Connect with us
nairametrics

Business

FG to spend N447.6 billion on Police in 2021

N447.6 billion has been allocated to the Police, as disclosed by the government in the 2021 Appropriation Bill.

Published

on

The Federal Government is set to allocate the sum of N447.6 billion to the Ministry of Police Affairs in 2021, if approved by the National Assembly.

This was disclosed by the government in the 2021 Appropriation Bill presented to the lawmakers last week Thursday.

READ: Despite billions on agriculture, food inflation up by 108% since 2015

NPF’s allocation since 2018

The allocations of the government to the Nigeria Police Force have been on the increase in the last four years and the difference between the figures has been around N40 billion or more.

For instance, the 2021 proposed allocation increased to N447.6 billion from N403.45 billion allocated in 2020, which is about an 11% increase. That of 2020 also recorded an increase from N366.13 billion allocated to the force in 2019. This represents an increase of about 10%.

GTBank 728 x 90

The difference between 2019 and 2018 allocations was over N42 billion when it increased from N324.2 billion (N366.13 billion in 2019).

READ: Nigerian fintech companies raised $600 million in five years – McKinsey Report 

What you should know

The breakdown of the allocation to the police in the 2021 budget is

GTBank 728 x 90
  • N18.45 billion is for overhead expenses, N417.2 billion on personnel expenses, and N11.98 billion on capital expenses.
  • N14.23 million is for the construction of MOPOL and SARS headquarters in Okpoko Ayamelum, Anambra State.
  • N166.7 million is for Arms and Ammunition in 2021, at a time several Nigerians have called for an end to police brutality across the nation.
  • The Police also plans to purchase riot controlling equipment worth N57.87 million and 1000 pieces of bulletproof vests worth N67.6 million.
  • Procurement of educational materials and upgrade of training equipment worth N128.5 million across training institutions in the country.

READ: MTN, Airtel, Glo, other Telcos’ operating costs drop to N1.756 trillion in 2019

Should there be more protests, either by angry youths or other groups, it appears the police is prepared for 2021.

Backstory

The men of the force had lamented over what they described as underfunding of the Nigeria Police Force to the tune of about N1.1trillion between 2011 and 2015, which they argued weakened the capacity of the police to perform their duties and adequately improve the institution.

READ: Real estate: Experts lament over challenges in the industry

Former Inspector-General of Police, Mr. Solomon Arase, had argued that neither the funding of the capital projects of the police nor the overheads had risen beyond N11 billion between 2011 and 2015, compared to actual funding requirements of up to N71 billion for overheads and N345.7 billion for capital projects in the case of 2015 for example.

Jaiz bank ads

READ: Report identifies banks expected to raise equity after COVID-19 flattens

Fidelity ads

Abiola has spent about 14 years in journalism. His career has covered some top local print media like TELL Magazine, Broad Street Journal, The Point Newspaper. The Bloomberg MEI alumni has interviewed some of the most influential figures of the IMF, G-20 Summit, Pre-G20 Central Bank Governors and Finance Ministers, Critical Communication World Conference. The multiple award winner is variously trained in business and markets journalism at Lagos Business School, and Pan-Atlantic University. You may contact him via email - [email protected]

Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Business

At least 1,588 people were killed in Nigeria as at Q3 2020 – SBM Intelligence

At least 1,588 have been reportedly killed in Nigeria between July to September 2020.

Published

on

At least 1,588 have been reportedly killed in Nigeria between July to September 2020, according to findings by SBM Intelligence.

The findings also revealed that 137 security personnel have been hacked to death within the period under view.

According to the findings, the breakdown of people killed by geo-political zones includes; 638 in North-West, 544 in North-East, 194 in North Central, 93 in South-South, 70 in South-East and 49 in South-West.

Further breakdown revealed that the following people were killed;

  • 683 Civilians
  • 366 Bandits
  • 366 Boko-Haram members
  • 119 Army officers
  • 59 cultists
  • 11 armed robbers
  • 10 police officers
  • 8 kidnappers
  • 5 DSS officers
  • 3 NSCDC officers
  • 3 smugglers.

(READ MORE: FG earmarks over N190 billion for road construction in the 6 geo-political zones by 2021(Opens in a new browser tab)

GTBank 728 x 90

The percentage of people killed by geo-political zones is depicted below;

Source: Nairametrics from SBM Intelligence data

What this means

The data displayed is a major source of concern to security officials and Nigerians at large. The major highlight is the number of civilians killed, which is higher than the number recorded for armed bandits, terrorist and other crime-related offences.

This is alarming and puts the country in bad light, especially as there is a growing concern of human rights abuses, torture and extrajudicial killings in the country, as alleged by Amnesty International.

GTBank 728 x 90

The breakdown of people killed by states is also depicted below;

Source: Author’s computation from SBM Intelligence data

Continue Reading

Business

Remittances to sub-Saharan Africa totaled $48 billion in 2019

According to the World Bank, the remittances to sub-Saharan Africa totalled $48 billion last year.

Published

on

The New Normal - Digital Transfers and Remittance in Nigeria

There is a boom for Africa-focused money transfer companies, as diaspora wanted to help their families amid COVID 19 pandemic. According to the World Bank, the remittances to sub-Saharan Africa totalled $48 billion last year. This development is despite predictions from the World Bank of a historic 20% drop to $445 billion in remittances to poorer countries this year, as a result of a pandemic-induced global economic slump.

READ: World Bank announces $12 billion COVID-19 vaccine finance plan for poor countries

READ: World Bank predicts Nigeria’s impending recession will be worst in 40 years

Remittance companies got an additional boost early on in the pandemic, when African central banks reduced fees and loosened limits on digital transactions, to encourage the public to use digital services to facilitate social distancing.

According to Dare Okoudjou, Founder of MFS Africa, “I would probably agree with the World Bank that the total amount (of remittances) will go down, but anyone who’s in digital would actually gain market share and see their volume go up.”

GTBank 728 x 90

READ: Nigeria’s Asset to GDP Ratio Is low despite rise in Mutual Fund value

What you should know

Nairametric had earlier reported that PricewaterhouseCoopers, a global tax and consulting firm, estimated that migrant remittances to Nigeria could grow to US$34.8 billion by 2023.

The pandemic gave remittance companies an advantage over their main competition in Africa; the sprawling informal networks of traders, bus drivers, and travellers used by many migrants to send money home.

GTBank 728 x 90

READ: World Bank predicts rebound of Sub-Saharan Africa’s economy next year

  • Remittances to sub-Saharan Africa officially totaled $48 billion last year, according to the World Bank. Experts, however, said this figure only tells a part of the story, though much of the monies Africans ship home via informal networks is absent from official data.
  • Amongst the industry executives, the shift is likely to last as digital remittance services are typically cheaper, faster, and safer than informal networks, which are difficult for governments to regulate.
  • Online remittance company, WorldRemit, reported last week that transfers to Zimbabwe via its service had doubled over the past six months.
  • Azimo, a UK-headquartered remittance company, whose major African markets include Nigeria, Ghana, and Kenya, saw a nearly 200% increase over the expected number of new customers in April, May, and June.
  • According to Kenyan central bank data, remittances to Kenya were up 6.5%; though, August compared to the same period last year. Remittance inflows to Zimbabwe were up 33% through July.
  • Remittance companies got an additional boost early on in the pandemic when African central banks reduced fees and loosened limits on digital transactions, to encourage the public to use digital services to facilitate social distancing.
  • MFS Africa, which runs networks across 36 African countries to channel remittances between mobile money accounts, has seen year-on-year transaction growth of over 90% in 2020.
  • The company, which runs networks across 36 African countries to channel remittances between mobile money accounts, has seen year-on-year transaction growth of over 90% in 2020.
  • Mukuru based in South Africa, which focuses mainly on African remittances and allows customers to send both cash and groceries, has seen a roughly 75% acceleration in growth compared to last year.

 READ: World Bank ranks Nigeria among World’s most improved countries in “Doing Business” 

What they are saying

Having fled an economic implosion in his native Zimbabwe, Brighton Takawira was able to support his mother back home with modest earnings from a small perfume business he set up in South Africa.

Brighton Takawira uses the Mukuru remittance app which enables him to send money and groceries home to family in Zimbabwe from his home in Pinetown, South Africa. Then the pandemic struck and borders closed. The buses he had used to send his cash stopped running. According to him, “I had to send something, even a few dollars, though it meant sometimes going without bread

READ: World Bank predicts rebound of Sub-Saharan Africa’s economy next year

Jaiz bank ads

According to Patrick Roussel, Head of mobile financial services Africa at French telecom company, Orange, “We saw an increase of transfers as the diaspora wanted to help their families

Fidelity ads

READ: $70 billion per annum will be needed to tackle pandemic induced poverty – World Bank

Explore Data on the Nairametrics Research Website

According to Andy Jury, Chief Executive of Mukuru, South Africa, “We’ve seen an influx of new customers, and we see them mainly coming to us from the informal market.”

Continue Reading

Business

Inferno razes down SUBEB office in Ondo State

The SUBEB annex office in Akure, Ondo State has been razed down by a mysterious fire.

Published

on

Inferno raze down SUBEB office in Ondo state

The Ondo State Universal Basic Education Board (SUBEB) annex office in Oke Eda, Akure has been allegedly razed down by fire. The inferno affected the marketing office of the state government-owned television station, which also housed the building.

The cause of the inferno still remains unknown, as investigations are underway.

READ: UPDATE: Office of Nigeria’s Accountant General is reportedly engulfed in flames

What you should know

Recently there have been reported cases of arson, lootings, and killings perpetrated by hoodlums. It is yet to be known if this incident is related to the hijacked #EndSARS protests.

(READ MORE: BRT owners, Primero says they lost N100 million to #ENDSARS violence)

GTBank 728 x 90

What they are saying

Confirming the incident, an anonymous staff opined that the fire incident might have happened overnight. She also said that all buildings and files in the offices were affected by the fire.

“All the buildings, because it was made of wood, are gone. It was completely burnt.

“We can’t lay our hands on anything. Everything in the office is gone,” she said.

GTBank 728 x 90

Continue Reading
Advertisement
Advertisement
Advertisement
ikeja electric
Advertisement
Advertisement
Patricia
Advertisement
FCMB ads
Advertisement
IZIKJON
Advertisement
Fidelity ads
Advertisement
first bank
Advertisement
bitad
Advertisement
Stallion ads
Advertisement
financial calculator
Advertisement
deals book
Advertisement
app
Advertisement