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

Naira Strengthens 4.31% in February Despite Late-Month CBN Intervention

NCC Proposes 14-Day Mandatory Notice Before SIM Deactivation in Draft Rules

FG Unveils Livestock Export Reforms as US Congress Urges Ban on Nigeria’s Beef Shipments

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

Naira appreciated to N738/$ in the Parallel Market

Naira Strengthens 4.31% in February Despite Late-Month CBN Intervention

by Stephen Akudike
March 4, 2026
0

Nigeria's naira posted a robust 4.31% appreciation against the US dollar in February 2026, defying Central Bank of Nigeria (CBN)...

NCC to Eradicate the Issue of Multiple Taxation in the Telecoms Industry

NCC Proposes 14-Day Mandatory Notice Before SIM Deactivation in Draft Rules

by Victoria Attah
March 3, 2026
0

The Nigerian Communications Commission (NCC) has proposed new regulations requiring telecom operators to provide subscribers with at least 14 days'...

FG Allocates N5.1 Billion for Presidential Yacht and N5.5 Billion For Student Loans

FG Unveils Livestock Export Reforms as US Congress Urges Ban on Nigeria’s Beef Shipments

by Victoria Attah
March 3, 2026
0

The Federal Government of Nigeria has announced comprehensive reforms aimed at modernising the country's livestock export sector, currently valued at...

CBN – FG incurred N930.8bn Fiscal Deficit in January and February 2023.

CBN Schedules N1.05 Trillion Treasury Bills Auction for March 5.

by Jide Omodele
March 3, 2026
0

The Central Bank of Nigeria (CBN) has announced a significant Treasury Bills auction worth N1.05 trillion, scheduled for Thursday, March...

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

Nigeria’s MTN and Airtel Record N403.2 Billion Data Revenue In Q3, 2023

MTN and Airtel Generate N3.6 Trillion from Data Services in 2025 as Consumption Hits Record Highs

March 4, 2026
Naira appreciated to N738/$ in the Parallel Market

Naira Strengthens 4.31% in February Despite Late-Month CBN Intervention

March 4, 2026

Popular Story

  • Naira appreciated to N738/$ in the Parallel Market

    Naira Strengthens 4.31% in February Despite Late-Month CBN Intervention

    0 shares
    Share 0 Tweet 0
  • MTN and Airtel Generate N3.6 Trillion from Data Services in 2025 as Consumption Hits Record Highs

    0 shares
    Share 0 Tweet 0
  • CBN Reopens Official FX Window to Licensed BDCs with $150,000 Weekly Purchase Cap

    0 shares
    Share 0 Tweet 0
  • Naira appreciates to N361.96/$ in I&E window

    0 shares
    Share 0 Tweet 0
  • Adding to Ghosn woes, Nissan slashes profit outlook to near-decade low

    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}
?>