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FG announces plan to cut cost, save ₦10billion

by admin
August 21, 2024
in Breaking News
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By: Street News Desk

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As Nigeria gears up to participate in the 29th UN Climate Change Conference (COP 29) in Baku, Azerbaijan, slated for November 11-22, 2024, the Federal Government has announced plans to cut saving measures that would save the country no fewer than ten billion naira.

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The presidential special envoy on climate action, and special to the president on media and publicity Chief Ajuri Ngelale, disclosed this at the State House on Tuesday, while briefing the media on Nigeria’s preparation for the forthcoming climate conference.

He also announced that the government would strictly implement cost saving measures that would save the nation nearly ₦10 billion during COP 29 relative to expenditures made during COP 28 in Dubai last year.

“President Bola Tinubu is fully aware of and sensitive to the economic conditions confronting our people, and as a result, he approved an audit of the expenditure profile of last year’s COP 28 climate conference. While there was deliberate misinformation regarding the delegation size, our investigation clearly identified inefficiencies that required immediate remedies.

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“The President had approved that the Office of the Special Presidential Envoy on Climate Action in collaboration with the National Council on Climate Change establish the Climate Accountability and Transparency Portal (CAT-P) as a tool for every Nigerian to verify the number of delegates attending COP 29 later this year.

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”This will, among other things, ensure that all members of the delegation across ministries, departments and agencies at the federal and state levels, as well as the legislative branch of government, are captured on a transparent portal. Nigerians will have full-and-real-time access into the data concerning who is attending and those the government is sponsoring to COP 29.

Chief Ngelale said concerns were raised about the size of Nigeria’s delegation and the associated expenditures during COP 28 in Dubai.

He noted that in response, President Tinubu authorized an audit to fully understand and ascertain what happened and what must be done to ensure that such inefficiencies are not repeated.

According to him, the audit revealed significant wasteful expenditures at COP 28, including nearly $500,000 spent on a showcase pavilion in addition to a number of wasteful sub-contracts and consultancies, among many other avoidable expenses.

”This review and resolution process is conducted with a view to ensuring that whatever is spent ahead of COP 29 has a function that will lead to the economic empowerment of our people and the economic development of our nation.

”Additionally, this will also ensure that anyone who is attending this conference has an economic imperative to be at that conference, engaging with companies, multilateral partners and stakeholders who will attract finance and opportunity into the country for the benefit of our people.

”Anyone who is not engaging in activities that are directly linked to the attraction of climate engagement, business opportunity, and ushering new finance into the country will not be part of the federal government’s delegation this time around,” the Special Envoy said.

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Ngelale further explained that the Nigerian delegation will efficiently utilize the on-site delegation office with a time slotting system within the conference complex, which will cost less than 10 percent of the amount spent the previous year on the pavilion.

”This is the change that Nigerians have asked for. This is the change that President Tinubu is giving to them,” Chief Ngelale told reporters at the briefing.

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