Thousands of young Nigerians have lost their jobs as President Muhammadu Buhari has abolished the Subsidy Reinvestment and Empowerment Programme (SURE-P).
Buhari, in a directive to the SURE-P committee via a letter from the office of the Secretary to the Government of the Federation (SGF), directed the SURE-P panel to wind down the operations of the programme on or before October 31, 2015 and submit a comprehensive report of its activities to the presidency.
Buhari also ordered a probe into the activities, funding and expenditure of the agency.
The scheme was one of the pillars of the Jonathan Transformation Agenda owing to the progressive deregulation of the petroleum industry.
In January, 2012, the decision to remove the subsidy on Premium Motor Spirit given birth the programme to undertake some development initiatives.
The SURE-P had several initiatives one of which is the Graduate Internship Scheme (GIS) that saw thousands of graduates engaged by both private and public institutions as trainees.
At the end of 2014, the number of firms under the GIS shot to 11, 304 with 3,213 activated” and enrollees and participating graduate interns at 20,898.