.To spend N369 m on Rio 2016 campaign
From Olawale Ajimotokan in Abuja
The Nigeria Football Federation (NFF) board has proposed a budget of N7.2 billion for the 2016 year. The board tabled the amount before the football stakeholders at the Annual General Assembly (AGA) held in Abuja on Wednesday.
Much of the federation's revenue is expected to be generated via government subventions, local sponsorship, FIFA grants and local competitions.
The federal government remains the biggest revenue stream for the 'Glasshouse' with its expected subvention for the forthcoming year put at N6.1 billion. Out of that amount, N5.8 billion is the money proposed to be spent on sporting activities, while N324,795,509 is budgeted for recurrent expenditure.
The football campaign by Dream Team VI at the Olympic Games in Rio de Janeiro will gulp N369 million. The team handled by Samson Siasia recently won the African U-23 Championship in Senegal and will targeting Nigeria’s second soccer gold medal since the unmatched feat by their forerunners at Atlanta 1996.
The federation has estimated N89 million as the cost of international friendly matches to tune up the team,
while another N279 million is set aside for the team during the Olympic football competition proper in Brazil.
Sponsorship fees from Globacom, Guinness and other companies, amounting to N792 million will substantially augment the federation's revenue.
International football bodies FIFA and CAF will provide as grants $250,000 and $100,000, estimated at N79million while income from the local league will amount to N34.5 million.
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