The House of Representatives has approved the sum of N74.773 billion for the Nigerian Police Trust Fund (NPTF) in the 2021 budget.
This was sequel to the adoption of the report presented to the House by the Chairman, House Committee on Police Affairs, Usman Bello Kumo (APC, Gombe) on Wednesday.
The report reads: “That the House do consider the Report of the Committee on Police Affairs on the issue from the Statutory Budget of the Nigeria Police Trust Fund, the total sum of (N74,773,601,916.30) only.”
According to the approved budget, the sum of N988,279,006.05 is for Personnel Cost; N10,027,610,310.25 is for Overhead Expenditure while N63,757,712,600 is for Capital Expenditure.
The report indicated that the approved funds would be sourced from a Revenue Roll-over (2020) worth N23,631,857,141.30; 0.5% of the total revenue accrued worth N441,867,680,099 to the Federation Accounts.
Other sources include; 0.05%of total VAT worth N8,824,064,676; 0.05%of Net Profits of Companies in Nigeria worth N300,000,000 and Aids, Grants, Donations amounting to N150,000,000.