THE Nigeria Football Federation are set to receive a massive $5m financial boost from world soccer ruling body FIFA next year.
According to a release by FIFA, the cash support would represent a 312 percent increment over a four-year cycle for each member association across the globe with effect from 2017.
The financial support to member associations for football development is to jump to $5m every four-year cycle from the former figure of $1.6m with effect from 2017.
With the bumper increase, the NFF and other FAs will now receive $1.25m every year to support the specific programmes to be dictated by FIFA.
Under the previous programme, each federation got an annual support of $400,000 to help in administering the game in the country.
FIFA President Gianni Infantino who is expected to visit Nigeria soon explained the reasons for providing more fund for member associations.
“FIFA Forward’s aim is to best fulfill FIFA’s mission of developing the game around the world. This is not simply about providing more funds to member associations and confederations, but about providing concrete assistance to the football community via the transparent use of funds, and changing the culture towards a greater impact of FIFA’s development activities that can systematically be measured,” Infantino said.
Meanwhile, the Development Committee confirmed that member associations and confederations will have until 1 June 2017 to wrap up their contracts of agreed objectives with key performance indicators. Until that date, the committee will consider projects for approval on a case-by-case basis.