Peoples Daily Online

Page 1

www.peoplesdaily-online.com

Vol. 9 No. 82

Tuesday, December 4, 2012

. . . putting the people first

Al-Muharram 19, 1434 AH

N150

SURE-P aiding capital flight, unemployment – NASS By Ikechukwu Okaforadi

T

he Senate and House of Representatives Joint Committee on Petroleum (Downstream) yesterday queried the Christopher Kolade-

led board of the Subsidy Reinvestment Programme (SURE-P), for spending subsidy funds on projects that encourage capital flight and unemployment rather than creating jobs for Nigerians as

preached by the President. This is coming on the heels of calls last week by federal lawmakers demanding that the programme be outrightly scrapped for perceived failure to achieve its mandate.

Members of the joint committee told the SURE-P board who were at the National Assembly to defend the programme’s 2013 budget that they were deeply worried that given the manner of policy

initiation and implementation by the SURE-P, it is likely that the committee will end up like others set up in the past. Chairman of the joint committee, Senator Magnus Contd on Page 2

RIBADU REPORT:

How FG plundered NNPC accounts Presidential chopper Presidential committee Sponsorship of World Cup

By Richard Ihediwa

F

resh facts have emerged about how Federal Government officials turned the Nigeria National Petroleum Corporation (NNPC)

PD INDEX

3rd Dec., 2012

CBN RATES $ £ EURO CFA RIYAL

BUYING 154.76 246.91 197.25 0.2831 41

SELLING 155.76 248.51 200.54 0.3031 41.5

PARALLEL RATES EURO £ RIYAL $

BUYING 207 255 42 157

SELLING 209 256 44 158

into a cash cow. The final report of the Nuhu Ribadu led Petroleum Revenue Special Task Force obtained by Peoples Daily revealed details of movement of huge sums of money from the corporation’s accounts for loans and presidential purchases outside its mandate. The final report, dated November 1, 2012 and submitted to the Minister of Petroleum Resources, Diezani Alison-Madueke also showed huge sums of unremitted revenue with the NNPC and its subsidiary companies especially the Department of Petroleum Resources (DPR) as well as the list of companies used by briefcase contractors and government officials to steal the Contd on Page 2

Protests as Kaduna swears-in council chairmen >> PAGE 2

– N2.230 bn – N19.878bn – N866.2m

Borno state Governor, Alhaji Kashim Shettima (middle), assessing 1000 dilapidated hospital beds refurbished by technicians at the state owned Ramat Polytechnic, yesterday, in Maiduguri.

Boko Haram Northern creation, says Baba Ahmed >> PAGE 2

Budget: Okonjo -Iweala explains 4th quarter releases >> PAGE 3


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