Nigerian Tribune

Switch to desktop Register Login

$5bn not missing from Excess Crude Account - FG •Says money shared among 3 tiers of govt, Rivers got N56bn

Rate this item
(4 votes)

THE Federal Governmemt has denied media reports that N500 billion is missing from SURE-P funds, clarifying that N500 billion that  was shared to states and local governments is the amount that is wrongly described as missing.

In a statement signed by the Special Adviser to Minister of Finance, Mr Paul Nwabuikp  the minister explained that  “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,” adding 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,” the statement said.

Leave a comment

Make sure you enter the (*) required information where indicated. HTML code is not allowed.

The contents of the website are copyright of African Newspapers of Nigeria (ANN) Plc. All rights, including copyright, in the content of ANN Plc web pages are owned or controlled for these purposes by ANN Plc. You are not permitted to copy, re-produce, download, store (in any medium), adapt or change in any way the content of this website for any other purpose whatsoever without the prior written permission of the ANN Plc. In accessing this website, you agree that you may only download the content for your own personal and non-commercial use. © Copyright 2004-2014 African Newspapers of Nigeria Plc | All Rights Reserved | Site Designed by Tribune Web Team

Top Desktop version