Senate Approved N74.78bn for Police Trust endowment

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The Senate on Wednesday endorsed the sum of N74,773,601,916.30 as 2021 budget of the Nigeria Police Trust endowment.

The approval followed the presentation of the harmonised report of the Senate and House of Representatives Committees on Police Affairs on the floor at plenary.

Chairman Senate Committee on Police Affairs, Senator Haliru Dauda Jika, presented the report.

Of the amount, N988,279,006.05 was earmarked for personnel cost, N10,027,610,310.25 for overhead expenditure and N63,757,712,600.00 as capital expenditure.

Senator Jika (Bauchi Central), in his presentation, observed that the 2021 NPTF budget is the second since the establishment Act came into being in 2019.

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He disclosed that the total revenue roll-over from 2020 was N23,632,857,141.30.

He explained that the 2021 accrued revenue are as follows: 0.5 per cent of the total revenue accrued to the Federation Accounts Revenue at N41,867,680,099.00; 0.05 per cent of total Value Added Tax (VAT) at N8,824,064,676.00; 0.05 per cent of the Net Profit of Companies in Nigeria at N300,000,000; and Aids, Grants, and Donations at N150,000,000.

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