The Senate has approved the 2021 budget for the Nigeria Police Trust Fund.
The approval of the sum of N74,773,601,916 billion followed the consideration of a report by the Joint Committee of the Senate and House of Representatives on Police Affairs during plenary on Wednesday.
In his presentation, Chairman of the Senate Committee on Police Affairs, Dauda Halliru Jika (APC, Bauchi Central), said that the 2021 NPTF budget is the second since the establishment Act came into being in 2019.
In a breakdown of the budget, the lawmaker observed that 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 said 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.
