RateCaptain
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
Subscribe
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
RateCaptain
No Result
View All Result
Home Economy

Presidential Trips During COP28 Climate Summit Cost Nigeria N69.22 Million

Victoria Attah by Victoria Attah
January 24, 2024
in Economy
Reading Time: 1 min read
A A
0
FG Records N13.33bn Revenue Shortfall from Gas Flaring Penalties
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

The State House, representing the Presidency, reportedly received a sum of N69.22 million for presidential trips related to the COP28 Climate Summit held in Dubai, UAE, in December 2023, according to data from GovSpend, a platform by BudgIT.

The COP28, or the 2023 United Nations Climate Change Conference, took place from November 30 to December 12, 2023, at Expo City, Dubai. President Bola Tinubu led the Nigerian delegation, departing on November 29 and returning on December 5, 2023.

AlsoRead

Dangote Refinery Cuts Petrol Gantry Price to N1,200 per Litre Amid Global Oil Uncertainty

Federal High Court Nullifies CBN’s Dissolution of Union Bank Board, Orders Immediate Reinstatement

CBN Lowers Yields on Two Tenors at March 25 Treasury Bills Auction Amid Liquidity Glut

Despite President Tinubu’s presence at the summit, GovSpend data revealed seven distinct payments made on December 7, 2024, for the same purpose of covering presidential trips and related expenses, fueling controversy over the perceived bloated entourage and delegates from Nigeria.

In addition, the 2024 approved budget allocates approximately N50 million for the upcoming COP29, scheduled for November 11-24 in Baku, Azerbaijan. This allocation is attributed to the National Council On Climate Change, an agency under the State House. The amount is marginally lower than the expenses incurred during COP28, suggesting a potential adjustment in response to public backlash.

The COP28 summit in Dubai drew attention due to the controversy surrounding the large Nigerian delegation, reportedly comprising 1,411 individuals. President Tinubu faced criticism for the substantial number of delegates, with the government insisting that only 422 were sponsored by public funds. The delegation included business leaders, environmentalists, climate activists, and journalists, as per the Senior Special Assistant to the President on Media & Publicity, Temitope Ajayi.

While the government claimed over $5 billion in commitments for climate action efforts from its participation in COP28, the upcoming COP29 raises concerns about balancing international representation with fiscal responsibility. As Nigeria navigates economic challenges, prudent spending in the face of global engagements becomes crucial, especially amid recent cuts in official travel expenditures. The government faces the task of justifying expenses related to these international summits amidst pressing national needs.

Tags: COP28Tinubu
Previous Post

Naira Rebounds to 900/$ at Official I&E Window After Days of Volatility

Next Post

Oil Marketers Dismiss Claims of Dangote Refinery Selling Fuel in Dollars

Related News

Oil Marketers Dismiss Claims of Dangote Refinery Selling Fuel in Dollars

Dangote Refinery Cuts Petrol Gantry Price to N1,200 per Litre Amid Global Oil Uncertainty

by Akpan Edidong
March 27, 2026
0

Dangote Petroleum Refinery & Petrochemicals has lowered its ex-depot (gantry) price for Premium Motor Spirit (petrol) to N1,200 per litre,...

Union Bank Completes Delisting Procedure from NGX

Federal High Court Nullifies CBN’s Dissolution of Union Bank Board, Orders Immediate Reinstatement

by Stephen Akudike
March 26, 2026
0

A Federal High Court in Lagos has nullified the Central Bank of Nigeria’s (CBN) decision to dissolve the board and...

CBN Supplies $29.5 Million at FX Auction as Naira Depreciates at I&E Window.

CBN Lowers Yields on Two Tenors at March 25 Treasury Bills Auction Amid Liquidity Glut

by Stephen Akudike
March 26, 2026
0

The Central Bank of Nigeria (CBN) reduced interest rates on two key maturities at its Treasury Bills auction held on...

Nigerian Equity Market Sees Impressive N1.08tn Wealth Gain Amidst Bullish Trading.

NGX Market Cap Drops Below N129 Trillion as Profit-Taking Weighs on Banking Stocks

by Stephen Akudike
March 26, 2026
0

The Nigerian Exchange Limited (NGX) reversed its recent upward momentum on Wednesday, March 25, 2026, as sustained profit-taking in major...

Next Post
Oil Marketers Dismiss Claims of Dangote Refinery Selling Fuel in Dollars

Oil Marketers Dismiss Claims of Dangote Refinery Selling Fuel in Dollars

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

NEC Affirms CBN $3 Billion Loan for Naira Stability

CBN Blacklists Chronic Loan Defaulters, Bars Them from Banking Services

March 27, 2026
Oil Marketers Dismiss Claims of Dangote Refinery Selling Fuel in Dollars

Dangote Refinery Cuts Petrol Gantry Price to N1,200 per Litre Amid Global Oil Uncertainty

March 27, 2026

Popular Story

  • Naira Surges Against US Dollar, Falls Below N1,000 Mark

    Naira Strengthens to N1,355/$ on Monday, Marking Strongest Level in Four Weeks

    0 shares
    Share 0 Tweet 0
  • CBN Blacklists Chronic Loan Defaulters, Bars Them from Banking Services

    0 shares
    Share 0 Tweet 0
  • Naira Strengthens 4.31% in February Despite Late-Month CBN Intervention

    0 shares
    Share 0 Tweet 0
  • Dangote Refinery Imported $3.74 Billion Worth of Crude in 2025 – CBN Data Reveals

    0 shares
    Share 0 Tweet 0
  • NGX Records 8.76 Billion Shares Traded in Three-Day Week as ICT Sector Dominates Activity

    0 shares
    Share 0 Tweet 0

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Cookie Policy
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

RateCaptain
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
View preferences
  • {title}
  • {title}
  • {title}
?>