The Minister of Finance, yesterday, denied Senate allegation
that N500 billion was missing from the SURE-P funds.
A statement signed by the Special Adviser Media to the
Coordinating Minister of Finance, Paul Nwabuikwu, said “contrary to some recent
media reports, there is no missing N500 billion from SURE-P funds. The claim is
completely false.
“The total expected funds for SURE-P from subsidy savings
for the Federal, state and local governments is N816 billion from February 2012
to December 2013. (Please note that SURE-P started in February 2012.)
“The Federal Government portion managed by the Kolade
Committee for the period February 2012 to September 2013 is N300 billion after
deductions for Stabilisation and other Special Accounts.
“As Dr Christopher Kolade confirmed to the National Assembly
recently, this is the amount which SURE-P at the Federal level has received
from the Federal Government. The balance of N500 billion went to the states and
local governments which also have their own SURE-P programmes. This is the
amount that is wrongly described as missing”.
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