House Of Assembly Set To Collect N8.64 bn Next Week For Wardrobe Allowance

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The newly inaugurated members of the National Assembly are to receive N8.64 billion as Wardrobe Allowance next week.

N8.64 billion wardrobe allowance translates to N17.5 million for each of the 360 members of the House of Representatives and N21.5 million for each of the 109 senators. This is asides the other allowances they are entitled to which includes furniture, housing and vehicle.

Based on the approval of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), the housing allowance for political office holders is usually 200 per cent of their annual salaries, the furniture allowance is 300 per cent of annual salaries, while a motor vehicle loan is pegged at 400 per cent of their annual salaries.Going by this policy, each of the 107 senators besides the Senate President and his deputy, will be paid N4,052,800 as housing allowance. This will be paid to them every year, translating to N433,649,600 as housing allowance to be paid to the Senate annually, while the Senate President and the Deputy Senate President will be provided accommodation by the federal government.

On the other hand, each member of the House of Representatives will be paid N3,970,425 as housing allowance. This implies that the each of the 358 House of representatives members aside the Speaker and Deputy Speaker, will collect a total of N1,421,412,150 as housing allowance.

Read the full report on ThisDay.

King

King

King is a writer and guitarist. He is an opinionated, multi talented individual with love for music and everything it concerns

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