Senate Passes N57 billion Police Trust Fund Budget

The Senate on Tuesday passed the sum of N57 billion as the budget of the Nigeria Police Trust Fund (NPTF) for the 2023 fiscal year.

The lawmakers passed the NPTF budget after considering the report of the joint Senate and House of Representatives Committees on Police Affairs on the budget.

The Chairman of the Senate Committee on Police Affairs, Ahmed Mallam-Madori, (Jigawa North-east), presented the report during plenary.

Mr Mallam-Madori, a former minister of state for power and steel development, said the committee recommended N47 billion for capital expenditure and N9 billion for recurrent expenditure.

Mr Mallam-Madori said the committee observed that the budget is the Fund’s fourth since its inception in 2019.

The committee also observed that NPTF is currently carrying on with the implementation of its 2022 approved budget.

He said the 2023 accrued revenue of the NPTF is 0.5 per cent of the total revenue accrued to the Federation Accounts amounting to N56.20 billion while 0.05 per cent of the net profit of companies in Nigeria is N308.93 billion.

He said Aids, Grants and Donations generated stood at N500 billion.

The lawmakers adopted and passed the report, including the draft budget, through voice vote without subjecting it to debate.