Nigeria was defeated 4-2 on penalties on Wednesday night, missing out on a place in the final.
The game had ended 0-0 after 120 minutes, with missed penalties from Samuel Chukwueze and Bruno Onyemaechi deciding the outcome.
Before the match, Rabiu had promised the Eagles $500,000 if they beat Morocco, plus an extra $50,000 for every goal scored.
After the game, the billionaire announced on X that he would honour the pledge despite the team falling short.
He called the money a “token of appreciation” and “in recognition of your hard work, dedication, and the joy you have brought to our nation”.
“You fought with your hearts, gave your all, and showed true courage and determination on the pitch,” Rabiu said.
“Though it wasn’t meant to be this time, you have made every Nigerian proud. Sometimes, even our best efforts don’t bring the outcome we hope for, but the spirit, passion, and unity you displayed are what truly matter. You left everything on the field, and that is worthy of celebration.”
Nigeria will face Egypt on Saturday in the third-place match.
Meanwhile, Super Eagles coach Eric Chelle has suggested he might step down from his role after the 2025 AFCON.
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