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 ALLOWANCES!!!!!!!!!! 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) :- N 248,424.55 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) - N828081.83 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 :- $149700.00 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: $2183,685.00/$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: Sat, 20 Dec 2014 19:11:50 +0000
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