Reps Seeks Creation Of Special Fund For Security Agencies
By Juliet Vincent
The House of Representatives on Tuesday said that the proposal for the establishment of a National Security and Intelligence Trust Fund will mark a significant step towards addressing Nigeria’s security challenges
He also said that the bill aims to provide alternative funding for the country’s intelligence agencies, reducing their dependence on budgetary allocations.
Speaking during the public hearing on the bill in Abuja, the sponsor of the bill, Ahmad Sotomi said that the current funding system is inadequate, citing the example of California University’s $100 billion budget, with 30% allocated to research and development, adding that Nigeria’s security budget is significantly lower, despite the country’s larger population.
He further explained that the proposed trust fund will be financed through various channels, including: 1% of the consolidated revenue from the federation accounts, donations and gifts (although some stakeholders have suggested removing this option to prevent potential corruption), Airspace money generated from Nigeria’s airspace, unclaimed funds (although this option is still being debated due to constitutional constraints).
“The bill’s proponents argue that alternative funding is essential to address the country’s security challenges, which cannot be solved solely through kinetic operations. They emphasize the need for a more holistic approach, incorporating intelligence gathering, training, and capacity building.
“To address concerns about corruption and mismanagement, the bill proposes a board comprising representatives from various security agencies, paramilitary organizations, and civil society groups. The board will oversee the management of the trust fund, ensuring transparency and accountability.
He further maintained that alternative funding is crucial to addressing Nigeria’s security challenges. With 90% of submissions received during the public hearing supporting the bill, it is clear that there is a strong desire for change.
