FG To Spend Over N23 Billion On Accommodation Of 10th National Assembly Members

The federal government has allocated N23.48 billion for the accommodation of lawmakers in Nigeria. This means, every year Nigeria will spend N5.87 billion on the National Assembly members' housing allowance.

According to a document shared on Revenue Mobilisation and Fiscal Allocation Commission (RMAFC)'s official website, the housing allowance will cover accommodation, domestic staff salary, utilities, house maintenance, furniture, and wardrobe.

While the furniture allowance is paid once every four years for all the public office holders, how often payment will be made to the National Assembly members has not been disclosed in the document, as per Punch.

Considering the housing allowances of the Senators, it will cost the country about N1.38 billion every year. RMAFC didn't reveal the amount Senate President and Deputy Senate President will receive. Hence, the amount mentioned is the allowance for 107 senators.

The prices of residential apartments are skyrocketing after the inauguration as newly elected members of the national assembly are looking for allocation in highbrow areas of the Federal Capital Territory.

A real estate firm's staff member disclosed that there are more than 900 people searching for residential apartments at the same time, which has increased residential prices.

"Yes it has, we have over 400 NASS members with over 500 support staff looking for housing accommodation at the same time so automatically the force of demand and supply has come into play so the cost of housing has jacked up," the staff member told Punch.

A real estate expert explained to the outlet how the prices of houses located in posh areas have increased drastically following the inauguration. The agent noted that before the inauguration, houses were available for rent in such areas for N3 million and now, it has increased to N6 million.

"Other smaller places for their aides that were around N800,000 now sell for almost N1.4m," the agent added. "Most of the senators prefer to buy than rent and this is even more expensive, a house in those posh will cost not less than N150m."

The expert shared that the arrival of new senators is not the only reason but fuel subsidy removal has also played a part in increasing the cost.

"Even with this number, there are still empty houses that are not occupied and the owners will instead leave them to waste than sell them for a lesser amount," the agent explained. "I have also noticed that some senators prefer to stay in short lets apartments for the meantime before getting their apartments. For instance, I know someone that paid to stay in an apartment for N1m per month."

The inauguration ceremony took place on May 29, when Nigeria elected its new president, Bola Ahmed Tinubu.

On the day of the inauguration, the president announced that the fuel subsidy has been removed. In fact, he also added 7.5% VAT on diesel, despite acknowledging the fact that subsidy removal had already imposed an extra burden on the citizens.