Monthly Salary Of Our Nigerian Senators

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A Nigerian senator earns more in Salary than Barack Obama of the US and David Cameron of the UK. I’ll leave you to tell how much Nigerian president goes home with at the end of each month. An Indian lawmaker must work for at least 49 years to earn the annual salary of a Nigerian senator.

In the United States, while the minimum wage is $1,257 (N191, 667), a US lawmaker earns $15,080 (N2.3m) per month. In the United Kingdom, a lawmaker earns $8,686 (N1.3m) monthly while the gross national minimum wage is $1,883 (N283, 333) per month. Also, Nigerian lawmakers earn higher than their counterparts in Sweden. With a monthly pay of $7,707 (N1.2m), a lawmaker in Sweden will need to work for over 12 years to equal what a Nigerian senator earn per annum.

The president of the United States takes home an anual salary of $400,000 (N64.156,0m), including a $50,000 expense allowance making the president the highest paid public servant in the US. The $400,000 includes everything and $350,000 out of it is taxable.

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 – $138,000.00In 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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