MINIMUM WAGE OF CIVIL SERVANTS VS SALARIES OF THE POLITICAL CLASS IN 1979 ..
✍️From this attached newspaper report , the annual salary of the President was N50,000 per annum salary in 1979
✍️This annual salary was equivalent of $83,333 then, [ because the exchange rate of the $1 was equivalent of N0.60]
✍️Thus,the President of Nigeria in 1979, earned dollar equivalent of $6,944 or N10,312,500.00 in today’s naira value as monthly salary [ at current exchange rate of N1,485/$1]
✍️The annual salaries of the Senate President and House of Representatives Speaker in 1979 were N18,000/$30,000 and N17,000./$28,333 per annum respectively.
✍️This translates to a monthly salary of $2,500/N 3,712,500.00 in today’s naira value for a Senator and $2,361/N3,506,085.00f for a House of Rep member in today’s naira value
✍️Minimum wage of Civil Servants within the same period was N125/$208.. It was later moved to N150/$250 in 1981.
✍️Thus, the ratio of the salaries of the Senate President to that of the Minimum wage paid to civil servants in Nigeria in 1979 was 12:1. [ ie $2,500:$208]
✍️If we are to adopt the same ratio in 2024, the average minimum wage of the civil servants, based on the fat pays and take home of the Senators , Reps and Ministers should be N29million divided by 12= N2,416,666.00
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✍️With the benefits of this historical hindsight and other scientific indicators that we have Marshalled out , the NLC must include in their demand and negotiations for the downward review of the salaries, wages and perks of office of political office holders to align with that of the civil servants or at worst position remain at the 12:1 ratio parameters
✍️At the current minimum wage of N30,000 , no political office holders [ elected or appointed], should have been receiving anything more than N360,000 all in wages per month …
✍️The alleged N29million or is it N37million per month salary that each of the current National Assembly members in Nigeria are receiving today is not only atrocious, but smirks of greed, criminality, cringe worthiness
wickedness and insensitivity.
✍️If the NLC and TUC are sincere, they must never back down until these demands are met, including the reversal of the knee jerk criminal tarrif increase of a kwhr of electricity to N225…It is criminal and have no scientific basis..
QED
OBIARAERI, Nnaemeka Onyeka
No be today these guys begin chop jumbo pay…..this current generation is even worse….. Until they cut the cost of governance, these opportunists won’t stop… Let the genuine and patriotic Nigerians go for Public service simply because of service not RETIREMENT HOME…… Nonsense and ingredients!!!
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