Senate May Scrap SURE-P Over Missing N500bn

The Senate ad-hoc Committee on Subsidy Reinvestment and Empowerment Programme, SURE-P, yesterday, raised alarm that N500 billion realised from the subsidy programme of the Federal Government was missing.
According to the committee, the amount was part
of the N800 billion said to have been realised
between January 2012 and September 2013 from
the 25 billion litres of petroleum sold by the
Nigerian National Petroleum Corporation, NNPC,
within the period.
The Senate Special Committee which was irked by
the development, threatened that it may
recommend the scrapping of SURE-P, which it
noted, had become a drain pipe.
It further frowned at the alleged lack of
transparency and accountability in the
management of the programme, a development, it
said, was contrary to the original concept of SURE-
P.
The Senator Abdul Ningi-led Senate Ad-hoc
Committee on SURE-P, decried alleged nonchalant
attitude and lack of respect for constituted
authority by the Minister of Petroleum Resources,
Diezani Alison-Madueke; Governor of Central Bank
of Nigeria, CBN, Sanusi Lamido Sanusi and the
Group Managing Director of NNPC, Andrew Yakubu,
for snubbing its invitation to appear before it and
explain certain issues.
The committee equally stated that going by
available records, about N300 billion had been
released to SURE-P, while only N207 billion was
spent without proper accounting for the balance of
N93 billion.
Chairman of the committee, Senator Ningi, said:
"Today, again, we sat here glued to our sits for over
one hour, awaiting the arrival of the officials of
NNPC or their agents and the Central Bank or their
agents.
"As we speak, we sent letters of invitation to both
agencies, which were duly acknowledged.
"I have been a member of the National Assembly
right from inception and I have never seen this
kind of impunity and disregard for constituted
authority," Ningi said. [Vanguard] www.informationng.com/2013/11/senate-may-scrap-sure-p-over-missing-n500bn.html