N66B 2022 Police Trust Fund budget sails through in Senate

The Senate has passed the N65,905,252,467 budget of the Nigeria Police Trust Fund, NPFTF, for the 2022 fiscal year.

The amount is made up of personnel expenditure of N948,810,609.29, total overhead costs; N8,857,106,527.44 and total capital expenditure of N56,099,335,330.35.

Passage of the budget on Wednesday followed the consideration and adoption of the harmonised report of the Senate Committee on Police Affairs and that of the House of Representatives.

Presenting the report, chairman of the Senate Committee on Police Affairs, Senator Halliru Dauda Jika identified the revenue sources for the proposed budget as; 0.5% of the total revenue accrued to the federation account that amounts to N52,569,086,241.00; 0.5% of total VAT at N11,720,616,226.00; 0.05% of Net Profit of Companies in Nigeria – N1,145,300,000.00 and aids, grants donations etc at N470,250,000.

Explaining the reason why the Fund was not able to implement its 2021 budget, Jika attributed it to a court case filed by the River State government challenging the legality of deducting its money to finance the Fund.

He said it was based on that litigation that a directive was issued that all the monies accrued to the Fund be kept in an escrow account at the CBN pending the resolution of the matter.

According to him, the Attorney General of the Federation and Minister of Justice had waded into the matter by advising that henceforth, only the share of the Rivers state should be domiciled in the escrow account, while other deductions be remitted to the Fund since it is the only state that filed the suit.

N66B 2022 Police Trust Fund budget sails through in Senate