The upper chamber said the funds ought to have been released to SURE-P for the implementation of its projects.
A member of the Senate Committee on SURE-P, Senator Kabiru Marafa, disclosed this at a scheduled meeting with Minister of Petroleum Resources, Mrs. Diezani Allison-Madueke and Central Bank of Nigeria (CBN) Governor, Mallam Sanusi Lamido Sanusi.
Marafa noted that the committee wrote the Ministry of Petroleum Resources requesting the quantity of fuel it supplied for consumption since the inception of SURE-P in 2012 which was 21 months (January 2012 to September 30, 2013.)
He noted that the Ministry of Petroleum Resources responded that 25 billion litres of PMS (fuel) was supplied within the period under review.
He said that since N32 was SURE-P component of oil subsidy, the committee multiplied 25 billion litres of PMS the Ministry supplied by N32 which gave about N800 billion.
The lawmaker added that the leadership of SURE-P had at a meeting with the Senate Committee put the total money released for SURE-P activities at N300 billion.
He said that SURE-P also told the committee that it receives N15 billion monthly for its activities.
According to him, “since SURE-P claimed that it received a total of N300 billion, it means that N500 billion that should have accrued to SURE-P is missing.
“We are curious to know what happened to the N500 billion. We also want to know why CBN has been remitting N15 billion to SURE-P monthly. This is because the releases to SURE-P should have varied according to PMS consumption but we hear that N15 billion is remitted to SURE-P monthly.”
Source: The Nation
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