The budget of the Nigeria Police Trust Fund for the 2021 fiscal year has been approved by the Senate on Wednesday.
The total sum of N74,773,601,916 billion was passed after the presentation of the report of the Joint Committee of the Senate and House of Representatives on Police Affairs by the chairman of the Senate Committee on Police Affairs, Dauda Halliru Jika.
The approval by the Senate, according to reports, was the second since the Act that established the Fund was floated in 2019.
While making his presentation, Senator Jika stated that the total revenue roll-over from 2020 was N23,632,857,141.30 while giving the breakdown as N988,279,006.05, N10,027,610,310.25 and N11,015,889,316.30 as Personnel Cost, Overheads and Recurrent Expenditures, respectively.
The sum of N63,757,712,600.00 was further earmarked for Capital Expenditure.
The Senator representing Bauchi central gave the 2021 accrued revenue 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.
