The Nigeria Olympic Committee (NOC) has secured the London 2012 Olympic Games Broadcast Rights for the Nigerian territory.
It paid N80 million for the rights and hopes to reap in benefits of over N250 million in cash and kind after selling the commercial rights to its partners.
The International Olympic Committee sold the sub -Sahara Africa broadcast rights contents to Octagon South Africa, and it was from the South African company that the NOC bought the rights to the Nigerian territory.
NOC President, Sani Ndanusa described the procurement of the Free to Air Broadcasts rights as the first time that a National Olympic Committee is wholly acquiring the broadcast rights within its territory.
He stressed that for the first time there would be three broadcast companies putting the Olympics in Nigerian living rooms and keeping with the free to air concept of international broadcast. The three broadcast partners are: the Nigerian Television Authority, African Independent Television and Radio Nigeria.
"Nigeria's participation in the London 2012 Olympics is going beyond sports as cultural and economic investment potential of the country will all showcased. The countdown has just begun and Nigeria is good to go."
The acquisition of the rights is part of the NOC's plan to provide a comprehensive media platform for public and private organisations to take advantage of the massive business opportunities provided by the London 2012 Olympic Games broadcasts to further boost their products and services.
Beside television and radio the opportunities include social media platforms and the NOC website.
The Chairman of the NOC Marketing Committee, Patrick Ukah said that some Nigerian companies have already entered into London 2012 partnership with NOC and have made cash and kind payment which will enable them leverage on the opportunities of the Games.
Ukah said the deal marked a first for Nigerian radio. "We will for the first time be broadcasting the Olympics by a Nigerian radio live from London. There is going to be both live and delayed broadcast.