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Senate Queries Trade Minister over N1Bn Allocation for Geneva Trip

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Doris Nkiruka-Anite Uzoka, minister of Trade, Industry and Investment
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Senate on Tuesday berated Doris Nkiruka-Anite Uzoka, minister of Trade, Industry and Investment, over allocation of a N1 billion in 2024 budget proposal for a trip to Geneva.

Senate Queries Trade Minister over N1Bn Allocation for Geneva Trip

Doris Nkiruka-Anite Uzoka, minister of Trade, Industry and Investment

Uzoka had  during her defence of the 2024 Budget before the Senate Committee on Trade, on Tuesday, disclosed the budgetary provisions in a document.

Adams Oshiomhole, former Edo State governor and Senator representing Edo North, however dismissed the estimate as humongous and a waste of public funds.

Oshiomhole tasked her to shelve the Geneva trip and make use of experts in her Ministry.

“I see that you intend to travel to Geneva next year and you have budgeted over one billion Naira for that. We can’t keep going on with over-bloated teams on abroad trips. Use the experts we have in your offices in that country to save cost,” he said.

Oshiomhole also accused the Minister of always abandoning her desk and on permanent visits to the Bank of Industry.

He said: “Madam, sit in your office and work for Nigerians. I have gone there twice. You are always in the BOI. If you preferred BOI, you should have declined the President’s nomination to be Minister.

The former President of the Nigeria Labour Congress (NLC) also picked holes in Nigeria’s balance of trade with other countries.

“What is our balance of trade? Especially with China. Those countries importing things to Nigeria are expected to build factories in Nigeria. We have to take advantage of our population to grow our industries.”

She could, however, not give a convincing narrative as she said that her Ministry has no record of balance of trade with other nations.

“Sir, I regret to say that we seem to have no record of our balance of trade.

“Or at least, it doesn’t exist in the Ministry and that is why we initiated a new unit called Trade Intelligence Unit to ensure that such data are generated and stored.”

Oshiomhole insisted that there was data at the Central Bank of Nigeria (CBN), Nigeria Customs Service (NCS) and other agencies, which the Ministry has failed to access.

“No, Madam, I don’t agree that there is no data. Such data exists with the CBN, Customs and other agencies.”

Earlier in her presentation, the Minister told the lawmakers that her Ministry “remains committed to achieving its vision of promoting economic growth, creating jobs and generating wealth as well as formulating and implementing policies and programmes that attract foreign direct investments, boost industrialization, increase trade and exports as well as encourage the development of enterprises.”

She further said the “Ministry is currently implementing strategic policies, plans and programmes targeted towards economic recovery and growth for employment generation and wealth creation for the generality of Nigerians.

“Some of these plans, programmes and policies are the Nigerian Industrial Revolution Plan (NIRP), the National Enterprise Development Programme (NEDEP), the Trade Policy of Nigeria (2023-2027) and the Nigerian Investment Policy (2023-2027).

“In addition, the Ministry has continued to play a vital role in facilitating the Ease of Doing Business which has led to a substantial increase in investments in the local economy and enhanced the industrialization efforts of government.”

 

 


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UK–Nigeria Skills and Schools Trade Mission Concludes with Strong Foundations for Education Partnership

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A high-level UK delegation has concluded a week-long skills and schools trade mission to Nigeria, marking a significant step forward in education and skills cooperation between the two countries.

Running from 19-23 April 2026 across Abuja and Lagos State, the mission brought together leading UK private schools, skills providers, and education institutions with Nigerian partners, schools, and the Honourable Minister of Education Dr Tunji Alausa.

The mission follows the high profile and well received state visit to the UK in March, which also included education engagements.  Supported by the UK’s Department for Business and Trade (DBT), the mission forms part of its new International Education Strategy, under which Nigeria has been identified as one of five priority education markets, spearheaded by Professor Sir Steve Smith, who is looking forward to visiting the country again this year.

The mission focused on in-country delivery of education, the establishment of world-renowned UK schools in Nigeria, and the development of skills and Technical and Vocational Education and Training (TVET) systems aligned with industry demand.

In Abuja, the delegation met with Nigeria’s Honourable Minister of Education, Dr Tunji Alausa, securing strong political backing for UK–Nigeria education partnerships and set the groundwork for ongoing institutional collaboration across both schools and skills.

In Lagos, delegates engaged further with potential partners and investors. In both cities the delegation was thrilled to visit local British curriculum schools and colleges to further enable them to experience first-hand the teaching and learning environment.

British Deputy High Commissioner, Jonny Baxter, said: “The UK and Nigeria share a deep and longstanding relationship, and opportunities in education are one of its most exciting frontiers.

“This mission has demonstrated the strong appetite on both sides to deepen collaboration in education and skills.”

“By bringing together UK schools and skills providers with Nigerian partners and policymakers, we are laying the foundations for even more long-term partnerships that support Nigeria’s education priorities, strengthen skills aligned to industry needs, and create opportunities for sustainable, in-country delivery as well as positioning Nigeria as the regional hub for high quality education.”

DBT Head of International Education, Sarah Chidgey, said: “This mission is a perfect example of the International Education Strategy being put into action, building on multiple two-way visits and the UK and Nigeria’s warm relationship. It has been heartening to see all the progress in UK Nigeria education collaboration since my first visit to Nigeria, as part of a wider delegation, in 2022.”

DBT’s mission concluded with a strong pipeline of follow-up activity, including targeted one-to-one meetings, MoU discussions, and agreed next steps between UK and Nigerian counterparts.

 


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Tinubu Seeks Senate Approval for $516m Sokoto-Badagry Highway Loan

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President Bola Tinubu has requested Senate approval for a $516.3 million foreign syndicated loan to fund key sections of the Sokoto-Badagry superhighway, a cornerstone of his Renewed Hope Agenda.

Tinubu Seeks Senate Approval for $516m Sokoto-Badagry Highway Loan

Tinubu

 

In a letter read by Senate President Godswill Akpabio during Thursday’s plenary, Tinubu invoked Sections 16 and 21 of the Debt Management Office Act, 2011, to secure financing via Deutsche Bank AG for Sections 1, Phase 1A, and 1B. The 1,000-kilometre project will span Sokoto, Kebbi, Niger, Kwara, Oyo, Ogun, and Lagos states, linking Illela to Badagry and boosting trade, connectivity, and goods movement.

The nine-year loan, with a three-year grace period and interest at SOFR plus 5.3 per cent, includes a partial risk guarantee from the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC). The Federal Government will provide over ₦265 billion in counterpart funding for land acquisition and infrastructure.

Akpabio referred the request to the Senate Committee on Local and Foreign Debts for a one-week turnaround report. He endorsed the borrowing, stating it advances road safety and national integration.

The highway aims to cut travel times and stimulate economic corridors, with the Federal Executive Council already approving the plan.


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Karex, World’s Top Condom Maker to Hike Prices due to Iran war

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Karex, world’s largest condom maker, plans to raise prices by up to 30 percent due to supply disruptions linked to the Iran war.

Karex, World's Top Condom Maker to Hike Prices due to Iran war

This means that safe sex could get more expensive if the war continues to disrupt global supply chains, according to Goh Miah Kiat, CEO, Karex.

Kiat told old Reuters that rising freight costs and shipping delays have increased demand and forced the company to pass costs to customers.

Broader supply chain issues and higher oil prices could impact many everyday products that rely on petrochemicals.

“The situation is definitely very fragile, prices are expensive… We ​have no choice but to transfer the costs right now to ⁠the customers,” Goh told Reuters.

Karex joins a growing list of companies that are bracing for supply chain disruptions amid the ongoing war in Iran.

Based in Malaysia, Karex produces condoms, personal lubricants, gloves, medical catheters and probe covers.

The company manufactures male latex condoms including ONE, Trustex, Carex and Pasante, and it can produce over 5 billion condoms annually. Karex also exports to more than 130 countries, according to its website.

“We’re seeing a lot more condoms actually sitting on vessels that have not arrived at their destination but are highly required,” Goh said.

 


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