05/05/2024
*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
