FG Confirms Sponsoring 422 Delegates to COP28


By Adedapo Adesanya

The federal government has announced that only 422 of the total 1,411 Nigerian delegates at the ongoing COP28 were funded with taxpayers’ money.

This clarification followed the outrage over the size of Nigeria at the conference in Dubai, the United Arab Emirates (UAE).

The Minister of Information, Mr Mohammed Idris, disclosed this in a statement on Monday evening amidst concerns by Nigerians about the large number of the country’s delegates at the climate change conference in Dubai.

Business Post had reported that Nigeria was joint third with China behind the UAE and Brazil among all the countries present at COP28, and this had sparked reactions from citizens.

Out of the total 1,411 Nigerian delegates, 821 have the “Overflow” badges, while 590 were approved to carry the “Party” badge.

However, Mr Idris claims that not all the Party delegates were government-funded.

He said the 422 government-funded delegates were from seven broad institutions, including the Presidency which has 67 delegates.

Giving a breakdown he said, the Presidency took 67 delegates, while the office of the Vice President had nine representatives, and the National Assembly accounted for 40.

Others include the National Council on Climate Change with 32 berths, the Federal Ministry of Environment with 34, all ministries with 167 and Federal Parastatals/Agencies with 73 candidates.

Read the full statement by Mr Idris below.

Press Statement


The Federal Government has noted with interest the public conversation on the number of delegates from Nigeria attending the ongoing Climate Summit in Dubai, otherwise called COP-28, and the need to provide clarity in line with a standing pledge to conduct itself with transparency and accessibility regarding public information.

The Convention of Parties (COP) to the United Nations Framework Convention on Climate Change (UNFCCC) is the world’s pre-eminent Climate Change Conference, attended this year (COP-28) by more than 70,000 participants and delegates from over 100 countries. Nigeria’s representation is very much in line with our status as Africa’s leading Sovereign voice and player in climate action.

Parties to this Convention from Nigeria include government officials, representatives from the private sector, civil society, the voluntary sector, state governments, media, multilateral institutions, representatives of marginalised communities, and many others.

It is imperative to point out that the overall Nigerian delegation to COP-28 comprises Government-sponsored (Federal and State Governments) and non-government-sponsored participants (from Private Companies, NGOs, CSOs, Media, academia, etc).

The Federal Government-funded delegation is made up of a total of 422 persons, as follows:

1. National Council on Climate Change = 32

2. Federal Ministry of Environment = 34

3. All Ministries = 167

4. Presidency = 67

5. Office of the Vice President = 9

6. National Assembly = 40

7. Federal Parastatals/Agencies = 73

As the biggest economy and most populous country in Africa, with a substantial extractive economy and extensive vulnerability to climate change, Nigeria has a significant stake in climate action, and our active and robust participation at COP is therefore not unwarranted.

COP-28 presents an array of investment and partnership opportunities for the various sectors affected by climate change, and Nigeria is already benefiting from its ongoing participation, as demonstrated by the following:

1. Nigeria and Germany signed an accelerated performance agreement to expedite the implementation of the Presidential Power Initiative (PPI) to improve Nigeria’s electricity supply. The agreement was signed by Mr. Kenny Anuwe, the Managing Director and CEO of FGN Power Company, and Ms. Nadja Haakansson, Siemens Energy’s Senior Vice President and Managing Director for Africa, at a ceremony witnessed by President Tinubu and Chancellor Scholz.

2. President Tinubu hosted a high-level meeting with stakeholders and investors on the Nigeria Carbon Market and the Electric Buses Rollout Programme on the margins of the COP28 climate summit.

a. The President unveiled the Nigeria Carbon Market Activation Plan, co-chaired by the Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr. Zacch Adedeji, and the Director-General of the National Council on Climate Change (NCCC), Dr. Dahiru Salisu.

b. The Electric Buses program is only the first step in a series of innovative, clean, modern, and sustainable initiatives across diverse sectors, all aimed at simultaneously addressing climate change-related challenges, reducing carbon footprint, modernizing infrastructure systems, and positioning Nigeria as an attractive destination for global investments.

3. Nigeria stands to benefit from the Loss and Damage Fund established during COP-27 in Egypt and formally operationalized at the opening plenary of COP-28 in Dubai. The Fund will provide substantial non-debt financing to support countries most affected by the impact of climate change. Hundreds of millions of dollars have already been pledged as contributions to the Fund.

4. The President also met the President of UAE to concretize engagements between the two countries. This is aside from the bilateral talks held with several countries and multilateral partners.

It should be highlighted that, over the years, Nigeria has firmly demonstrated its climate action credentials by being the first African country to launch its Energy Transition Plan, the first African country to issue a Sovereign Green Bond, and one of the first to pass national climate change legislation.

President Tinubu has been unequivocal in his position that Africa, which is battling problems of poverty and security and struggling to provide education and healthcare to her people, cannot be told to abandon its primary source of income, which is mostly from extractive industries, without the West providing the funding and investment in alternative and clean energy sources.

Since assuming office, President Tinubu has been a vocal champion for the African continent on the global stage, whether at the United Nations General Assembly (UNGA), the G20, or the ongoing COP-28. The President has been supported by an equally active and engaged Nigerian delegation at these various fora.

It is, therefore, essential to keep setting the records straight while assuring Nigerians that President Tinubu and other officials on the Federal government delegation are in Dubai for serious business, not a jamboree.

Mohammed Idris

Honourable Minister of Information and National Orientation

4th December 2023

Related Stories

DSS Warns Organised Labour To Shun Planned Protest

By Adedapo Adesanya The Department of State Services (DSS) has urged Nigerians planning to protest next week led by organised labour to halt the idea. According to a statement from the spokesperson of the Nigerian secret police on Wednesday, Mr Peter Afunanya, there were plans by sections of the organised labour to stage protests in parts of the country over sundry economic issues between February 27 and 28, 2024 “While the Service recognises such action as the legitimate right of the labour movement, it, however, urges the body to shelve the plan in the interest of peace and public order,”


Wike Places N20m Bounty on Criminals in Abuja

By Adedapo Adesanya The Minister of the Federal Capital Territory (FCT), Mr Nyesom Wike, has placed a N20 million bounty on any criminal caught in the country’s capital. Mr Wike made the declaration during the parade of suspects of kidnappings and other criminalities by the FCT Police Command in Abuja He explained that on no account should criminality persist in Abuja, stating that in a couple of days, the police and other security agencies will receive more communication gadgets for intelligence gathering and other equipment needed to carry out their duties effectively. According to reports, over the last three years,


Hardship: PDP Governors Ask Tinubu to Resign

By Modupe Gbadeyanka President Bola Tinubu has been asked to resign if he is unable to bring succour to the citizens, who are suffering economic hardship over the policies of the government. On his assumption of office on May 28, 2023, Mr Tinubu announced an end to subsidies on petrol and a few weeks later, the Central Bank of Nigeria (CBN) unified the exchange rate and devalued the Naira. Since these duo policies, the prices of goods and services have continued to rise, with the Naira weakening from N461/$1 in the official market in June 2023 to N1,537/$1 at the


SERAP Seeks NNPC’s Clarity on Missing $2.04bn, N164bn Oil Revenues

By Adedapo Adesanya The Socio-Economic Rights and Accountability Project (SERAP) has called on the Nigerian National Petroleum Company (NNPC) Limited to provide an account and clarification regarding the alleged disappearance of $2.04 billion and N164 billion in oil revenues within seven days. In a statement dated February 17, 2024, and signed by its deputy director, Mr Kolawole Oluwadare, the rights group urged Mr Mele Kyari, the Group Chief Executive Officer of NNPC Limited, to identify and publicly denounce those accountable for the missing oil funds, as highlighted in the most recent annual report released by the Auditor-General of the Federation.

More Stories

US Stocks Open Lower on Looming Trump Decision on Iran Deal

By Investors Hub The major U.S. index futures are pointing to a lower opening on Tuesday, with stocks likely to give back ground after ending the previous session mostly higher. Geopolitical concerns may weigh on the markets ahead of President Donald Trump?s announcement of his decision on the Iran nuclear deal. Trump is widely expected to withdraw from the agreement, which lifted sanctions on Iran in exchange for limits on the country?s nuclear program. Overall trading activity may be somewhat subdued, however, as a lack of major U.S. economic data may keep some traders on the sidelines. After an early


How Viebeg is Expanding Access to Affordable Healthcare in Central and East Africa

Across Central and East Africa, healthcare systems and providers face challenges in procuring and keeping key medical equipment and supplies in stock. As a result, there is a lack of access to important diagnostic and therapeutic procedures, ultimately leading to preventable deaths and other negative health outcomes for patients in under-resourced communities. At the same time, many patients are often forced to travel long distances for diagnoses at local hospitals resulting in inconvenience, long wait times, and higher prices. Statista forecasts that the current health expenditure as a share of the GDP in East Africa will continuously decrease by 0.02%


Political Uncertainty May Lead to Choppy Trading on Wall Street

By Investors Hub The major U.S. index futures are pointing to a slightly higher opening on Monday, although traders may be reluctant to make significant moves amid continued uncertainty about U.S. tax reform and news of political instability in Germany. The upcoming Thanksgiving Day holiday on Thursday is also likely to keep some traders away from their desks, leading to light trading throughout the week. While selling pressure was relatively subdued, stocks saw modest weakness during trading on Friday. The major averages all moved to the downside, with the tech-heavy Nasdaq pulling back off the record closing high set in


Market Sheds 0.14% as Investors Offload Financial Stocks

By Dipo Olowookere Sustained profit-taking, especially in financial stocks, further weakened the Nigerian Exchange (NGX) Limited by 0.14 per cent on Thursday amid negative investor sentiment. The insurance sector lost 1.42 per cent, the consumer goods counter went down by 0.69 per cent, the banking index fell by 0.56 per cent, while the industrial goods space declined by 0.03 per cent. The war in Europe caused by the invasion of Ukraine by Russia seems to be favouring energy equities as the index appreciated by 4.94 per cent yesterday to finish as the sole riser. At the close of business, the


Economic Analyst Tasks New CBN Governor on Price Stability, Inflation

By Bliss Okperan A Professor of Financial Economics and Director of the Centre for Economic Policy Analysis and Research of the University of Lagos (UNILAG), Mr Ndubisi Nwokoma, has urged the newly nominated Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Michael Cardoso, to work toward price stability and tame the wild inflation. In an interview on Arise TV’s breakfast programme, The Morning Show, on September 18, 2023, Mr Nwokoma highlighted some issues the incoming apex bank chief must address to be successful. The professor charged Mr Cardoso to painstakingly tackle inflation, manage the level of money supply,


Domestic Debt Servicing Gulps N3.7tr in Three Years

By Dipo Olowookere Data by the Debt Management Office (DMO) has revealed that the sum of N3.73 trillion has been used by Federal Government to service domestic debts since 2015. In 2015, a total of N1.02 trillion was spent on domestic debt servicing, while in 2016, N1.23 trillion was used to service the local debts and N1.48 trillion was spent by government on debt servicing. According to the data obtained by Business Post, in 2017, Federal Government spent N180.6 billion to service local debts in January and N187 billion was used for the same purpose in March. In May 2017,


Naira Falls to N416.50 Per Dollar at Spot Market

By Adedapo Adesanya The Naira depreciated against the United States Dollar at the Investors and Exporters (I&E) segment of the foreign exchange (FX) market on Wednesday. At the midweek session, the exchange rate of the Nigerian currency to its American counterpart was N416.50/$1 compared with N416.00/$1 it closed on Tuesday. This indicated that the value of the Naira depreciated by 0.12 per cent or 50 kobo. This occurred as the demand for forex rose at the spot market by 37.4 per cent or $35.56 million to $130.73 million from the $95.17 million recorded the previous session, according to data from the


Forex Inflow Drops By $447m On Oil Facility Attacks

By Dipo Olowookere Central Bank of Nigeria (CBN) has disclosed in its latest data that activities of Niger Delta militants on oil installations in the region caused a decline of about $447 million in foreign exchange inflows from $1.4 billion in September to $957.3 million in October 2016. It was revealed that the total outflows also decreased during the period, dropping significantly by $1.44 billion from $2.46 billion to $1.02 billion during the same period This caused a decline in oil production to about 1.6 million barrels per day as against the budgeted production volume of 2.2 million bpd. At

Recent Stories

Purple Real Estate Welcomes Umar, Oladimeji to Board

By Adedapo Adesanya Nigerian real estate platform, Purple Real Estate Income Plc, has made significant changes to its board, marking a pivotal moment in the company’s growth strategy amid current macro headwinds. The reshuffle brings on Mr Aminu Umar and Mr Olasunkanmi Oladimeji to join the board as Non-Executive Director and Executive Director. The duo of Mr Umar and Mr Oladimeji will take over from Mrs Osareme Archibong and Mrs Fiona Ahimie, both outgoing Independent Non-Executive Directors, according to notice on NASD OTC Securities Exchange, where the company trades its securities. Commenting on the changes, the Chairman of the board,


AFCON 2023: Nigerian Content Creators See 200% Rise in Revenue, Views

By Adedapo Adesanya Content creators in Nigeria saw a 200 per cent increase in views and revenue between December 2023 and February 2024, a new study shared with Business Post showed. According to new data released by StarNews Mobile, an African video streaming platform, content creators across Africa experienced a 300 per cent surge in revenues during the 2023 Africa Cup of Nations (AFCON) held between January 13 and February 11, 2024, reaffirming the massive surge in consumption of hyper-localized content from the continent. Based on metrics from StarNews Mobile’s platform, creators in Nigeria were only outshone by their peers


Two Die, 15 Rescued in Ikoyi-Lekki Link Bridge Boat Mishap

By Modupe Gbadeyanka Two persons have been confirmed dead in a boat accident that occurred on Wednesday night at the Ikoyi-Lekki Link bridge in Lagos. The Lagos State Emergency Management Agency (LASEMA), which confirmed the incident, stated that 15 persons were rescued in the mishap. The agency stated that the boat, which was conveying 17 passengers, was heading to the Ikorodu area of the metropolis from its take-off point, Sandfil, when it capsized at the Powerline area of the popular bridge. It said the body of a female passenger, who drowned, was recovered, while the corpse of the male passenger


NPPAN Targets $10bn Contribution to Nigeria’s GDP via Palm Biomass

By Adedapo Adesanya The federal government will sign a Memorandum of Understanding (MoU) with the Malaysian government to develop palm biomass in the country as part of efforts to utilise one of the undertapped farm produces in the country. Mr Alphosus Inyang, President of the National Palm Produce Association of Nigeria (NPPAN), made this disclosure, saying palm biomass is a multi-billion dollar economy. “Biomass simply means agricultural waste and we are talking about turning waste into wealth,’’ he said in an interview with the News Agency of Nigeria (NAN) on Wednesday in Abuja. The president said NPPAN was working with


Salesforce Introduces Clean Energy Programme Management

By Modupe Gbadeyanka A new solution to help electric, gas, and water utilities increase customer participation in clean energy programmes has been introduced by Salesforce. The initiative known as Clean Energy Programme Management for Energy & Utilities Cloud streamlines the launch, management, and oversight of energy efficiency, conservation, electrification, and EV charging programs. It helps utilities manage clean energy initiatives with connected data — like energy usage and billing information — and personalised engagement to promote relevant programmes. This platform also digitises and simplifies the application process for customers, participating contractors, and utility program staff to help increase clean energy


Dangote Sugar to Borrow N50bn from Commercial Paper Sales

By Aduragbemi Omiyale The management of Dangote Sugar Refinery Plc is requesting about N50 billion from capital market investors for its short-term working capital and funding requirements. The sugar miller will get the funds from investors through the sale of commercial papers and has promised to repay in about nine months’ time. The CP sales will be conducted under its N150 billion commercial paper issuance programme approved by the regulatory authorities. It is the first series the company is selling this time and it specifically has a tenor of 266 days with a discount rate of 15.92 per cent and


NASD Unlisted Security Index Depreciates by 0.77%

By Adedapo Adesanya A 0.77 per cent loss was suffered by the NASD Over-the-Counter (OTC) Securities Exchange on Wednesday, February 21 following profit-taking in three stocks. Aradel Holdings Plc went down by N49.50 during the session to close at N2,476.50 per share versus the previous day’s N2,526.00 per share, Central Securities Clearing System (CSCS) Plc depreciated by 37 Kobo to end the day at N19.63 per unit compared with Tueday’s closing price of N20.00 per unit, and FrieslandCampina Wamco Nigeria Plc deflated by 7 Kobo to settle at N74.43 per share, in contrast to the N74.50 per share it traded


Naira Appreciates at Official Market, Falls at Black Market

By Adedapo Adesanya The Naira appreciated against the United States Dollar in the official market and the and the peer-to-peer (P2P) windows of the foreign exchange (FX) market but depreciated in the parallel market on Wednesday, February 21 as several scare tactics to ease the weakening local currency continues. In the Nigerian Autonomous Foreign Exchange Market (NAFEM), the domestic currency gained 0.6 per cent or N8.66 on the greenback to close at N1,542.58/$1 compared with the previous day’s N1,551.24/$1. However, the Naira maintained stability against the Pound Sterling and the Euro in the spot market in the midweek session at


Crude Oil Jumps as Geopolitical Tensions Persist

By Adedapo Adesanya Crude oil appreciated on Wednesday as geopolitical tensions continued in the Middle East and traders assessed signs of near-term supply tightness. Brent crude was up by 69 cents or 0.8 per cent to $83.03 a barrel while the US West Texas Intermediate (WTI) crude jumped by 87 cents or 1.1 per cent to settle at $77.91 per barrel. Houthi attacks on commercial vessels in the Red Sea and Bab al-Mandab strait have continued to stoke concerns over freight flows through the critical waterway. The Iran-aligned Yemeni Houthis have carried out repeated drone and missile strikes since November in


Investors Recover N165bn as FBN Holdings, BUA Cement, Others Gain

By Dipo Olowookere The bulls recaptured the Nigerian Exchange (NGX) Limited on Wednesday after the bears dominated for two straight days as a result of panic selling due to the macroeconomic environment, especially with the poor performance of the Naira in the foreign exchange (FX) market. During the midweek session, the local bourse finished higher by 0.30 per cent on renewed bargain-hunting activities by investors. This raised the market capitalisation of the domestic exchange by N165 billion to N55.464 trillion from N55.299 trillion, as the All-Share Index (ASI) grew by 301.71 points to 101,362.38 points from 101,060.67 points. Business Post