The Senate has approved N57,014,287,532.00 as the budget of the Nigeria Police Trust Fund for 2023.
It approved the budget during plenary in Abuja on Tuesday, presided over by the President of the Senate, Sen. Godswill Akpabio.
The Capital Expenditure component of the budget is N47,024,803,541.18. Total Recurrent Expenditure is N9,989,483,990.00.
The budget was approved after the consideration and adoption of the report of the Senate and House of Representatives joint Committees on Police Affairs.
The committees had earlier worked on the NPTF budget before the Senate passed the report on Tuesday.
The Chairman, Senate Committee on Police Affairs, Senator Ahmed Mallam-Madori, had presented the report to senators during plenary.
In the joint report, both the Senate and the House observed that the NPTF had received four budgets since 2019.
It noted, “That the NPTF is currently carrying on with the implementation of its 2022 approved budget.
“That the 2023 accrued revenue of the NPTF is as follows: 0.5% of total revenue accrued to the Federation Accounts amounting to N56,205,355,774.00
“0.05% of the net profit of companies in Nigeria is N308,931,758,00; aid, grants, and donations generated the sum of N500,000,000.00.”
Senators approved the budget in a unanimous resolution.
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