Police Trust Fund gets N75bn budgetary approval from Senate
The Senate on Wednesday approved the sum of N74, 773,601,916 billion as the 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, said the 2021 NPTF budget was the second since the establishment Act came into being in 2019.
Halliru-Jika revealed that the total revenue roll-over from 2020 was N23, 632,857,141.30.
Giving a breakdown of the budget, the lawmaker said the sum of N988,279,006.05 is for Personnel Cost; N10,027,610,310.25 for Overhead Expenditure; N11,015,889,316.30 for Recurrent; and N63,757,712,600.00 for Capital Expenditure.
He explained that the 2021 accrued revenue were 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, 824,064,676.00; 0.05 percent of the Net Profit of Companies in Nigeria – N300,000,000; and Aids, Grants, and Donations – N150, 000,000.