NEWS: Senators, Reps to get N9bn allowances next week

NEWLY-INAUGURATED senators and members of the House of Representatives are set to receive the first set of their allowances, which sources in the National Assembly said would cost the Federal Government the sum of N9 billion.
It was gathered that the management of the National Assembly has concluded plans to pay the lawmakers the three set of allowances: car loan, furniture allowance and housing allowance, from next week.
Though a member of the management told the Nigerian Tribune that the banks were yet to receive pay advice for that purpose, it was learnt that the money would be paid next week.
It was gathered that the lawmakers, who had completed documentation at the National Assembly, had already supplied their account details for necessary payments.
The senators and members of the House are entitled to 300 per cent of their annual basic salaries as car loan, another 300 per cent of annual basic as housing allowance and 250 per cent of their annual basic as furniture allowance.
A senator earns about N2 million as annual basic salary, while a member of the House earns N1.8 million.
Senators will thus get the sum of N6 million each as car loan and housing allowance and another N4.5 million as furniture allowance.
The figures will translate to N16.5 million for each senator, and N14.5 million per member of the House of Representatives.
It was also gathered that the lawmakers were expected to refund the car loan before the expiration of their tenure, the furniture and housing allowances are, however, not to be refunded.
“The management of NASS has concluded plans to pay the necessary allowances of the new lawmakers.
“We have it on good authority that the payments will be effected next week. That will enable the lawmakers to settle down to business.
“As you can see, a number of them have been staying in hotels since they arrived Abuja.
“They need to settle down fast for the tasks ahead,” a source  said.
The administration of former president, Chief Olusegun Obasanjo, had, in 2006, sold out the Apo Legislative Quarters, Abuja, which used to house the lawmakers, to the set of senators who served in the fifth Assembly between 2003 and 2007.
The government had then instituted the monetisation policy, which it said would relieve it some expenses on the official quarters.
The policy had thus robbed members of National Assembly of the ready-made accommodation in the Federal Capital.