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Nigerian broadcasters say they cannot afford to buy the rights to the tournament, which starts in two weeks' time in Ghana.
The Broadcasting Organisation of Nigeria (BON) says the company that owns the rights wants 3m euros ($4.4m).
More than 30% of Africa's TV audience for football is in Nigeria, BON says.
The group says it can only offer 1.25m euros ($1.8m) for the rights.
"They said our offer was not acceptable, so we said: 'Fine, you can go and set up a TV channel in two weeks, we won't deal with you'," Bon chairman Abubakar Jijiwa told the BBC Focus on Africa programme.
Many Nigerians fanatically follow their national team, the Super Eagles, and the country is the most populous in Africa. "If you want to ignore Nigeria, good luck to you," Mr Jijiwa said.
(BBC)
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