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 workers 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