Renard boasts the bigger profile of the two candidates – but would be a much more difficult appointment to pull off.
The Frenchman has enjoyed great success in African football, being the only coach to lift the Afcon trophy with two different nations.
Renard also led Morocco and Saudi Arabia to creditable showings at the 2018 and 2022 World Cups respectively, famously beating eventual winners Argentina in a group match at the latter tournament.
His most recent appointment saw him lead France’s women to respectable – but somewhat underwhelming – quarter-final exits at the 2023 Women’s World Cup and this year’s Olympics.
Recently overlooked for the United States men’s national team job, the 55-year-old has received approaches from European, African and Asian countries, even though he is not actively hunting for a new position.
Egypt are reportedly willing to offer him a $2m (£1.5m) annual salary, a figure that Nigeria would be unable to match.
His financial demands have been labelled as “practically outrageous” by a top NFF official, an interesting comment considering that Nigeria are offering the biggest contract for a head coach in their history.
Despite the financial constraints, Renard continues to be viewed as the favoured choice in light of his experience and winning record within African football.
He is also excited by the prospect of managing one of the continent’s biggest nations.
Time, however, is running out for both parties to find common ground.