Skip to main content

Nigeria To Spend N7.8 Billion On Entitlements Of Former Presidents, Deputies, Others In 2021

While Nigeria prepares for a revenue shortage in 2021, with plans to borrow about a quarter of the year’s budget expenditure, the country will spend around N7.8 billion on entitlements, severance allowances and other perquisites to be given to the nation’s former leaders, details of the assented 2021 budget have shown.

According to PREMIUM TIMES, planned 2021 spending is the second-lowest amount that will be allocated to retired top government officials since 2017, when N5.9 billion was budgeted as gratuity for them.


The money is a yearly ritual in the nation’s budgetary cycle, and by the end of this year, it would have cost Nigeria about N68.8 billion in five years.

This year, of the total N7.8 billion, former heads of state, presidents and their respective deputies will earn a combined entitlement of N2.3 billion.

This is the same amount that has been approved for the former leaders since 2017, save 2018 when they got N7.3 billion.

The appropriation is in accordance with the remuneration for the former Presidents’ Act, which offers a slew of luxuries which have been faulted by some, especially because four in every ten Nigerians earn less than N377 per day, and the unemployment rate reached a record high last year as the country keeps struggling to diversify its economy to shore up its revenue base.

As upkeep allowance, the act mandates the monthly payment of N350,000 to former presidents and N250,000 to former vice-presidents and chiefs of general staff, and this is subject to a review whenever there is an increase in the salary of the serving president.

Also, the families of all deceased former presidents are entitled to an annual allowance of N1 million payable as N250,000 per quarter, while the families of deceased former deputies get N750,000 per annum payable in the sum of N187,500 per quarter.

“The allowances shall be applied for the upkeep of the spouse and education of the children of deceased former heads of state and deceased former vice-presidents up to the university level,” the act reads.

However, if the spouse of the deceased leader remarries, they stop getting the allowance.

In the same vein, the nation’s retired heads of service and permanent secretaries will get a combined N4.5 billion as benefits this year.

This is an increase from the N3.6 billion the former officials got in 2018, and N2.6 billion in 2017.

Also, for the fifth year running, retired heads of government agencies and parastatals will share among themselves N1 billion as severance benefits.

Politics

News

AddThis

: 

Original Author

: 

SaharaReporters, New York

Disable advertisements

: 

from 24HRSNEWS
via 24HRSNEWS



from EDUPEDIA247https://ift.tt/3qL5MXe
via EDUPEDIA

Comments

Post a Comment

Popular posts from this blog

The beautiful model Christina Evangeline: age, ethnicity, net worth, husband, baby

The art of modelling is more than merely putting on designer clothes and hitting the runway. It requires a lot of effort, self-care, determination, and an energetic spirit. Christina Evangeline, who is very attractive and beautiful, is a model who dedicated all her energy into this esteemed career. Fame and plenty of public attention came with her job, and she continues to show young women that success does not come overnight. It requires hard work and passion! Image: instagram.com, @yoevangeline Source: Instagram Who is Christina Evangeline ? According to the Christina Evangeline biography, she is a model who is best known for being Kenan Thompson’s wife. Christina was born on the 24th of March 1989 in the United States of America. Currently, Christina Evangeline age is 30 years. Her nationality is American, and she identifies herself as a Christian. Christina Evangeline ethnicity is White, and her Zodiac sign is Aries. Christina Evangeline race is Caucasian. Details of her paren...
Post a Comment
Read more

Former Maritime Agency Boss, Buba Galadima, Accuses AMCON Of Witch-hunt After Property Takeover

  A former Director-General of the Nigeria Maritime Agency, Buba Galadima, has accused the Asset Management Corporation of Nigeria of witch-hunt after the agency took possession of his business and assets on Tuesday in Abuja. Galadima, an ardent critic of President Muhammadu Buhari, claimed that he did not borrow money or have unpaid debt with Unity Bank, which lodged a complaint against him and occasioned AMCON’s move on Tuesday. The properties taken over include House No. 15, Addis Ababa Crescent, Wuse Zone 4, Federal Capital Territory, Abuja and House No. 4, Bangui Street, Wuse 2, also in Abuja.  Reacting to the situation, Galadima said, “This is an attempt to disgrace and break me down. This is injustice and an attempt to humiliate me. "But I am unbreakable and they can never silence me. They sacked me and over 50 people that sleep in the apartment. "We don’t know where to go. We will remain on the streets. We will remain on the streets until God provi...
Post a Comment
Read more

Learn how to clean washing machine in a surprisingly easy way

All machines can break down one day, and your washing machine is no exception. Knowing how to clean washing machine timely and effectively will help you reduce or even avoid additional expenses on servicing. Right now, you will be surprised to discover how easy it is! You do not even need any additional devices to do this except the ones that you already have in your house! Image: pexels.com Source: UGC A washing machine is an essential device in a modern home, but it has its own temper and demands! It reacts to the softness of water and quality of detergents that you use. In separate cases, the frequency and intensiveness of washing cycles can play their part. Now, it is time to discover several simple and cheap methods of cleaning of the essential parts of your little helper, to remove unpleasant odours, mould, and scale. The most important tips: how to clean washing machine How often is it necessary to do this cleaning? What do you think? Specialists insist on once in ...
Post a Comment
Read more