Dr Christopher Kolade, the chairman of the Subsidy Re-investment and Empowerment Programme (SURE-P), has revealed that about N70 billion was expended by the programme on projects in the last six months of 2012.
Dr. Kolade made this known when speaking to State House correspondents after presenting the SURE-P 2012 annual report to President Goodluck Jonathan. He noted that the committee could not do more because its funds were not released on time.
According to him, “Although we were inaugurated in February, we did not get the first release of funds to our committee until July so the first six months of the year had passed. In the remaining six months of the year, we actually did work to the tune of over N70 billion. If we had N180 billion for the whole year and we spent N70 billion plus in six month, it means that we worked at the rate we were supposed to work. You know that the beginning of something new is bound to take off slowly. It cannot suddenly start running. It was a normal start and it was accelerating as we went through the year.
Kolade gave the reason for seeking the audience of the president, saying “having worked through the rest of 2012, it was good time to come and give the President a report of our activities in that year, especially as we have now started a new year. This meeting was to give President the annual report of SURE-P for the year 2012.”