President Muhammadu Buhari has scrapped the controversial multi-billion naira Subsidy Reinvestment and Empowerment Programme (SURE-P) set up by the administration of former President Goodluck Jonathan.
This is coming following allegations of mismanagement of funds, by the Senate, who had yesterday, asked the President to begin immediate probe of the administration of his predecessor, in the handling of the Subsidy Re-investment and Empowerment Programme, SURE-P.
President Buhari in the letter through the SGF, Babachir David Lawal directed the committee headed by Ishaya Dary Akau to wind down the operations of SURE-P on or before October 31, 2015 and submit a comprehensive report of its activities to the presidency.
He also ordered a probe into the activities, funding and expenditure of the agency.
SURE-P was an intervention project, where funds raised from the partial removal of oil subsidy in 2012 were used to carry out major projects by the federal government.
The money raised was shared to state and local governments.
The projects carried out by SURE-P programme were in categories; component A; Social safetiness, Component B; Niger-Delta Development project; Component C; road infrastructure projects; Component D; rail transport project, Component E; water and agricultural projects, Component F; selected power projects, Component G; Petroleum NNPC Projects, Component H; ICT projects.
The first chairman of the SURE-P committee was boardroom guru, Dr. Christopher Kolade, after his resignation, Gen. Martins Agwai was named until he was sacked towards the end of Jonathan’s administration and Akau was named to replace under whom the agency has been scrapped