PRESIDENT Goodluck Jonathan and vice president Namadi Sambo are to get severance packages around N10,000,000m (£33,000) each that will put the severance pay of outgoing public officials up to over a total of N3.24bn (£10.5m). 

Under a remuneration plan put together by the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), all outgoing officials are entitled to generous severance packages. On May 29, President Jonathan and vice president Sambo will leave office having lost the March 28 presidential elections and under RMAFC guidelines, they are entitled to a pay-off worth 300% of their annual basic salaries. 

Currently, the Nigerian president’s annual basic salary is put at N3,514,705, making his severance pay N10,544,115. This severance allowance does not include and is without prejudice to his other constitutional entitlements as a former head of government. 

Similarly, vice president Sambo, who leaves office the same day as President Jonathan, is also entitled to 300% of his annual basic salary put at N3,031,572.50. This means that his severance allowance after May 29 is N9,094,717.50 and he too will be getting some constitutional entitlements and perks. 

About 76 senators are not returning to the National Assembly either because they did not stand for election or because they lost their bids to return. They are however entitled to N462,019,200 at the expiration of their tenure on June 5. 

Like President Jonathan and vice president Sambo, they are entitled to 300% of their annual basic salaries as severance allowances, amounting to N6, 079,200 per senator. In the House of Representatives, about 290 members are not returning and each of them is entitled to N5,955,637.50 as , adding up to a total of N1,727,134,875. 

Non-returning federal lawmakers, ministers and  presidential aides will also collect handsome severance handouts in line with the worked-out formula. Ministers will be collecting a total of N253, 967,212.5 as there are 42 ministers in President Jonathan’s cabinet, with 31 of them being senior ministers and 11 ministers of state. 

Each of the senior ministers is entitled to N6, 079,200, while each of the ministers of state   will receive N5,872,740. This means that collectively, the senior ministers will get N188, 455,200 at the expiration of their tenure on May 29 while collectively, the ministers of state will be collecting N65,512,012.5. 

All 23 presidential aides comprising special advisers, senior special assistants and special assistants will get N775,207,125. Apart from this number, there are several others estimated to total 110 who work with the vice-president and first lady, bringing tor total number to 133 and each of them is entitled to 300% of their annual basic salary which amounts to N5,828,625. 

Nigerian democracy has been identified as one of the costliest in the world as a result of a large number of political office holders. Lawyers  Jiti Ogunye and Ebun-Olu Adegboruwa, faulted the basis for earmarking such an amount of money for such purposes in the face of the economic challenges the country is grappling with.