• July 15, 2024

Reps Approve N706.434 Billion for Police Trust Fund, N57 Billion For Customs Service

 Reps Approve N706.434 Billion for Police Trust Fund, N57 Billion For Customs Service

By Ikugbadi Oluwasegun

Nigerian House of Representatives has given its approval for the budget sums of N706.434 billion and N57 billion to the Nigerian Customs Service and Nigeria Police Trust Fund (NPTF), respectively.

Following the thorough deliberation and acceptance of the reports submitted by the House Committees on Customs and Excise and Police Affairs during the plenary session on Wednesday, the approvals were granted.

The budget allocated to the Nigerian Customs Service for the year ending 31st December, 2024, is N706.434 billion. Out of this amount, N225.993 billion is designated for Personnel Cost, N111.765 billion is allocated to Overhead Costs, and a sum of N368.675 billion is earmarked for Capital Expenditure.

In the context of the Nigeria Police Trust Fund, a total amount of N57.014 billion has been allocated. Among this amount, N937.993 million is intended for Personnel Expenditure, N9.051 billion has been allocated for Overhead Expenditure, and N9.989 billion is directed towards Recurrent Expenditure. Additionally, a sum of N47.024 billion is designated for Capital Expenditure, covering the period ending on December 31, 2023.

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