Monday, November 16, 2015
Allowance Ministers will be Receiving
According to Revenue Mobilisation, Allocation and Fiscal Commission, while each of the ministers of state receives N880, 911 for entertainment, his senior colleague receives N911, 880, which is 45 per cent of their annual basic salaries.
The annual basic salary of a substantive minister is N2, 026,400, which otherwise is about N168, 866:66 on monthly basis.
However the remunerations between senior and junior ministers differ in the various allowances they receive, which include utilities, medicals, newspapers and periodicals, motor vehicle maintenance and ad-hoc staff salaries.
For utilities, each of the ministers is entitled to 30 per cent of their annual salary which translates to N607, 920 per annum or N50, 660 a month.
For monitoring, each of the ministers is entitled to 20 per cent of their annual basic salary. This translates to N405, 280 per annum or N33, 773.33 per month.
For newspapers/periodicals, each of the senior ministers will get 15 per cent of the annual basic salary. This translates to N303, 960 per annum or N25, 330 per month.
For minister of state each of them is entitled to 30 per cent of their annual salary which translates to N587, 274 per annum or N48, 939.50 a month for utilities.
For newspapers/periodicals, each of the state ministers will get 15 per cent of the annual basic salary. This translates to N293, 637 per annum or N24, 469.75 per month.
Senior ministers will get N4, 052,800 as housing allowance. The annual housing allowance is 200 per cent of a minister’s annual remuneration.
Each of the ministers is also entitled to N6, 079,200 as furniture allowance. The furniture allowance is 300 per cent of a minister’s annual salary. Unlike the housing allowance, however, the furniture allowance is paid once in four years. This means the furniture allowance per annum is N1, 519,800.
Each of the ministers of state, on the other hand, is entitled to N3, 915,160 as housing allowance and N5, 872,740 as furniture allowance. Should any of the ministers desire, they are also entitled to N7, 830,320 as motor vehicle allowance, which is a loan repayable by the end of the tenure of the minister.
Like their senior counterparts, the state ministers are also entitled to other perks. These include motor vehicle fueling and maintenance allowance of N1, 468,185 (annual value) with a monthly value of N122, 348.
Personal assistant allowance of N489, 395 per annum is also payable. This has a monthly value of N40, 782.91. This allowance is 25 per cent of the basic salary.
Each of the state ministers is entitled to a payment of N1, 468,185 for domestic staff. This is 75 per cent of the annual basic salary and on monthly basis amounts to N122, 348.75.
Like their senior counterparts, the security personnel, medicals and special assistants are also provided for the state ministers. The tour duty allowance is N30, 000 per night; the estacode is $900 per night and the leave allowance is 10 per cent of their annual salary or N195, 758.