Wednesday, April 29, 2015

Jonathan, Sambo, Ministers, others to get N3.24bn severance pay

According to the Remuneration Package  put together by the Revenue Mobilisation, Allocation and Fiscal Commission, President Goodluck Jonathan, Vice-president Namadi Sambo, non-returning Senators and House of Representatives members, ministers and  presidential aides will be paid a severance package of about N3.24bn as their stay in office terminates on May 29th this year. 

According to Punch, President Jonathan  is entitled to 300 per cent of his annual basic salary which is put at N3, 514,705 and therefore his severance allowance will be N10, 544,115 after May 29. This however does not affect his constitutional benefits as a former President.

In the same vein, Vice-President Namadi Sambo, is entitled to 300 percent of his basic salary which is put at N3, 031,572.50. This means that his severance allowance after May 29 is N9, 094,717.50. He is also entitled to his constitutional benefits as a former Vice President. 
76 senators who will not be returning to the National Assembly will be entitled to N462,019,200 at the expiration of their tenure on June 5. They too are entitled to  300 per cent of their annual basic salaries as severance allowances. This amounts to N6, 079,200 per senator.
290 members of the House of Representatives will not be returning to the National Assembly. They are entitled to N5, 955,637.50 each as severance allowance. This means that they will be paid N1, 727,134,875.
The ministers, on the other hand, will be collecting a total of N253, 967,212.5. There are 42 ministers in Jonathan’s cabinet. Thirty one of them are senior ministers and 11 are ministers of state.
Each of the senior ministers is entitled to N6, 079,200 severance allowance while each of the ministers of state   will receive N5, 872,740.
There are 113 aides who work with the President, Vice President, Office of the First Lady as special advisers, senior special assistants or special assistants to the President. Each of them is entitled to 300 per cent of their annual basic salary which amounts to N5, 828,625.

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