After reading through this Special Report, any shred of doubt in the readers 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
Posted on: Sun, 07 Dec 2014 13:48:32 +0000
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