A Review of the Nigerian Energy Industry

Nigeria spends N105bn on Subsidy Re-investment Programme

17 August 2012, Sweetcrude, ABUJA – CHAIRMAN of Nigeria’s Subsidy Reinvestment and Empowerment Programme, SURE-P, Dr Christopher Kolade, says the government has in a period of seven month spent about N105 billion on the scheme.

Kolade made this known in Abuja, Thursday, in a chat with journalist on the activities of the body set up by the government as an intervention fund charged with overseeing and ensuring the effective and timely implementation of projects to be funded with savings from the partial removal of subsidy on petrol. It was set up in January this year.

He stated that the government releases the sum of N15 billion monthly as funds to be utilised for various projects within the scope of the SURE-P.

He also said the total sum of N180 billion is expected to be approved for the programme before the end of the year but explained that not all the funds being granted for the scheme has been released.

“If you are careful to look at the media publications by the Federal Ministry of Finance, you can see that N15 billion is being approved monthly by the Federal Government and if you do the calculation it amounts to N105 in Seven months excluding August but in the spending the payments will not be approved until projects have been verified”, he said.

He also revealed that progress are being made at various ongoing works being handled by the six sub-committees of SURE-P, including maternal and child health, community service, women and youth employment, infrastructural development, public works and vocational training.

The committee chairman however noted that while they are poised to ensure that the promises of Federal Government are achieved for the benefit of the public, which he said is visible in the number of projects they have been able to commence but payment will not be made until they are satisfied with the work being done.

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  • Nigerians can only relate with this claim when the expenditure begins to impact their general wellbeing. Leadership failings and ineffectual governance over the years has made Nigerians largely suspicious of their government and government officials who steal money from the till brazenly and dare anyone to challenge them.

  • Hopefully spent well.