05/06/2024
NIGERIAN ECONOMY CAN'T TAKE CARE OF SENATORS AND THE EXPENSIVE PRESIDENTIAL SYSTEM OF GOVERNMENT
ANY
LONGER.
Senators' Annual Pay World Wide:
1.Sri Lanka:
$5,100.00.
2.Malaysia:
$25,300.00.
3.Spain:
$43,900.00.
4.Ghana:
$46,500.00.
5.Saudi Arabia:
$64,000.00.
6.France:
$85,900.00.
7.South Africa:
$104,000.00.
8.Britain:
$105,400.00.
9.Germany:
$119,500.00.
10.Canada:
$154 000.00.
11.United States:
$174,000.00.
12.Nigeria:
$2,183,685.00.
Details of the remuneration of an
average Nigerian Senator is stated 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.
Average Salary of Nigerian worker as recommended as National
Minimum Wage is N48,000.00.
So,the yearly salary is
N48,000.00 x 12 = N576,000.00.
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/ N576,000.00 = 614.2
It will take an average Nigerian worker 614 years to earn the
Yearly Salary of a Nigerian Senator.
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FORWARDED AS RECEIVED.
