The House of Representatives says the establishment of a National Security and Intelligence Trust Fund will mark a significant step towards addressing Nigeria’s security challenges.
Its Committee on National Security and Intelligence made this known at a public hearing on a bill seeking to establish a trust fund for security agencies.
Budgetary allocations to Nigeria’s security agencies have been on the increase since the birth of Boko Haram and other criminal tendencies.
For instance, in the 2025 budget, security got the highest budgetary allocations with over N4 trillion.
Yet, security experts maintain the allocation remains grossly inadequate due largely to the capital intensive nature of hardware for the sector.
A bill now seeks to create a trust fund that will provide alternative source of funding for the nation’s security agencies.
The sponsor believes the current funding system is inadequate.
For the Reps Speaker, Victor Nwokolo, Nigeria’s security challenges require the needed funds to safeguard lives and properties of the citizens
All security chiefs, including the paramilitary and the Federal Inland Revenue Service, FIRS, pledge support for the bill; describing it as long overdue
At a news conference after the public hearing, the sponsor of the bill said the proposed trust fund will be financed through various channels, including: 1% of the consolidated revenue from the federation accounts, donations and gifts and airspace money generated from Nigeria’s airspace unclaimed funds
To address concerns regarding corruption and mismanagement, the bill proposes a board comprising representatives from various security agencies, paramilitary organisations and civil society groups. The board is poised to oversee the management of the trust fund, ensuring transparency and accountability.
