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Senate Approves N74.773bn Budget For Police Trust Fund

 

The Senate on Tuesday, 29 June, 2021 approved the sum of N74.773 billion as 2022 budget for the Nigeria Police Trust Fund.

The approval followed the consideration of a report by the Joint Committee of the Senate and House of Representatives on Police Affairs. 

Chairman of the Senate Committee on Police Affairs, Dauda Halliru Jika (APC, Bauchi Central), in his presentation, observed that the 2021 NPTF budget is the second since the establishment Act came into being in 2019.

He disclosed that the total revenue roll-over from 2020 was N23.632 billion.

Giving a breakdown of the budget, the lawmaker said the sum of N988.279 million is for Personnel Cost; N10.027 billion for Overheads Expenditure; N11.015 billion for Recurrent; and N63.757 billion for Capital Expenditure. 

He explained that the 2021 accrued revenue are as follows: 0.5 percent of the Total Revenue Accrued to Federation Accounts Revenue at N41,867,680,099.00; 0.05 percent of Total Value Added Tax (VAT) N8.824 billion; 0.05 percent of the Net Profit of Companies in Nigeria – N300 million; and Aids, Grants, and Donations – N150 million. 

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