Abia set to reap from fuel subsidy withdrawal

Posted by Boniface Okoro, Umuahia | 13 September 2012 | 4,464 times

Gmail icon

Abia State is finally set to reap from last January’s partial withdrawal of fuel subsidy by the Nigerian Government following the inauguration of an 11-member SURE-P Board by the state government.

SURE-P (Subsidy Reinvestment Programme) is the effect-cushioning scheme announced by President Goodluck Jonathan in the heat of the protests that rocked parts of the country when the fuel subsidy was withdrawn on January 1. The government was forced to restore part of the subsidy in reaction to the protests.

Abia Governor Theodore Orji, while inaugurating the board of the state SURE-P at Executive Chambers of Government House on Tuesday, explained that it would supervise utilisation of subsidy savings and ensure accountability in implementation of projects of carefully designed schemes of investments in selected priority areas.

“Today, we are here to inaugurate the Abia State version of the Board of our SURE Programme,” Orji said. He charged the board members to ensure that they implement the state’s SURE-P with a “human face for the benefit of the needy and the entire state.”

The governor also charged them to identify areas that would bring even and wide-spread development in the state.

Chairman of the board who is drawn from the private sector, Chief Chris Nkwonta, on behalf of other members, expressed gratitude to the governor for choosing them to serve the state and assured that they would not disappoint Abians.

It has been projected that with the removal of oil subsidy, a total fund of N1.134 trillion (based on average cost of US $90 per barrel), would be available this year for re-investment in Nigeria in real areas of citizens needs.

News Express learnt that of the above amount, the federal government is expected to reap N478.49 billion while N411.036 would accrue to the states and N203.23 billion would be available to the local government areas.

Utilisation of these subsidy savings available to each level of government directed to the SURE-P is to be supervised by a board which would approve areas of investment.

*Photo: Gov. Theodore Orji of Abia State in a handshake with Sir Chris Nkwonta, Chairman Abia State SURE-P Committee, after their inauguration in Umuahia.

Source: News Express

Readers Comments

0 comment(s)

No comments yet. Be the first to post comment.

You may also like...