"Earning N29million a Month Isn't Enough" - Ex-Senator Shares Surprising Truth About Quitting His Business for Politics [Video]

Former Senator Ishaku Elisha Abbo, who represented Adamawa North, has made a striking revelation about the financial realities of being a Nigerian senator.

Despite the seemingly substantial monthly earnings of N29 million, Abbo claimed that this amount is not as massive as it appears. He stated, "29 million looks big just on paper. I am saying this as a very honest man."

Abbo detailed that during his tenure, his cumulative monthly earnings, including salary and allowances, amounted to N14.4 million. This included various allowances such as wardrobe and vehicle allowances, alongside a base salary of a little over one million naira.

However, he emphasized that even this amount was insufficient to meet the demands and challenges of his office.

Reflecting on his personal financial situation, Abbo revealed that he became poorer after leaving his business to serve in the Senate.

"I had to leave the company I founded, in which I was the Managing Director/Chief Executive Officer, to go into governance when I won the election," he explained.

The financial strain was exacerbated by the numerous requests for assistance from his constituents, which often required him to subsidize expenses out of his own pocket. He recounted an instance where he spent N14 million on hospital bills for a single individual.

Abbo also highlighted the disparity between the earnings of senators and state governors, noting that some governors receive up to N1 billion monthly for state responsibilities.

"From N14 million, I was paying for people’s scholarships, subsiding people’s expenses while a state governor in this country is going home with over N700 million security vote every month, some go home with N1 billion to do other security issues," he said.

The former senator's comments have sparked widespread debate, particularly given the economic hardships faced by many Nigerians. His assertion that the National Assembly is "an institution so vilified" shows the contentious nature of lawmakers' remuneration in Nigeria.

Despite the criticism, Abbo maintained that the monthly salary and allowances of senators are not excessive, stating, "It is not humongous."