Senate President Godswill Akpabio unveiled plans Thursday to deduct between 0.5% and 1% from oil revenue. The funds would go directly into a Police Trust Fund, he explained.
Akpabio made the announcement after leading senior lawmakers to pay Sallah homage to President Bola Tinubu in Lagos. The visit was a courtesy call at the president's residence.
According to him, money from the trust fund will purchase police equipment and build infrastructure. States will contribute additional funds to support the initiative, he added.
The Senate is actively exploring funding mechanisms for the force. "We are actually looking at from 0.5% to 1% of revenue from the production account going into the police trust fund," Akpabio told reporters.
He assessed Tinubu's economic record since taking office in 2023. Akpabio credited the president's reforms with steering Nigeria toward growth.
Nigeria inherited serious fiscal problems, the Senate President noted. "We were expending money and printing money without earning income," he said.
Tinubu has reversed multiple economic distortions, Akpabio argued. Multiple exchange rates have been unified under the president's watch.
The government eliminated fake fuel subsidies that drained resources. Long queues at petrol stations have disappeared, he observed.
On security, Akpabio expressed optimism about working with Tinubu. He believes the National Assembly can craft workable solutions collaboratively.
State policing is under serious consideration, according to the Senate chief. A national state police commission could oversee training, promotions and conduct standards.
Citizens must remain vigilant about security threats in their communities. Akpabio urged people to identify and report suspicious elements around them.
The president and security agencies are committed to improvement. Success requires collective effort from all stakeholders, he stressed.
Infrastructure development is already underway across the country. Akpabio highlighted ongoing coastal road projects as evidence of progress.
Crude oil production needs urgent scaling up, he insisted. Nigeria recently started selling crude in Naira, which boosts forex reserves.
Dangote refinery is performing well and consuming significant volumes. Increased production will generate more export earnings for other sectors.
Foreign direct investment remains crucial for economic diversification. Agriculture needs capital injection from both domestic and international sources.
The Lagos-Badagry-Sokoto highway project encompasses approximately 74 dams. These structures will revolutionize agricultural output nationwide, Akpabio stated.
He expressed confidence in divine assistance for Nigeria's progress. Both leadership and citizens must work together for better days ahead.
