Findings have revealed that the salaries and allowances of the incoming lawmakers will cost the federal government about N49 billion.
The figure covers the salaries and allowances of state and federal lawmakers across the country.
The salaries and allowances are based on data collated from a document obtained from the website of the Revenue Mobilisation and Fiscal Allocation Commission (RMFAC).
While N32.60 billion will be spent at the national level, N16.32 billion will be spent at the state level.
A breakdown shows that the annual basic salary of the president of the aenate is N2.48 million each year (about N9.94 million in four years), while that of the deputy president is N2.31 million yearly (about N9.24 million in four years).
Out of 19 allowances assigned to the senate president and his deputy, only five allowances were assigned a specific figure.
The disclosed allowances include constituency allowance (250 percent of the basic annual salary), duty tour allowance (N50,000 per night), Estacode ($1,300 per night), Recess (10 percent of the basic annual salary) and severance gratuity (300 percent of the basic annual salary).
The allowance of the senate president will gulp about N33.29 million, which includes annual N6.21 million for constituency allowance, annual N248,424 for recess, and N7.45 milluon for severance gratuity, which is paid at the end of the tenure.
The allowance of the deputy senate president is expected to cost the federal government about N30.94 million, which includes an annual N5.77 milluon for constituency allowance, an annual N230,916 for recess, and N6.93 million for severance gratuity.
Other senators will get N2.03 million as basic annual salary (a total of N8.11 million in four years) and a total of N72.1 million each as allowances.
The salaries of the 107 senators will cost N867.3 milluon, while their allowances will cost N7.72 billion.
Meanwhile, the speaker of the house of representatives will get an annual salary of N2.48 milluon (about N9.91 million in four years), while the deputy gets N2.29 million (about N9.15 million in four years).
The allowance of the speaker is about N18.33 milluon which includes an annual N2.48 million for constituency allowance, an annual N247,711 for recess, and N7.43 milluon for severance gratuity.
The allowance of the deputy speaker was pegged at about N17.16 million and this includes annual N 2.29 million for constituency allowance, N288,703 for recess, and N6.86 million for severance gratuity.
Other members of the house of representatives will get N1.99 million as basic annual salary.
The salaries of the 358 house of representatives members will cost N2.84 billion, while their allowances are estimated at N21.04 billion after four years.
Also, the speaker of a state assembly will be paid N1.64 million (N6.56 million in four years) as an annual basic salary, while the deputy speaker will get N1.45 million (equivalent to N5.8 million in four years).
In total, the 36 speakers will get about N59.04 milluon as annual basic salary or N236.16 million in four years, while the deputies will get about N52.1 million as annual basic salary or N208.40 million in four years.
The allowance of the speaker will gulp about N5.58 million (N22.30 milluon in four years) which includes an annual N409,968 for constituency allowance, N163,987.50 for annual leave, and N3.28 milluon severance gratuity.
The allowance of the deputy speaker will be paid about N4.92 million (N19.67 million in four years), and this includes N361,495 constituency allowance, N144,598 for annual leave, and N2.89 million severance gratuity.
In total, the basic allowances for the 36 speakers and their deputies will cost the federal government N1.51 billion.
There are 784 members in the 36 state houses of assembly, and each member will be entitled to N1.34 million annual salary or N5.34 million in four years, and an allowance of N12.97 million.
In total, the 784 members will cost their states about N4.19 billion in salary and N10.17 billion in allowance.
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