SPECIAL REPORT: SALARY OF NIGERIAN SENATORS
After reading through this Special Report, any shred of doubt in the reader's mind that Nigeria is doomed and heading for a headlong, downward Plummeting will simply dissipate. The details of the remuneration of an average Nigerian Senator is detailed below:
Basic Salary (B.S) - N2 484 245.50
Hardship Allowance (50 per cent of B.S) - N1 242 122.70
Constituency Allowance (200 per cent of B.S) - N4 968 509.00
Newspapers Allowance (50 per cent of B.S) - N1 242 122.70
Wardrobe Allowance (25 per cent of B.S) - N621 061.37
Recess Allowance (10 per cent of B.S) - N 248 424.55
Accommodation (200 per cent of B.S) - N4 968 509.00
Utilities (30 per cent of B.S) - N828 081.83
Domestic Staff (70 per cent of B.S) - N1 863 184.12
Entertainment (30 per cent of B.S) - N828 081.83
Personal Assistants (25 per cent of B.S) - N621 061.12
Vehicle Maintenance Allowance (75 per cent of B.S) - N1 863 184.12
Leave Allowance (10 per cent of B.S) - N248 424.55
Severance Gratuity (300 per cent of B.S) - N7 452 736.50
Car Allowance (400 per cent of B.S) - N 9 936 982.00
TOTAL MONTHLY SALARY = N29 479 749.00 ($181 974.00)
TOTAL YEARLY SALARY = N29 479 749.00 x 12
= N353 756 988.00 ($2 183 685.00)
EXCHANGE RATE: $1 = N162
LEGISLATORS PAY WORLDWIDE PER ANNUM
Britain - $105 400.00
United States - $174 000.00
France - $85 900.00
South Africa - $104 000.00
Kenya - $74 500.00
Saudi Arabia - $64 000.00
Brazil - $157 600.00
Ghana - $46 500.00
Indonesia - $65 800.00
Thailand - $43 800.00
India - $11 200.00
Italy - $182 000.00
Bangladesh - $4,000.00
Israel - $114 800.00
Hong Kong - $130 700.00
Japan - $149 700.00
Singapore - $154 000.00
Canada - $154 000.00
New Zealand - $112 500.00
Germany - $119 500.00
Ireland - $120 400.00
Pakistan - $3 500.00
Malaysia - $25 300.00
Sweden - $99 300.00
Sri Lanka - $5 100.00
Spain - $43 900.00
Norway - $138 000.00
In terms of lawmakers’ salaries as a ratio of GDP per capita, the gap is even much wider. While the salary of a Nigerian lawmaker is 116 times the country’s GDP per person, that of a British member of parliament is just 2.7 times.
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 ($1 333.00)
Remember, Yearly Salary of Nigerian Senator = $2, 183, 685.00
Proportion: $2 183 685.00/$1 333.00 = 1 638
It will take an average Nigerian worker 1,638 years to earn the yearly salary of a Nigerian Senator."
Source: The Economist
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