President Goodluck Jonathan just informed us that there will be 25% cut in BASIC salary of all political office holders.
Fair enough. But Let’s analyze the entire package of a senator. Basic Salary (BS) – N2,484,245.50 million. Unfortunately there are other packages apart from basic salary which are left untouched…unchecked.
Here we go
Hardship Allowance N1,242,122.70 (I love this kind of hardship):/
Hardship Allowance N1,242,122.70 (I love this kind of hardship):/
Constituency allowance = N4,968,509.00 million
Furniture Allowance – N7,452,736.50
Newspaper allowance – N1,242,122.70 :s
Wardrobe allowance – N621,061.37:x
Recess Allowance – N248,424.55
Accommodation N4,968,509.00
Utilities N828,081.83:/
Domestic Staff N863,184.12X_X
Entertainment N828,081.83
Personal Assistance – N621,061.37
Vehicle Maintenance Allowance N1,863,184.12
Leave Allowance – N248,424.55
One off payments (Severance gratuity) – N7,452,736.50 (Once they get fired.)
Motor Vehicle Allowance N9,936,982.00 – Every Four Years
Total = N29,479,749.00 Per Year
Senator’s Salary per month – N2,456,647.70
The 25 % cut is on Basic Salary alone and not on the whole loot of 29. 5 million.
25% of basic salary is a little over N600k.
Therefore they will forfeit 600k out 29. 5 Million? :&
If the president wants to reduce the cost of governance, we should overhaul the fiscal policy of government. Indeed, a good starting point would be to cut their allowances by 50% THEN we’ll know we’re in together.
Source: Proshare
