There are indications that the Federal Government’s Subsidy Reinvestment and Empowerment Programme (SURE-P) may not continue beyond this year.
SURE-P chairman, Gen Martin Luther Agwai (rtd) said poor budgeting for SURE-P activities may make it impossible for the programme to continue beyond this year.
Speaking during an end of year dinner for journalists held in Abuja, he lamented that the entire N102 billion budgeted for SURE-P in 2015 was about N2billion less than what was budgeted for roads and bridges under SURE-P in 2014.
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He explained that the entire amount budgeted for the programme in 2015 was just what was allotted to road projects (N104 billion) out of the N268.37 billion budget in 2014 and warned that SURE-P may cease to exist after 2015 if the trend continues.
“This is the danger of relying on oil as a major revenue earner,” he noted.
Agwai further stated that, “SURE-P can’t perform equitably in 2015 and may cease to be after 2015.
We must prepare for the worst case scenario that SURE-P may disappear. If SURE-P’s story isn’t the same next year, that is the reason.”
Earlier, he expressed appreciation to the media for its critical analysis of the SURE-P implementation procedure and processes, noting that this has helped them improve their strategies towards effective and efficient delivery of the SURE-P mandate.
“Through you the media, the scepticism over the establishment of SURE-P and its benefit to the socioeconomic wellbeing of our country and the citizenry has abated. This is evident through the judicious use of all of the 41 per cent share of the funds accrued to the federal government from the partial removal of fuel subsidy on the pump price of petroleum,” he added.