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Revenue - ProbitasNews

Nigeria’s Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has revealed that each senator earns a total of N1,063,860 as monthly salary and allowances. The breakdown of these earnings, according to the commission, shows that each of the 109 senators earns Basic Salary of N168,866.70; Motor Vehicle Fuelling and Maintenance Allowance, ₦126,650.00; Personal Assistant, ₦42,216.66; Domestic Staff, ₦126,650.00; Entertainment, ₦50,660.00; Utilities, ₦50,660.00; Newspapers/Periodicals, ₦25,330.00; Wardrobe, ₦42,216.66; House Maintenance: ₦8,443.33 and Constituency Allowance: ₦422,166.66. The chairman of...

This development comes as the government continues to battle with high costs in relation to debt servicing to revenue ratio.   A review of quarterly statistical bulletin released by the Central Bank of Nigeria has shown that the federal government spent N700 of every N1000 it made on debt servicing in the first quarter of the 2024 fiscal year (first three months of the year). In Q1 2024, the Nigerian government had a retained revenue...