Nigerian Senate and House of Reps Members Annual Earnings

The National Institute of Legislative Studies released a document revealing the earnings of the members of the National Assembly.

According to the documents released on Friday, Nigerian Senators and members of the Federal House of Representatives are amongst the best paid in the world.

The Senators gets an annual basic salary of N2,026,400,00 while House of Representatives members earn N1,985,212, 50 per year.

Nigerian Senate and House of Reps Members Annual Earnings cost the Nigerian people N1, 406,357,240 as basic salary on 109 Senators and N3,428,994,780 on 360 members of the House of Representatives.

Apart from the basic pay, these lawmakers rake in a lot more through the payment of mouth watering allowances.

A Senators’ allowances increases their total yearly pay to N12, 902, 360.00 while their colleagues in the lower chamber rake in a total of N9,525,985.50 annually.

According to the documents released by NILS, the allowances are to be spent on: Vehicle fuelling/maintenance, Constituency, Domestic Staff, Personal Assistant, Entertainment, Recess, Utilities, Newspaper/Periodicals, Houses Maintenance, Wardrobe, Estacode, Duty Tour, which attract more money available to the lawmakers than their basic salaries.

Apart from the basic salary and extra allowances, the lawmakers earn a special amount that is paid to them once in 4 years… More like a sign on fee if you are a fan of the beatiful leather game, you would understand better.

This special amount is meant to cater for accommodation, vehicle loan, furniture, and severance allowance,.

While Senators are paid N24,090,000, House of Representatives members earn N23,822,00.00 within the same period.

Consequently, the Federal Government spends N2,625, 810,000 on accommodation, vehicle loans, furniture and severance gratuity on 109 senators and N8,575,920,000.00 on the 360 House of Representatives members.