Today, we will be looking at How Much is Senators Salary in Nigeria and why the Nigerian senators are some of the most paid lawmakers in the world.
Would you like to know how much these government officials earn as salary?
Provided that that’s why you stumbled on this page, then.
This article will give you updated information on the amount Nigerian senators earn as a salary on monthly basis.
After seeing these outrageous amounts, we will shed light on the benefits accrued to every senator of the Federal Republic of Nigeria.
Before looking at how many Nigerian senators earn.
Let’s first take a peek at who these government officials are.
Senators are members of the Nigeria Senate which is the upper chamber of the Nigerian federal legislature.
These officers are paid wages and monthly salaries just like other government officials.
However, they are pretty much compensated.
The truth about the salary and benefits of Nigerian senators is that they are on the high side.
The amount they receive is very good and you would be stunned at the figures these officials earn.
In the course of this write-up, we will focus on how much a Nigerian senator earns.
With the figures being stated, you will see how they are mostly paid.
Continue reading this article as we uncover more on the full amount these legislators earn every month end.
Check Out: Highest Paid Bachelor Degree Jobs in 2022
What is the Average Salary of a Senator in Nigeria?
There have been a lot of queries posed by people regarding the salary of senators in Nigeria.
This has led to several discussions over their month-to-month payments.
Though information on the exact salary that is paid to these representatives isn’t clearly stated by any government medium.
However with our new findings after looking through some reliable sources, we have put that out below the average salary a Nigerian senator earns.
Since Nigerian senators have been attributed as earning much.
The following information will help everyone to know what these government officials’ salary looks like.
Senators are the most paid in the Nigerian legislative chambers.
This isn’t news as most people now realize how much these upper-house members are paid as salary.
The sum paid to every one of these senators as salary every month is going on an average of ₦750,000.
This is of the current year and will likely be up in subsequent years.
Also, this figure does exclude other bonuses and stipends or benefits given to a Nigerian senator, yet their net salary.
Any added up benefits, and bonuses amount to ₦13,500,000 which is paid to a senator of the Federal Republic of Nigeria.
Contrasting this figure with what is obtained in other countries in Africa.
Nigerian senators are the most highly paid legislators in the continent and third in the world.
Monetary Benefits/Allowances of a Nigerian Senator
Each current senator in the country is given weekly and monthly payments in the form of allowances.
This is meant for their upkeep and maintenance.
Below is the view of the allowances and benefits given to a Nigerian senator:
- Travel and transport allowance which includes local and international travel and transport.
- Utility allowance for electricity charges, telephone charges, internet access charges, water rates, etc.
- There is also the materials and supplies allowance for office stationeries/computer consumables, books, newspapers, magazines, and periodicals, the printing of non-security documents.
- Maintenance services allowance (maintenance of motor vehicle/transport equipment, office furniture, IT equipment)
- Senators in Nigeria are also given training allowance for both local and international training.
- There is also the Health allowance in the form of remedies and medical supplies allowance
- Insurance allowance is as well paid to senators in the country.
- That’s the view of the allowances earned by Nigerian senators.
An estimated sum of these allowances will see a Nigerian senator having more than 14 million Naira as an allowance every month.
This will sum up to ₦170,400,000 every year.
On the off chance that we look at the measure of cash for each of the 109 legislators together each year.
It would run into billions or trillions.
Salary Structure of Senators in Nigeria
Let’s look at the salary structure of members of the Nigerian upper legislative house.
This will show the exact figures they make.
1. Basic Salary – ₦2,026,400,00
Excluding bonuses and allowances, a Nigerian Senator earns a basic salary of ₦2,026,400,00 yearly.
On the other side, a Nigerian House of Representatives member’s yearly basic salary is about ₦,985,212,50.
This is exclusive of the allowances below.
2. Allowances – ₦12,902,360.00
A single Nigerian Senator earns around ₦12,902,360.00 annually as allowance.
The House of Representatives member earns ₦9,525,985.50 as yearly allowance.
The allowances are on:
- Vehicle fueling/maintenance
- Domestic Staff
- Personal Assistant
- Houses Maintenance
- Estacode, and Duty Tour.
There is another special amount in every four-year period which covers Accommodation, vehicle loan, furniture, and severance allowance.
All of these are put together to make each Senator earn ₦24,090,000.00 and a House of Representatives member with ₦23,822,00.00 inside a similar period.
What is the Take Home Pay of Senators in Nigeria?
Take-home pay implies only the basic salary which excludes others like bonuses and allowances.
A Nigerian Senator brings home ₦2,026,400.00 as salary on yearly basis.
The addition of other stipends he takes home makes the basic salary look smaller.
A Nigerian senator takes home about ₦9,525,985.50 as salary allowance on a yearly premise.
In case this is added to his or her salary, the senator will earn a sum of ₦12, 902,360.00 on yearly basis.
This implies the 109 representatives in Nigeria acquire an absolute amount of ₦1, 406,357,240.00 for their four years term.
This is a third of what a member of the House of Representatives earns within the same period.
Conclusion on How Much is Senators Salary in Nigeria
That’s the view of the amount Nigerian senators earn as salary.
Note that the figures recorded here are from reliable sources.
After we have gathered details from the National Institute of Legislative Studies released for public consumption.
We were able to have a picture of what’s the amount these legislators earn.
On the whole, this article showed how much all the 109 Nigerian upper house legislator earns individually.