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How Will Nigeria Develop With The Level Of Her Financial Recklessness? - Politics - Nairaland

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How Will Nigeria Develop With The Level Of Her Financial Recklessness? by Shine1177: 1:37pm On Dec 31, 2012
I don't mean to attack GEJ because this did not start from him but how do you think Nigeria can deliver herself from this financial indiscipline. [b][/b]

Source: Jarikre OgheneMaro comment on http://www.vanguardngr.com/2012/12/breaking-news-20-feared-dead-as-gunmen-sacks-police-station-prison-in-adamawa/

What is expected from a country where government executives knows nothing other than appropriating bogus salaries to themselves. It only shows they have no interest for the security and welfare of Nigerians.

When the Senators and FEC Members have shared all revenue of the country nothing is surely left to invest in security and the welfare of Nigerians.

A nation where 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 annual salary of $400,000 (N64.1560m), 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.

Selected States (salary per annum)

The Prime Minister of the United Kingdom - - - - - - USD 226,627.00

French President - - - - - - - - - - - - USD 318,072.00

South African President - - - - - -- - - USD 296,112.00

German Chancelor - - - - - - - - - - - - USD 296,112.00

The Prime Minister of Belgium - - - - - - USD 174,804.00

President of the Republic of Korea - - - - USD 136,669.00

President of Russia - - - - - -- - - - - - USD 122,652.00

Prime Minister Portugal - - - - - - - - - -USD 129,730.00

Prime Minister Namibia - - - - - -- - - - USD 115,155.00

President of Angola - - - - - - - - - - - USD 60,000.00

President Argentina - - - - - - - - - - - USD 55,139.00

Prime Minister Ukraine - - - - - - - - - - USD 61,254.00

President Zimbabwe - - - - - - - - - - - - USD 18,000.00

President of People’s republic of China - -USD 10,633.00

President Liberia - - - - - - - - - - - - USD 90,000.00

Prime Minister Spain - - - - - - - - - - - USD 102,960.00

Prime Minister Namibia - - - - - - - - - - USD 115,155.00

President Namibia - - - - - - - - - - - - USD 164,506.00

President of Colombia - - - - - - - - - - USD 120,685.00

Prime Minister of the Netherlands - - - - -USD 190,740.00

Prime Minister Ireland - - - - - - - - - - USD 264,000.00

Prime Minister Denmark - - - - - -- - - - -USD 264,533.00

President Mexico - - - - - - - - - - - - USD 328,839.00

President Austria - - - - - - - - - - - - USD 422,231.00

President of the European Council - - - - -USD 508,916.00

NIGERIAN SENATORS

Basic Salary (BS) = N2,484,245.50

× Hardship Allowance: 50% of Basic Salary = N1,242,122.75

× Constituency allowance: 200% of BS = N4,968,509.00

× Furniture Allowance: 300% of BS = N7,452,736.50

× Newspaper allowance: 50% = N1,242,122.70

× Wardrobe allowance: 25% = N621,061.37

× Recess Allowance: 10% = N248,424.55

× Accommodation: 200% = N4,968,509.00

× Utilities: 30% = N828,081.83

× Domestic Staff: 35% = N863,184.12

× Entertainment: 30% = N828,081.83

× Personal Assistance: 25% = N621,061.37

× Vehicle Maintenance Allowance: 75% = N1,863,184.12

× Leave Allowance : 10% = N248,424.55

× One off payments Severance gratuity): 300% = N7,452,736.50

× Motor Vehicle Allowance: 400% of BS = N9,936,982.00

Total per month = N29,479, 749.00

A senator’s annual salary = over N182 million multiply by 109 senators (don’t forget the House of Reps, Ministers, Ambassadors, Senior Special Advisers, Special Advisers, Senior Personal Assistants, Personal Assistants etc.).

In addition to the regular and legitimate salaries and allowances of over N17 million ($113,333) and N14.99 million ($99,933), which Senators and Reps were collecting yearly and the irregular allowance of estacodes, duty tours etc, they were also collecting over N192m ($1.28m) and N140m ($0.93m) respectively in illicit quarterly allocation which is not provided for by RMAFC.

Effectively, a Nigerian senator is taking home at least $1.40m ($1.28m quarterly allocations + $0.113m regular salaries and allowances) as against the $0.174m an American senator takes home hence a Nigeria senator earns at least 8 times as much as an American senator and more than 3 times the American President.

All hopes are lost for a nation like Nigeria except God delivers us (HE will deliver us)from the hands of the wicked leaders we have in this country.

I don't mean to attack GEJ because this did not start from him but how do you think Nigeria can deliver herself from this financial indiscipline. [b][/b]
Re: How Will Nigeria Develop With The Level Of Her Financial Recklessness? by Shine1177: 1:49pm On Dec 31, 2012
We need sincere leaders in leadership in all arms of government to take a proactive action against this act of squaring our commonwealth for posterity sake and I am sure GEJ cannot do it but the Almighty will bring the right men/women soon I believe.

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