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% 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 ($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