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BREAKING: 50% Salary, Allowance Cut For Political Office Holders, NASS Members Recommended (DETAILS)
BREAKING: 50% Salary, Allowance Cut For Political Office Holders, NASS Members Recommended (DETAILS)
Kingsley Moghalu has proposed a 50% reduction in the salaries and allowances of political officeholders and members of the National Assembly (NASS) in response to the prevailing economic challenges in the country.
The economist, and former deputy governor of the Central Bank of Nigeria (CBN), expressed this during his appearance on Channels Television’s Politics Today.
He emphasized that even amidst the economic strain following the removal of petroleum subsidies, Nigeria’s governance practices still foster excessive spending among political figures and appointees.
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“The culture of governance is a very important issue that needs to be addressed and the tone has to be set from the top – from the presidency down. It has to include the National Assembly because a lot of resources go there and they are supposed to be independent of the executive,” Moghalu said Monday.
“So, they themselves must come on board, examine themselves, and say: ‘Look, even if we have been making this mistake in the past, we cannot continue this way. We have to cut our salaries.’ I recommend a 50% cut for all political office holders and all national legislators. It would make people a little bit more sober. It would make them understand that we are in hard times.”
Moghalu pointed to Scandinavian nations where leaders utilize public transportation and sometimes even commute by bicycle to their workplaces. He argued that in Nigeria, the prevailing governance culture prioritizes self-interest over public service.
“So the culture of governance – all these excessive demonstrations of power and influence – is a very negative culture because it shows that government is not for service,” he maintained.
“It is for self-aggrandisement. It is for political power for its own sake, not for leadership and service.”
Moghalu expressed bewilderment over the widespread desire for sirens and lengthy motorcades in the country. He criticized political leaders for failing to emulate the practices of developed nations.
He also raised concerns about Nigeria’s pursuit of additional loans, highlighting that the funds are not allocated for their intended purposes.
“So, my comment is simply a reflection of the fact that the political class in Nigeria – more broadly – has prevented the economic progress of the country because of their own self-seeking and rent-seeking behaviour,” the former presidential candidate added. “This is the problem, not borrowing.”
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