A
abujagirl
Guest
Contrary to the perceived lopsided siting of the intervention projects executed by the defunct Petroleum (Special) Trust Fund (PTF) in certain geo-political zones, the South-South zone got the lion’s share of the projects under the leadership of the former head of state and presidential candidate of the All Progressives Congress (APC) Gen Muhammadu Buhari.
This development and other disclosures were contained in a document obtained by LEADERSHIP last night.
The PTF was an intervention initiative put in place by the late Gen Sani Abacha regime which was operated between 1995 and 1999 to invest in socio-economic infrastructure – including in road transportation and waterways, water supply, food supply, health and education – the gains that would accrue from a new pricing regime for petroleum products introduced in October 1994, from N3.25 to N11 per litre, an increase of N7.75 per litre.
During the four years of its operation, the resources available to the PTF, according to findings, represented less than 10 percent of the nation’s budget.
From its inception in May 1995, and more particularly from January 1996 when it received its first disbursement, the PTF worked diligently in the execution of its mandate through its programmes, with an objective of resuscitating the nation’s collapsing social services and deteriorating infrastructure.
Click here to read more
SOURCE: #Leadership
#PTF
This development and other disclosures were contained in a document obtained by LEADERSHIP last night.
The PTF was an intervention initiative put in place by the late Gen Sani Abacha regime which was operated between 1995 and 1999 to invest in socio-economic infrastructure – including in road transportation and waterways, water supply, food supply, health and education – the gains that would accrue from a new pricing regime for petroleum products introduced in October 1994, from N3.25 to N11 per litre, an increase of N7.75 per litre.
During the four years of its operation, the resources available to the PTF, according to findings, represented less than 10 percent of the nation’s budget.
From its inception in May 1995, and more particularly from January 1996 when it received its first disbursement, the PTF worked diligently in the execution of its mandate through its programmes, with an objective of resuscitating the nation’s collapsing social services and deteriorating infrastructure.
Click here to read more
SOURCE: #Leadership
#PTF