JUST IN: Minister of Trade And Investment, Doris Anite Clarifies N1.6 Billion Budget Allocation Amid Foreign Trip Controversy

JUST IN: Minister of Trade And Investment, Doris Anite Clarifies N1.6 Billion Budget Allocation Amid Foreign Trip Controversy....KINDLY READ THE FULL STORY HERE▶

The Minister of Trade, Industry, and Investment, Doris Uzoka-Anite, clarified that the N1.6 billion allocated in the ministry’s 2024 budget proposal is earmarked for the country’s trade office in Geneva, Switzerland, and not intended for foreign trips. Uzoka-Anite faced criticism during her appearance before the National Assembly joint committee on trade and investment to defend her ministry’s budget on Tuesday.

Senator Adams Oshiomhole, representing Edo North and a committee member, raised concerns about a budget item allocating N1 billion for a single trip to Geneva, questioning the necessity of such expenditures. In response, Uzoka-Anite, through her media aide Toluwase Moyan, stated on Wednesday that there is no specific line item for a ‘Foreign Trip to Geneva’ in the proposed budget.

The statement clarified that the budget allocation for Geneva pertains to the maintenance of the Nigerian Trade Office in Geneva, specifically categorized as ‘External Trade Sector, Geneva (WTO).’ The total amount earmarked for Nigeria’s Trade Office in Geneva in the 2024 budget is N1,610,183,599, with a breakdown including Personnel Cost, Overhead, and Capital.

Uzoka-Anite emphasized the importance of maintaining an office in Geneva as Nigeria actively participates in global trade, representing and defending the country’s multilateral trade interests. The budget proposal also addresses an outstanding debt of N499,000,000.00 owed by the Nigeria Trade Office in Geneva, highlighting the necessity of the proposed budget to service debts and uphold Nigeria’s global standing.

The minister affirmed her ministry’s commitment to prudence and accountability in managing budgetary allocations