For just qualifying for the final tournament, the Eagles have already secured $4m.
If the Super Eagles of Nigeria wins on Sunday, they will pocket a staggering $7m (N8.9bn).
Nigeria will play against Ivory Coast in the final of the 2023 Africa Cup of Nations.
Nigeria qualified for the final of the 34th edition of the AFCON after defeating South Africa at the Stade de la Paix, Bouke, on penalties after 120 minutes of football ended 1-1.
For qualifying for the final tournament, the Eagles have already secured $4m.
Earlier, Dr Patrice Motsepe, Confederation of Africa Football president, had announced a 40 percent increment in prize monies before the start of the tournament.
According to the statement published on the website of the football governing body on January 4, the winners of the tournament will receive $7m, $2m more than the reward doled out at the last edition in Cameroon.
The runners-up of the African showpiece event will now get $4m (N5bn), while each of the losing semi-finalists South Africa and DR Congo will receive $2.5m, with each of the four quarter-finalists taking home $1.3m.
“CAF has made significant progress over the past two years in increasing the prize money of the AFCON and all its other major competitions,” Motsepe said.
“We have increased the prize money of the AFCON winner to USD 7 000 000 which is a 40% increase from the previous AFCON prize money.
“I am confident that a portion of the prize money will contribute to developing football and also benefit all the football stakeholders, as well as assist our Member Associations with their administrations,” he added.