The deal with the Aiteo Group will commence on 1 May.
"This will make it easier for us to plan adequately for our national teams," NFF boss Amaju Pinnick said.
"It is important to note that this will also take care of the national team coaches' salaries."
Pinnick hopes that this means no repeats of problems paying national team coaches that has troubled the NFF in the past.
"There will be no owing of coaches for the next five years," he added.
"This lucrative deal with Aiteo will cover all the national teams and has an option of a one-year extension."
"We are happy to have a sponsor come in at this crucial time and this is a big boost for our football."
Former Nigeria coaches Christian Chukwu, Shaibu Amodu, Samson Siasia,Austin Eguavoen, Sunday Oliseh and the late Stephen Keshi have all previously complained about outstanding salaries in recent years.
The chairman of the Aiteo Group, Benedict Peters, feels it is important for Nigerian companies to share their success.
"As Nigerian companies grow, I believe the benefits of that growth should be spread as widely as possible," he explained.
"Aiteo Group is as passionate about leadership as Nigerians are about football, so we are proud to be working together with the NFF and its coaching staff to reach a shared goal of a more prosperous Nigeria."
"It is an exciting time for the Nigerian Football Federation and for Aiteo - two organisations which are increasingly seeing global success, competing with global players.
"Aiteo Group is proud to sign this multi-million dollar partnership, which will help to support the Super Eagles to success in the 2018 World Cup, the 2019 AFCON and beyond."