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REVEALED: Why Nobel Peace Prize Winners Are Awarded $1m, A Diploma Award And A Gold Medal.

Nobel Peace Prize is a prestigious award given annually to a person or persons that has done a great work for peace. It is also one of six annual prizes that are awarded to people for important work in the fields of literature, physics, chemistry, medicine, and economics. So far, Nigeria has produced only one Nobel Peace Prize winner, in the person of Professor Wole Soyinka. The award comes with a gold medal, a diploma award and 10 million Swedish Krona ( which is equivalent to $1m). Here is why the winners are given these gifts;

The distinguished award was established by Alfred Bernhard Nobel, who was a Swedish chemist, engineer, inventor, businessman, and philanthropist. He created the annual honours with his fortune and upon his death in 1895, he willed that a large portion of his assets would be given to an endowment to invest in 'safe securities' and that the interest from the investments, would then be distributed as prize money to individuals who have made a beneficial or great impact in specific fields.

For the award and diploma, those two were added in 2016 by the Nobel foundation, to the $1m cash prize. Switzerland-based International Committee of the Red Cross (ICRC) is the only 3-time recipient of the Nobel Prize. 

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Alfred Bernhard Nobel Nigeria Nobel Peace Prize Swedish Krona Wole Soyinka


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