President-elect to pay N9bn as allowances to lawmakers, ministers upon assumption of office

dimeji akinloye

May 9, 2015 1:10 PM

The money is in payment for housing, furniture allowances, and vehicle allowances.

Ministers, and the the 8th National Assembly comprising of Senators and members of the House of Representatives that will be appointed by the President-elect retired General Muhammadu Buhari will get the sum of N9 billion as welcome incentives, Punch reports.

The benefits include housing and furniture allowances, and motor vehicle loan.

As prescribed by the Revenue Mobilisation, Allocation and Fiscal Commission, the perks are the non-regular allowances political office holders are entitled to.

The Commission stipulates that they get housing allowance - once a year; furniture allowance – once in four years; and motor vehicle loan once in their tenure.

The office holders are also expected to be paid other allowances, apart from housing, furniture and motor vehicle at the beginning of their tenure.

According to Punch, each senator will get N4, 052, 800 as they resume office as housing allowance – renewable yearly.

With the total number of senators at 109, it means N433, 649, 600 million will be paid to senators for housing annually.

The housing allowance excludes the Senate President and the Deputy Senate President because the Federal Government provides accommodation for them

In other words, the total sum that will be dolled out in payment for allowances to all the incoming office holders amounts to about N9 billion.

However, the sum of N3.24 billion, according to reports, is expected to be paid to the outgoing President Goodluck Jonathan, Vice-President Namadi Sambo, non-returning federal lawmakers, ministers and aides to the President as severance allowance.

dimeji akinloye