Subsidy: Jonathan Constitutes Re-Investment Board

President Goodluck Jonathan on Monday appointed Dr Christopher Kolade, the Chairman of the Board of Subsidy Reinvestment and Empowerment Programme (SURE).

The board is to oversee and ensure the effective and timely implementation of projects to be funded with savings of the Federal Government from the subsidy removal.

A statement from Dr Reuben Abati, the Special Adviser to the President on Media and Publicity, said Jonathan also constituted a committee to meet with labour on subsidy removal.

The committee, headed by a former Chief Justice of Nigeria, Justice Alfa Belgore, is to meet with labour and other stakeholders with a view to resolving issues that may arise from the removal of subsidy on petrol.

The statement said the SURE board would oversee the funds in the petroleum subsidy savings account and implementation of the programmes, aimed at improving the quality of life of Nigerians.

The statement listed the responsibilities of the board to include the following:

“Determine in liaison with the Ministry of Finance and Ministry of Petroleum Resources, the subsidy savings estimates for each preceding month and ensure that such monies are transferred to the fund’s Special Account with the Central Bank of Nigeria

“Approve the annual work plans and cash budgets of the various Project Implementation Units (PIUs) within the Ministries, Departments and Agencies (MDAs) and ensure orderly disbursement of funds by the PIUs in order to certify and execute projects;

“Monitor and evaluate execution of the funded projects, including periodic Poverty and Social Impact Analyses (PSIA)

“Update the President regularly on the programme;

“Periodically brief the Executive Council of the Federation on the progress of the programme;

“Appoint consulting firms with international reputation to provide technical assistance to the Board in financial and project management;

“Appoint external auditors for the fund;

“Do such other things as are necessary or incidental to the objective of the fund or as may be assigned by the Federal Government.

According to the statement, retired Maj.-Gen. Mamman Kontagora will serve as Deputy Chairman of SURE board.

Other members of the board are two representatives of the National Assembly, two representatives of organised labour and one representative of the National Union of Road Transport Workers (NURTW).

Also to serve on board are one representative of the Nigerian Union of Journalists, one representative of Nigerian Women Groups, one representative of Nigerian youth and one representative of civil society organisations.

The ministers of Finance, Dr  Ngozi Okonjo-Iweala; National Planning, Dr Shamsudeen Usman; Petroleum Resources, Mrs  Diezani Allison-Madueke and the Minister of State for Health Dr. Ali Pate, will also be members of the board.

The Special Adviser to the President on Technical Matters and six other reputable individuals from the six geo-political zones of the country, three of whom will be women, will also be on the board.

Members of the Belgore Committee are Mr Chibuike Amaechi, Rivers Governor and Chairman of the Governors’ Forum, Governors Babangida Aliyu of Niger, Peter Obi of Anambra, Adams Oshiomhole of Edo and Sule Lamido of Jigawa.

Other members of the committee  Minister of Labour and Productivity, Chief Emeka Wogu, the Special Adviser to the President on Inter Party Affairs, Sen. Ben Obi, and  Mrs Ngozi Olajemi.