Rio 2016: Funds Cripple Nigeria House Project | Independent Newspapers Limited
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Rio 2016: Funds Cripple Nigeria House Project

Funds
Posted: Aug 4, 2016 at 2:00 am   /   by   /   comments (0)

Tony Ezimakor

Abuja – There are strong indications that the Nigeria House project for the Rio Olympics has been cancelled.
The project estimated to cost N155 million, was terminated due to lack of funds, Independent learn’t.
The project was to provide platform for showcasing the country’s rich culture and cuisine, and from past experiences serves as meeting point for Nigerians in Diaspora, interested foreigners and others who are desirous of sampling Nigerian music, food, art and culture.
It also provides platform for business men and women at the Games to link up with their Nigerian partners.
But a source hinted that the scarce fund that hit both preparation and participation at the Games has also taken toll on the house project.
A member of the committee disclosed that as at last Friday, the committee was yet to pay for the accommodation that would host the Nigerian House.
In all he said the committee needed N155 million, out of which only N25 million was realised as at weekend.
“Given the situation, it is not wise to proceed with the project,” said the committee member who did not want to be named.
“Some members though, are of the view that we go ahead but I don’t want to be part of it because it would lead to a big scandal and I don’t want to be associated with any scandal as far as the Games are concerned ”
The source said that out of the sum needed to  drive the project only one bank had made a subscription of N25 million which is a far cry from what is required.
“Private and corporate bodies approached have been evasive. The complaint is the bad economy. So I personally think the best we can do is refund the money and close the chapter, since the funds are not there,” he said.