27/10/2020
NIGERIAN ECONOMY CAN'T TAKE CARE OF SENATORS AND THE EXPENSIVE PRESIDENTIAL SYSTEM OF GOVERNMENT
ANY
LONGER..
Senators Annual Pay World Wide:
* Sri Lanka – $5,100.00
* Malaysia – $25,300.00
* Spain – $43,900.00
* Ghana – $46,500.00
* Saudi Arabia – $64,000.00
* France – $85,900.00
* South Africa – $104,000.00
* Britain – $105,400.00
* Germany – $119,500.00
* Canada – $154 000.00
* United States – $174,000.00
*Nigeria - $2,183,685.00
The details of the remuneration of an
average Nigerian Senator is detailed below;
Monthly
* Basic Salary (B.S) – N2,484,245.50
* Hardship Allowance (50% of B.S) –
N1,242,122.70
* Constituency Allowance (200% of B.S) – N4,968,509.00
* Newspapers Allowance (50% of B.S) –
N1,242,122.70
* Wardrobe Allowance (25% of B.S) – N621,061.37
* Recess Allowance (10% of B.S) – N248,424.55
* Accommodation (200% of B.S) – N4,968,509.00
* Utilities (30% of B.S) – N828,081.83
* Domestic Staff (70% of B.S) – N1,863,184.12
* Entertainment (30% of B.S) – N828,081.83
* Personal Assistants (25% of B.S) – N621,061.12
* Vehicle Maintenance Allowance (75% of B.S) – N1,863,184.12
* Leave Allowance (10% of B.S) – N248,424.55
* Severance Gratuity (300% of B.S) –
N7,452,736.50
* Car Allowance (400% of B.S) – N9,936,982.00
* TOTAL MONTHLY SALARY = N29,479,749.00 ($181,974.00)
* TOTAL YEARLY SALARY = N29,479,749.00 x 12 =
N353,756,988.00
The average salary of Nigerian worker based on the national
minimum wage is N18,000.00. So, the yearly salary is
N18,000.00 x 12 = N216,000.00
Remember, yearly Salary of Nigerian Senator = N353,756,988.00
(three hundred fifty-three Million, seven hundred and fifty-six
thousand, nine hundred and eighty eight Naira.
Proportion: N353,756,988.00/N216,000.00 = 1,638
It will take an average Nigerian worker 1,638 years to earn the
yearly salary of a Nigerian Senator.
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