Minister of Trade, Industry and Investment, Doris Nkiruka-Anite Uzoka has finally opened up on the N1.6 billion in the ministry’s 2024 budget proposal.

In a statement by her media aide, Toluwase Moyan said:

“We wish to categorically state that there is no line item in the proposed budget of the federal ministry of industry, trade, and investment referring to ANY ‘Foreign Trip to Geneva’.”

“Rather, the only mention of ‘Geneva’ in the proposed budget is with respect to the maintenance of the Nigerian Trade Office in Geneva, captured as ‘External Trade Sector, Geneva (WTO)’, which may have been misconstrued as ‘Foreign Trip to Geneva’.”

“In fact, the total amount (for NIGERIA’S TRADE OFFICE IN GENEVA) in the appropriation for 2024 is N1,610,183,599 with the breakdown as follows: Personnel Cost, N805, 379, 820; Overhead, N204, 058, 434; Capital, N600, 745, 345.”

“In fact, the current debt owed by the Nigeria Trade Office in Geneva as captured in the budget is N499,000,000.00, and it was deemed necessary to propose a budget that will service Nigeria’s outstanding debts in Geneva and maintain Nigeria’s respect and global standing amongst the comity of nations.”