Following the adoption of the Former Governor and Deputy Governor’s Pension Bill 2014 in Akwa Ibom State by the state’s House of Assembly, on Monday, Governor Godswill Akpabio may become the richest pension-earning former governor in Nigeria, earning close to N140 million annually.
The bill, prepared and passed in just 11days, also allocates a one-off 300 percent of the governor’s annual basic salary as Severance package, amounting to N6.7 million to anyone who ever completes tenure in the governorship seat. The bill made provisions for furniture allowance every four years. For former deputy governors, they would be entitled to about a half of the governor’s total package.
The motion for the bill to be read a third time and passed in to law was moved by Deputy House Leader Dr. Ekaete Okon, while it was seconded by Mr. Aniekan Akpan. Both of them are members of Peoples Democratic Party (PDP).
Below is a summary of the governor’s retirement package, according to the bill.
Monthly domestic staff allowance 5 million Naira (20000 pounds)
Annual pension 26, 7 million Naira (106000 pounds)
Annual medical allowance 100 million Naira (400000 pounds)
Annual Housing Allowance 6.7 million Naira (27000 pounds).
Retirement Villa 5-bedroom villa in Abuja or Akwa Ibom State
Severance pay 6.7 million Naira – (27000 pounds)
Furniture Allowance new furniture every four years
Annual Fuel/Car maintenance 6.7 million Naira (27000 pounds)
There are strong undertones that Apkabio orchestrated the Akwa Ibom Legislature to adopt the robust “millionaire” retirement package for his advantage in anticipation of his retirement in 2015, after a double term eight-year tenure. If the bill becomes law, Akpabio’s annual pension in retirement will be equivalent to the annual salary of the British Prime Minister David Cameron (109, 000 pounds).
