The Chairman of Revenue Mobilisation and Fiscal Allocation Commission, Mr. Elias Mbam, on Wednesday, June 17, 2015 revealed that each senator earns an annual income of N506,000 for his or her wardrobe allowance.
During his courtesy visit to Senate President Bukola Saraki, Mbam mentioned that the wardrobe allowance given to senators was to ensure that the lawmakers in the upper chamber dress properly.
He disclosed that the amount which was 25 per cent of their basic salaries, did not include housing and other allowances designated for the senators.
“It is 25 percent of the basic salary of senators and if you apply that, every senator will receive N506,000 per annum.
“House of Representatives members receive less but i dont have the figure.
“It is less than that.
“Certainly there are other allowances.
“There is utility allowance, there is Housing, there is entertainment allowance and at the end of the service, there is severance allowance.”
Mbam also disclosed that his agency would soon commence a downward review of the allowancs of lawmakers because parameters such as the state of the economy, rate of inflation, cpacity to pay, and the reality of the day.
“The commission is currently reviewing the 2008 Remuneration Act and equally we expect it will be ready by the end of the third quarter and once we are ready, we will make it public and of course, present it to the National Assembly,” he said.
He further vowed that his the RMFAC will soon publish a comprehensive list of the allowances accrued to public officers including the lawmakers, on its website to avoid circulation of wrong information.
