Senate approves N74.773bn budget for Police Trust Fund
The Senate on Tuesday 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.
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 N23,632,857,141.30.
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 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 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 – N 300,000,000; and Aids, Grants, and Donations – N150,000,000.