Chidi,
Nigeria Executive and Legislature budgets are not just bloated—they are downright criminal!
Executive/Legislators are sucking Nigeria dry. Former Central Bank Nigeria Governor—Sanusi Lamido Sanusi II who should know once said that about 25% of Nigeria budget went to maintaining the legislators. Further, in 2018, he said that each legislator monthly salary was N36M (36 million Naira) or approximately $1.2M annual salary in a country (Nigeria) with per capita income of only $5,710 and GDP of $397.3B. US per capita income is $63,690 with GDP of $20.54T and the national legislator makes $174K annually.
https://guardian.ng/news/slash-legislators-ministers-pay-by-half-sanusi-tells-buhari/
https://www.vanguardngr.com/2010/12/nass-budget-sanusi-refuses-to-shift-grounds/
So the “real” annual salary of Nigerian national legislator relative to those of US weighted on per capita income basis is $92M annually {1.2M *(1.2M/174K)*(63690/5710)} or alternatively US legislators make approximately 3-times the per capita income of average American while Nigerian legislators makes 210-times per capita income of average Nigerian. This is far worse if the numbers are relative to the size of the economies (~$427.85M/year).
I can only imagine the uproar if US national legislators are each making $92M annually, yet that is the equivalent of what Nigerian legislators makes annually. It gets worse compared to Singapore or compared to the size of the respective economies of Nigeria and USA. This is the official salaries before any corruption. The salary for the legislators is itself is official/legal corruption given the size of Nigerian economy.
Nigeria Legislators and the Executive are unsustainably sucking Nigeria dry.
https://businesstraffic.com.ng/nigerias-governance-structure-set-up-for-bankruptcy-sanusi/
Gozie
From: usaafricadialogue@googlegroups.com [mailto:usaafricadialogue@googlegroups.com] On Behalf Of Chidi Anthony Opara, FIIM
Sent: Monday, September 7, 2020 4:44 PM
To: USA African Dialogue Series
Subject: USA Africa Dialogue Series - Today's Quote
Instead of increasing the prices of essential goods and services in the midst of a pandemic, a government that claims a progressive credential, in dire need of fund, should have started with downsizing Executive and Legislature bloated budgets.
--Chidi Anthony Opara (CAO).
No comments:
Post a Comment