What you’re seeing is the Nigerian Coat of Arms, one more national symbol that carries profound meaning. It was created and adopted in May 1960.
The Coat of Arms consists of the images that express different meanings: Black shield and colorful wreath over the shield stand for fertile soil of Nigeria; White horses mean dignity; Red Eagle is for the strength of the nation; White lines in the “Y” shape stand for two main rivers of Nigeria: Benue and Niger; Yellow Trumpet or Costus Spectabilis is the national flower of Nigeria.
The flower is placed on the ground where the shield is standing. It represents the beauty of the country and its nation; “Unity and Faith, Peace and Progress” line beneath the shield is the Nigerian national motto. It was adopted in 1978. The purpose is to inspire the nation to be united, faithful, live in peace and grow, become wiser and stronger.