The Senate on Wednesday passed the N65,905,252,467 budget of the Nigeria Police Trust Fund (NPFTF) for the year 2022.
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.
The Senate passed the Police Trust Fund budget after it considered and adopted the harmonised report of its Committee on Police Affairs and that of the House of Representatives.
Presenting the report, the 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.
He said 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.
