Nigeria’s Over N12 Billion Olympic Investment Deemed “Wastage” by Top Party Chieftain
The just-concluded 2024 Paris Olympics has sparked controversy in Nigeria after a top official from the New Nigeria People’s Party (NNPP), Olufemi Ajadi Oguntoyinbo, described the massive financial investment as a “wastage”.
According to reports, Nigeria spent a staggering N12 billion (approximately $26 million) to send 88 athletes to compete in 12 sports at the Paris Olympics. Despite this hefty investment, the team returned without winning a single medal.
“This is painful because there are no results to show for it,” Oguntoyinbo said in a statement. “We fielded 88 athletes in 12 sports with N12 billion in Paris and ended up without a medal, which is over N136 million (approximately $85,000) spent on each of the 88 Nigerian contingents to the Olympics, and no singular medal was won.”
The chieftain further highlighted that Jamaica, which spent significantly less (approximately $2,300 per athlete), managed to win six medals, including one gold, three silver, and two bronze medals.
“Now that the Paris Olympics 2024 has officially ended and Team Nigeria, despite the huge financial investment made into the project, returned without a single medal, it amounts to wastage,” Oguntoyinbo stated.
The party chieftain urged the Federal government to launch an investigation into the performance of Nigeria’s Olympic contingent, citing “recklessness and shoddy preparation” for the Olympics.
“Wasting this amount under our present state of the economy is something we cannot sweep under the carpet,” he emphasized.
The controversy is likely to raise questions about the efficacy of Nigeria’s investment in sports, particularly at a time when the country is facing significant economic challenges.
