The Nigeria Senate ratified the 2023 Budget for the Nigeria Police Trust Fund (NPTF) on Tuesday, allocating N57 billion. This budget designates N47.02 billion for capital expenditure and N9.98 billion for recurrent expenses.
The approval stemmed from the Senate and House of Representatives’ joint committee’s scrutiny and adoption of the NPTF’s 2023 budget proposal. Ahmed Madori, Chairman of the Senate Committee on Police Affairs, presented the report during the plenary session.
The joint committee highlighted that this marks the fourth budget cycle for the NPTF since its establishment in 2019. Additionally, it emphasized the current implementation of the 2022 approved budget.
The NPTF’s 2023 projected revenue sources comprise 0.5% of the total Federation Accounts revenue, totaling N56.2 billion, alongside N308.9 million from 0.05% of companies’ net profits in Nigeria, and N500 million from Aids, Grants, and Donations.
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