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Newly Unveiled Super Falcons CoachThomas Dennerby, who was in charge for the encounter, and the Falcons aimed for victory against Mali after their disappointing loss to Ghana in the semi finals.
Th Falcons however fell behind in the ninth minute as Diarra Fatoumata's shot from outside the box put the Malian in front.
Nigeria equalised in the 15th minute as winner of the young player (women) at the NFF Awards Rasheedat Ajibade'spull out came off the crossbar for Chinaza Uchendu to convert.
Uchendu scored her second of the game in the 39th minute, to give the Super Falcons the lead going into half time.
The Falcons resumed the second half, creating more chances but the Malians held on as Nigeria won the third place play-off 2 -1, and Chinaza Uchendu named woman of the match after her brace in the encounter.
The Super Falcons had earlier won all their group games at the tournament, after they defeated their Mali by a lone goalin their first match, then beat Senegal in their second group match.
After qualifying for the next round, the Super Falcons won their final group match against Togo, before losing in the semi-final clash to arch rivals Ghana.
The Falcons thanked the fans of Abidjan for their continuous support throughout the tournament.
WAFU Women's Cup 3rd Place and final results
The third place place off and final of the WAFU Women's Cup will be played on Saturday, February 24.
3rd place - Nigeria vs Mali 2 - 1 to Nigeria
Final - Ivory Coast vs Ghana(5:30 pm Nigerian time)