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Sovereign Wealth Funds Briefing - Categorized | Financials, Fund Management/Administration

$5bln not missing from Excess Crude Account

Posted on 20 November 2013

The Federal Governmemt has denied media reports that N500 billion is missing from SURE-P funds, clarifying that N500 billion that was shared to states and local governments is the amount that is wrongly described as missing.
In a statement signed by the Special Adviser to Minister of Finance, Mr Paul Nwabuikp the minister explained that “the total expected funds for SURE-P from subsidy savings for the Federal, state and local governments is N816 billion from February 2012 to December 2013,” adding that “SURE-P started in February 2012.”…………………………………Full Article: Source


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