Senate has approved N74.7bn budget for Police Trust Fund.
Gatekeepers News reports that the Senate has approved the sum of N74,773,601,916 billion as the 2021 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 during plenary.
Chairman of the Senate Committee on Police Affairs, Dauda Halliru Jika in his presentation, noted that the 2021 NPTF budget is the second since the establishment Act came into being in 2019.
He added that the total revenue roll-over from 2020 was N23,632,857,141.30.
Jika while giving a breakdown of the budget said the sum of N988,279,006.05 is for Personnel Cost; N10,027,610,310.25 for Overheads Expenditure; N11,015,889,316.30 for Recurrent; and N63,757,712,600.00 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) N8,824,064,676.00; 0.05 percent of the Net Profit of Companies in Nigeria – N 300,000,000; and Aids, Grants, and Donations – N150,000,000.
