Senate approves N75b budget for Police Trust Fund

THE Senate today okayed the budget of the Nigeria Police Trust Fund for the 2021 fiscal year.

The total sum of N74,773,601,916 billion was passed after the presentation of the report of the Joint Committee of the Senate and House of Representatives on Police Affairs by the chairman of the Senate Committee, Dauda Halliru Jika.

According to reports, the approval by the Senate was the second since the Act that established the Fund was floated in 2019.

Senator Jika, while making his presentation, stated that the total revenue roll-over from 2020 was N23,632,857,141.30 while giving the breakdown as N988,279,006.05, N10,027,610,310.25, and N11,015,889,316.30 as Personnel Cost, Overheads, and Recurrent Expenditures, respectively. The sum of N63,757,712,600.00 was further earmarked for Capital Expenditure.

The Bauchi central Senator gave the 2021 accrued revenue as follows: 0.5 per cent of the Total Revenue Accrued to Federation Accounts Revenue at N41,867,680,099.00; 0.05 per cent of Total Value Added Tax (VAT) N8,824,064,676.00; 0.05 per cent of the Net Profit of Companies in Nigeria – N300,000,000; and Aids, Grants, and Donations – N150,000,000.