Senate approves N74bn for Police Trust Fund


The Nigerian Senate has approved the sum of N74, 773,601,916 billion as the 2021 budget for the Nigeria Police Trust Fund.

This was approved during plenary of the red chamber on Wednesday after 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 explained that the 2021 NPTF budget is the second since the establishment Act came into being in 2019.

Senator Jika noted that the total revenue roll-over from 2020 was N23,632,857,141.30.

The lawmaker explained that the sum of N988,279,006.05 is for Personnel Cost while N10,027,610,310.25 is for Overheads Expenditure adding that the total sum of N11,015,889,316.30 will be used for Recurrent while N63,757,712,600.00 will be expended on Capital Expenditure.

During the analysis of the fund, 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.

Abisola Adebayo is a Reporter/Presenter/Social Media Manager for Tv360Nigeria. She is a first class graduate of the department of Mass Communication at Fountain University, Osogbo. Abisola is currently running her Masters Degree at the University of Lagos. The Social Media savvy young lady is ambitious and driven, likes trying new things and sets new goals for herself. Always looking for an opportunity to do better and achieve greatness.

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