adedamola Kasumu on the two bills which seeks to provide for the establishment of the Lagos State Sports Trust Fund and for connected purposes and Lagos State Sport Commission.
The two bills according to the Speaker, Rt. Hon. Mudashiru Obasa is meant to promote sporting activities in the State, while the Trust Fund would provide interface between the government and the private sector towards the development and adequate funding for sports in the State.
According to him, the provision of the Trust Fund , objectives are to raise money through private and public donations for the development of sporting activities and facilities in the State.
The Trust Fund would be the depository of all monies and can raise money for the development of sports in the State through grants by the federal government, the State and Local as well as donations or contributions for individuals or corporate organization.
Section 20 also allow the Trust Fund with approval of the Trust Fund with approval of the board empowering its committees for the purpose pf generating funds to organize charity dances, shows, exhibitions and other fund raising event as it may deem fit .
In a related development, the bill which seeks the establishment of the Lagos State Sport Commission for the State would allow the Commission to administer sporting activities in the State. The establishment of the Commission would harness the potential of sports men and women in the State towards attaining excellence.