We now know why the Central Bank of Nigeria cried out: each senator of the Federal Republic of Nigeria earns N15.18m in salaries and allowances monthly, just as each member of the House of Representatives takes home N10.59m a month. For the Senate, each senator (excluding the Senate President and his deputy) takes home about N198.54m annually (N16.64m per month). This translates into a total of N21.243bn. The figure, staggering as it is, still excludes the lawmakers‘ constituency votes, which are not paid directly to them.
To keep the federal lawmakers in office for one year, the Federal Government spends a staggering N67.32bn on their salaries and other allowances. There are 469 federal lawmakers, comprising 109 senators and 360 members of the House of Representatives.
Cross-section of workers during a protest rally on the Murtala Muhammed Way in Yaba, Lagos. Read More
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