The remuneration of the members of Nigeria’s legislative arm of Government is one of the most discussed topics in the country. It is believed in most parts of Nigeria that the jumbo pay is one of the main attractions of political office as opposed to the willingness to serve in other places. It is also believed in some quarters that the financial gains of political office is the main reason for which many politicians will do anything to perpetuate themselves in office, even if it would cost some people their lives. Below is a breakdown of what each of the 109 Senators take home:
What a Senator earns in Nigeria = N29, 479,749. 00 Per Quarter (4 times a Year).
Basic Salary: N2, 484, 245.50.
Hardship Allowance @ 50% of Basic Salary N1, 242,122.70
Constituency allowance @ 200% of BS N4, 968,509.00
Furniture Allowance @ 300% of BS N7, 452,736.50
Newspaper allowance @ 50% N1, 242,122.70
Wardrobe allowance @ 25% N621, 061.37
Recess Allowance @ 10%: N248, 424.55
Accommodation allowance @ 200% N4, 968,509.00.
Utilities allowance @ 30% N828, 081.83.
Domestic Staff allowance @ 35% N863, 184.12.
Entertainment allowance @ 30% N828, 081.83.
Personal Assistance allowance @ 25% N621, 061.37.
Vehicle Maintenance Allowance @ 75% N1, 863,184.12.
Leave Allowance @10% N248, 424.55.
One off payments (As advised by Sagamite
Severance Gratuity) @ 300% N7, 452,736.50 (Once they get fired.)
Motor Vehicle Allowance @ 400% of BS N9, 936,982.00 –
Every Four Years Senators Salary per month: N2, 456,647.70
Total = N29, 479, 749.00 * 109 Senators Grand Total = N 3,264,329,264. 10
The Salary of the President of the United States has however been put at $400,000/yr while the GDP U.S. Economy: $13Trillion/ yr.
The allowance of each Nigerian Senator amounts to $1,500,000/yr which is even far more than what accrues to the American President.
The GDP of the country on the other hand amounts to $45 Billion/yr.
This has been described as nothing but a feeding frenzy and an open looting of Nigeria because it is happening in a country where Doctors, teachers, civil servants cannot boast of N1m a year.