{"id":137422,"date":"2024-01-09T15:12:06","date_gmt":"2024-01-09T15:12:06","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/01\/09\/trade-ministry-allocates-n1-billion-for-roadshows-furniture-and-rebrandin\/"},"modified":"2024-01-09T15:12:06","modified_gmt":"2024-01-09T15:12:06","slug":"trade-ministry-allocates-n1-billion-for-roadshows-furniture-and-rebrandin","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/01\/09\/trade-ministry-allocates-n1-billion-for-roadshows-furniture-and-rebrandin\/","title":{"rendered":"Trade Ministry Allocates N1 Billion for Roadshows, Furniture, and Rebrandin"},"content":{"rendered":"<p><\/p>\n<div>\n<figure id=\"attachment_903082\" aria-describedby=\"caption-attachment-903082\" style=\"width: 1080px\" class=\"wp-caption aligncenter\"><img fetchpriority=\"high\" decoding=\"async\" class=\"size-full wp-image-903082\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2023\/12\/Screenshot_20231213-071044_Opera-Mini.jpg\" alt=\"Doris Uzoka, minister of trade, industry, and investment,\" width=\"1080\" height=\"523\"  \/><figcaption id=\"caption-attachment-903082\" class=\"wp-caption-text\">Doris Uzoka<\/figcaption><\/figure>\n<p>In the 2024 budget breakdown, the Ministry of Industry, Trade and Investment has revealed plans to allocate N1 billion for roadshows, rebranding, furniture, and investment promotion.<\/p>\n<p>Out of the total budget of N14.1 billion, the ministry aims to spend N500 million on rebranding and investment promotion, with an additional N500 million earmarked for furniture fittings.<\/p>\n<p>The budget distribution indicates that recurrent expenditure will absorb N6 billion, while capital expenditure will utilize N8 billion.<\/p>\n<p>Personnel cost is allocated N5.12 billion, overhead costs are set at N905 million, while capital expenditure is designated to consume N8.13 billion.<\/p>\n<p>A detailed breakdown of the budget includes N582 million for the rehabilitation and repair of office buildings, N500 million for creating new offices and partitioning at the Ministry\u2019s headquarters building, and N500 million for implementing trade facilitation under the one-stop export window program.<\/p>\n<p>Additionally, N300 million is allocated for digitising and onboarding the retail export platform.<\/p>\n<p><strong>READ ALSO: N1.6bn Budget Is For Nigeria\u2019s Trade Office In Geneva, Not Foreign Trip \u2014 Minister<\/strong><\/p>\n<p>Notably, the budget includes N1 billion for the survey, feasibility, and development of a pipeline of investable assets for foreign and local investments.<\/p>\n<p>Another N1 billion is allocated for establishing a Trade Intelligence Unit.<\/p>\n<p>The move to establish a Trade Intelligence Unit was prompted by the Ministry\u2019s admission that it lacks data on Nigeria\u2019s trade balance with other countries.<\/p>\n<p>Recall that the Industry Minister, Doris Uzoka-Anite, acknowledged this shortfall while addressing a Senate committee, expressing the ministry\u2019s commitment to rectifying the issue.<\/p>\n<p>The Trade Intelligence Unit aims to generate and store data related to Nigeria\u2019s balance of trade, providing essential insights into the nation\u2019s exports and imports.<\/p>\n<p>The budget signals a strategic effort to address gaps in trade data and enhance the ministry\u2019s capabilities in managing trade relationships.<\/p>\n<div class=\"code-block code-block-7\" style=\"margin: 8px auto; text-align: center; display: block; clear: both;\">\n<div data-advadstrackid=\"890536\" data-advadstrackbid=\"1\" class=\"infor-target\" id=\"infor-971252818\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2023\/12\/300x250b.gif\" alt=\"\" width=\"300\" height=\"250\"\/><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Doris Uzoka In the 2024 budget breakdown, the Ministry of Industry, Trade and Investment has revealed plans to allocate N1 billion for roadshows, rebranding, furniture, and investment promotion. Out of the total budget of N14.1 billion, the ministry aims to spend N500 million on rebranding and investment promotion, with an additional N500 million earmarked for [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":137423,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-137422","post","type-post","status-publish","format-standard","has-post-thumbnail","category-nigeria-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Trade Ministry Allocates N1 Billion for Roadshows, Furniture, and Rebrandin - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/01\/09\/trade-ministry-allocates-n1-billion-for-roadshows-furniture-and-rebrandin\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trade Ministry Allocates N1 Billion for Roadshows, Furniture, and Rebrandin - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Doris Uzoka In the 2024 budget breakdown, the Ministry of Industry, Trade and Investment has revealed plans to allocate N1 billion for roadshows, rebranding, furniture, and investment promotion. 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