Senate Approves N124.29 Billion 2024 Budget for Nigeria Police Trust Fund

The Nigerian Senate has approved the 2024 budget of the Nigeria Police Trust Fund (NPTF), totaling N124.29 billion.

The approval follows the presentation of the report by Senator Yunus Akintunde the Vice Chairman
Senate Committee on Police Affairs.

The lawmaker noted that the budget is designed to boost the operational capacity and infrastructure of the Nigeria Police Force (NPF), aligning with the nation’s broader security objectives.

A break down of the budget shows

Capital Expenditure – N98.64 billion

•   NPTF Headquarters: N28.03 billion

•   Nigeria Police Force: N70.61 billion

Recurrent Expenditure – N25.65 billion

•   Personnel Costs (NPTF): N1.21 billion

•   Overhead Costs (NPTF): N8.05 billion

•   Overhead (NPF): N16.59 billion

The total sum of N124.29 billion revenue is expected to come from

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•   0.5% of total revenue accrued to the Federation Account – N104.01 billion

•   0.5% of total VAT – N18.90 billion

•   0.05% of net profits of Nigerian companies – N500 million

•   Aids, grants, and donations – N875.56 million

Senator yunus stated that the budget would support the training and retraining of police personnel, the construction and rehabilitation of barracks, police stations, and clinics, as well as the procurement of Compressed Natural Gas (CNG) vehicles and infrastructure to modernize police operations.

He noted that while the NPTF is currently implementing its 2023 budget, swift rollout of the 2024 fiscal plan is necessary to confront Nigeria’s urgent security challenges.