Revealed: The Salaries of Senators in Nigeria

Politics is described as a do-or-die affair in Nigeria. Most politicians kill, cheat, rig and fight their way at all cost to win a political office. Apart from the public knowledge that the average politician is corrupt and would embezzle public funds when he gets there, new findings by BusinessCabal.com revealsthat the senators in Nigeria are the highest paid and this could have contributed as to why a politician would do all manner of dirty things to get there. 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

Meanwhile,

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.

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