The Federal Government has saved N60 billion from the fuel subsidy removal as its share from the Federation Account to pursue community service, youth and women empowerment through the Subsidy Removal Empowerment programme (SURE-P).
The Coordinating Minister of the Economy and Minister of Finance Dr Ngozi Okonjo-Iweala stated this yesterday in Minna at the launching of the programme at Justice Legbo Kutigi Conference Centre Minna.
She disclosed that the amount was the Federal Government’s share and different from what accrued to the state governments from the subsidy removal adding that the N60 billion which has accrued since the removal, of subsidy in January this year was saved in a separate account in the Central Bank of Nigeria (CBN).
According to her, the target of the Federal Government was to collaborate with the 36 state governments and the Federal Capital Territory authority to create 370, 000 jobs for the jobless youth in the country.
The minister said the main targets were community service, youth employment and women empowerment, saying that “the government of President Goodluck Jonathan recognises the strategic role youths and women play in national development”.
According to her, apart from the other schemes the government would embark on the graduate retention scheme which would absolve 50,000 unemployed graduates.