CHAN 2024: How CAF’s $10.4M prize pool could help Nigeria’s football economy

This move not only elevates the tournament’s financial appeal but also raises critical implications for participating nations, including Nigeria.

We take an in-depth look at the CHAN tournament, CAF’s strategic decision, and its significance for Nigeria’s football landscape.

The African Nations Championship (CHAN) is a CAF-organized tournament designed exclusively for players competing in their home country’s domestic leagues. Unlike the Africa Cup of Nations (AFCON), where African players from global leagues participate, CHAN serves as a unique showcase for grassroots talent.

Since its inception in 2009, the tournament has been instrumental in unearthing talent and providing a platform for local players to demonstrate their abilities on an international stage. CHAN not only nurtures emerging talent but also promotes domestic leagues, making them more competitive and attractive to fans and scouts alike.

The upcoming edition slated for February 1 – 28, 2025, set to be jointly hosted by Kenya, Tanzania, and Uganda, promises to be historic, with the substantial financial boost serving as a testament to CHAN’s growing prestige and impact.

CAF President Dr. Patrice Motsepe emphasized the importance of the prize money increase in a recent announcement.

For the 2024 edition, the winning team will receive $3.5 milliion. This dramatic increase in financial rewards is expected to intensify competition and attract greater attention to the event.

Nigeria made its CHAN debut in 2014 during the tournament’s third edition, hosted by South Africa. The team’s performance was remarkable as they finished third, showcasing the depth of talent in the Nigeria Professional Football League (NPFL).

This achievement highlighted the potential of homegrown players to compete at the highest level and laid the groundwork for greater participation.

In 2018, Nigeria reached the final of the tournament in Morocco but fell short against the hosts, losing 4-0. Despite the loss, the team’s run to the final was a testament to the quality of players in the NPFL and stressing the importance of investing in domestic football.

Despite its strong start, Nigeria missed the 2020 and 2022 editions of CHAN, failing to qualify for both. These absences were particularly painful given the country’s reputation as a football powerhouse.

Missing out on two consecutive tournaments deprived players of valuable international exposure.

Nigeria’s qualification for the 2024 CHAN edition marked a significant turnaround. The team secured their spot by defeating arch-rivals Ghana in a hard-fought qualification campaign  3-1 on aggregate. Overcoming Ghana was particularly symbolic, as it avenged Nigeria’s painful loss to the same opponents in the qualifiers for the 2022 World Cup.

The victory against Ghana not only secured Nigeria’s place in the tournament but also reignited hope and enthusiasm among fans and players.

The 2024 edition presents a golden opportunity for Nigeria to re-establish its presence on the CHAN stage. Success in the tournament could yield several benefits:

The 2024 edition presents a golden opportunity for Nigeria to re-establish its presence on the CHAN stage. Success in the tournament could yield several benefits:

CAF’s $10.4 million prize pool is a significant economic incentive. Even beyond the winner’s prize of $3.4 million, participating nations stand to benefit from increased sponsorships, broadcasting revenue, and local economic activities generated by the tournament.

For Nigeria, participation in CHAN could bring much-needed financial inflows to the NPFL, which has long struggled with inadequate funding and infrastructure.

Maybe this time around, doing well and probably winning the CHAN can act as a catalyst for the administrators to revamp Nigeria’s Football League systems. The exposure gained by NPFL players can inspire greater confidence in the league’s potential, attracting fans, sponsors, and broadcasters. This ripple effect could ultimately strengthen the league’s competitiveness and sustainability

CAF’s decision to significantly boost CHAN’s prize money is a monumental step forward for African football. For Nigeria, having qualified for the 2024 edition edging their arch-rivals, and missing two previous editions, the motivation should be spurred especially with the financial implications involved.

With $3.5 million awaiting the champions and $10.4 million in total prize money up for grabs, the countdown to CHAN 2024 promises a mix of excitement, high stakes, and opportunities for African football to shine.