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FG proposes 0.5–1% oil revenue allocation to Police Trust Fund, says Akpabio
Photo: Businessday NG
2026-05-29 05:30   Politics   10

FG proposes 0.5–1% oil revenue allocation to Police Trust Fund, says Akpabio

The President of the Nigerian Senate, Godswill Akpabio, has disclosed that the Federal Government is considering a policy to strengthen the Nigeria Police Force by allocating between 0.5% and 1% of revenue from oil production into the Police Trust Fund.He made this known after leading a delegation of Senate Principal Officers on a Sallah homage visit to President Bola Tinubu at his Lagos residence.

According to him, the National Assembly is actively reviewing ways to improve funding for the police in order to enhance professionalism, infrastructure, and equipment within the force.

Akpabio explained that the proposed funding framework would not only involve deductions from oil revenue but also additional contributions from state allocations.He emphasised that security remains a major concern that requires collective effort from both federal and state governments.

He also mentioned ongoing discussions around restructuring security architecture, including proposals for a more structured state policing system regulated by a national commission responsible for recruitment, training, promotion, and oversight.

While commenting on the broader economic situation, Akpabio noted that President Tinubu’s administration has undertaken key reforms aimed at stabilising the economy, such as unifying exchange rates and removing fuel subsidy distortions.He added that these reforms are intended to reposition Nigeria for growth and attract both foreign and domestic investment.

He also referenced infrastructure projects such as coastal roads and the Lagos–Badagry–Sokoto highway, along with the approval of 74 dams expected to support agricultural development.

Overall, the Senate President stressed that improving security, boosting oil production, and sustaining economic reforms are central to Nigeria’s long-term development goals.

Full reading at Businessday NG

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