While Nigeria is languishing with 0 medals with over 150 million population
sEE WAT OTHER COUNTRIES ARE DOING



Rio Olympics 2016 medals value
So the cash prize awarded to athletes are different from country to country and the usual big guns like United States only offer around $25,000 for winning the gold, $15,000 for silver and $10,000 for Bronze while Azerbaijan award $510,000 to the winner of gold, $255,000 for silver and $130,000 for bronze.

But you have to take into account that athletes who wins Gold for USA, UK, Australia etc can hit a jackpot in terms of endorsement deals which can be much more cash rewarding compared to just the one off payment. Before we explain which federations pays the most we take a look at how much the Olympic medals are worth ?

Value of Summer Olympics Medals:

Gold: $600 (The gold medal consist of just 1% of actual gold, 92.5% silver and 6.16% copper).
Silver: $325 (While in silver medal, the gold is replaced by more copper rest meterial is the same like gold medal)
Bronze: $3 (Bronze medal however is 97% copper and 2.5% zinc and 0.5% tin)
Thats the actual worth of raw material used in the medal but of course if athletes were to sell/auction their medals they will get alot more than just the face value of material. See Also: All-Time Olympics Medal Table

Cash Money Rewards for Olympic Medalists:

Like we mentioned before Olympic medalists do get cash rewards from almost all the the national olympic federations and here are some of the highest paying federations in oympics. Most of the countries award lump sum payments but some countries like Philippines and Thailand award cash prized which are staple income over 20 years. Only a handful of countries ward cash prized to silver and bronze medalists while most federations only award prized for gold winners.

Highest cash rewards paid by different national Olympic federations
NO# COUNTRY GOLD SILVER BRONZE
1 Singapore S$1 million (US $757,000) $370,000 $189,000
2 Malaysia A solid gold bar worth (around $600,000) $300,000 $150,000
3 Azerbaijan $510,000 $255,000 $130,000
4 Kazakhstan $250,000 $150,000 $75,000
5 Thailand $314,000 (over 20 years period)
6 Philippines $237,000 (over 20 years period)
7 Kyrgyzstan $200,000
8 Latvia $190,000
9 Italy $189,800 $95,000 $50,000
10 Uzbekistan $150,000
11 Belarus $150,000
12 Ukraine $150,000
13 Russia $180,000 $90,000 $45,000
14 Australia $126,000
15 Tajikistan $63,000
16 France $65,000
17 China $31,400
18 USA $25,000
19 Germany $19,500
20 United Kingdom 10000 (Knighthood or MBE)

Guess Nigeria own go reach rescue the economy