Politics
JUST IN: Senate okays N74.78bn for Police Trust Fund
The Nigerian Senate has granted the approval of the sum of N74,773,601,916.30 for the Nigeria Police Trust Fund budget for the year 2021.
The police trust fund budget was approved on Wednesday after the presentation of the harmonised report of the Senate and the House of Representatives Committees on Police Affairs at plenary.
According to a statement signed by the Special Assistant (Press) to the President of the Senate, Ezrel Tabiowo, on Wednesday, June 30, the report was presented before the house by the Chairman Senate Committee on Police Affairs, Senator Haliru Dauda Jika.
Jika who is a representative of the All Progressives Congress for Bauchi Central Senatorial District 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.
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