The Ministry of Industry, Trade, and Investment has refuted claims of allocating N1 billion for a foreign trip to Geneva, Switzerland, in 2024. The Ministry’s spokesperson, Toluwalase Moyan, clarified the issue, stating that the report was an extreme misrepresentation of the facts presented by Minister Dr. Doris Anite.
Moyan categorically stated, “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.” He explained that the mention of Geneva in the budget pertains to the maintenance of the Nigerian Trade Office in Geneva, not a foreign trip.
In the proposed budget for 2024, the allocation for “Nigeria’s Trade Office in Geneva” amounts to N1,610,183,599, with the breakdown as follows: Personnel Cost (N805,379,820), Overhead (N204,058,434), and Capital (N600,745,345). Moyan emphasized that the Nigerian Trade Office in Geneva plays a crucial role in representing and defending Nigeria’s multilateral trade interests in international bodies like the World Trade Organisation (WTO) and the United Nations Conference on Trade and Development (UNCTAD).
Moyan clarified that the proposed budget addresses obligations, overhead, and maintenance costs associated with the Nigerian Trade Office in Geneva, including an outstanding debt of N499 million. The spokesperson highlighted the importance of meeting these financial obligations to maintain Nigeria’s respect and global standing among nations.
The statement responded to concerns raised by the Senate Committee on Trade and Industry, which reportedly criticized the Ministry for the alleged N1 billion allocation for a foreign trip to Geneva. The Ministry affirmed its commitment to prudence, transparency, and accountability, assuring that the budget proposal aims to service Nigeria’s outstanding debts and fulfill its global responsibilities.
The Senate Committee had expressed worries about excessive spending on foreign trips and encouraged the utilization of in-country experts during a budget defense session on Tuesday.
