ABUJA, Nigeria – Nigeria could pay up to N5.87 billion per year for the housing allowances of National Assembly members, according to a new study.
This equates to N23.48 billion over a four-year term for the Federal Government.
The data, sourced from the Revenue Mobilisation and Fiscal Allocation Commission, RMAFC, website on Wednesday, June 21, 2023, includes allowances for accommodation, domestic staff, utilities, house maintenance, wardrobe, and furniture.
The housing allowances for Senators will amount to roughly N1.38 billion yearly, while those for the House of Representatives members will be about N4.49 billion annually.
The sums do not include allowances for the Senate President, Deputy Senate President, or the Speaker and Deputy Speaker of the House of Representatives, suggesting the total cost could be higher.
Meanwhile, residential property prices in high-end areas of the Federal Capital Territory have risen by at least 60% due to high demand from newly inaugurated National Assembly members.
A real estate firm employee, who requested anonymity, said, “we have over 400 NASS members with over 500 support staff looking for housing accommodation at the same time.”
This demand is driving up housing costs.
Real estate agent Bimbo attributed the surge in prices not only to the influx of lawmakers but also to economic factors, such as the removal of fuel subsidies and high inflation.
Executive Director of the Housing Development Advocacy Group, Festus Adebayo, saw the development as a positive one for the real estate sector but expressed concern that it might push rental prices beyond the reach of many salary earners.
He urged the government to “provide palliative not only for government workers but for Nigerian workers in housing.”
