Olufemi Ajadi Oguntoyinbo, a prominent figure in the New Nigeria People’s Party (NNPP), has characterized the expenditure of over N12 billion on the 2024 Paris Olympics as wasteful.
Expressing disappointment, he highlighted Nigeria’s team’s lackluster performance at the recently concluded games, failing to secure any medals despite the substantial financial investment by the government.
Reports indicate that Nigeria fielded 88 athletes across 12 sports in Paris, yet they returned empty-handed.
In his response, the NNPP official emphasized the pain of the substantial investment that yielded no tangible results.
He pointed out that the amount spent was nearly double the budget allocated to the entire Ministry of Science and Technology for the year.
In a statement provided to NewsNow, Oguntoyinbo called for a government investigation into the reasons behind the costly failure.
He urged authorities to shift their focus towards advancing Science and Technology, akin to the attention given to sports.
“Spending over N136 million (approximately $85,000) on each of the 88 Nigerian athletes in 12 sports at the Paris Olympics without securing a single medal highlights a significant mismanagement of funds,” the NNPP official remarked.
He further illustrated the discrepancy by comparing Nigeria’s performance to that of Jamaica, which, with a significantly lower budget, managed to secure 6 medals (1 Gold, 3 Silver, 2 Bronze).
“The lack of returns from this substantial investment at the Paris Olympics demands scrutiny. It is crucial for the Federal Government to investigate the performance of our 88 athletes and address the apparent wastage of over N12 billion,” Oguntoyinbo emphasized.
“Wasting such a substantial amount given our current economic state is an issue that cannot be overlooked.”