Another fresh episode of Monday musing

Our Economy Can't Take Care Of Senators Any Longer...

OUR ECONOMY CAN’T TAKE CARE OF SENATORS ANY LONGER.. Senator’s Pay World Wide:

* Sri Lanka – $5,100.00
* India – $11,200.00
* Malaysia – $25,300.00
* Thailand – $43,800.00
* Spain – $43,900.00
* Ghana – $46,500.00
* Saudi Arabia – $64,000.00
* Indonesia – $65,800.00
* Kenya – $74,500.00
* France – $85,900.00
* Sweden – $99 300.00
* South Africa – $104,000.00
* Britain – $105,400.00
* New Zealand – $112,500.00
* Israel – $114,800.00
* Germany – $119,500.00
* Ireland – $120,400.00
* Hong Kong – $130,700.00
* Japan – $149,700.00
* Canada – $154 000.00
* Singapore – $154,000.00
* Brazil – $157,600.00
* United States – $174,000.00
* Italy – $182,000.00
* Nigeria – $2,183,685.00

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

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 Remember, yearly Salary of Nigerian Senator = N353,756,988.00 Proportion: N353,756,988.00/N216,000.00 = 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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Our Economy Can't Take Care Of Senators Any Longer...

Wole Oduwole

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Our Economy Can't Take Care Of Senators Any Longer...
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Another fresh episode of Monday musingOUR ECONOMY CAN'T TAKE CARE OF SENATORS ANY LONGER.. Senator's Pay World Wide:* Sri Lanka – $5,100.00 * India – $11,200.00 * Malaysia – $25,300.00 * Thailand – $43,800.00 * Spain – $43,900.00 * Ghana – $46,500.00 * Saudi Arabia – $64,000.00 * Indonesia – $65,800.00 * Kenya – $74,500.00 * France –...
Our Economy Can't Take Care Of Senators Any Longer...