Akin Alabi has been trending in social media for many reasons but many called him out for not fulfilling his promise of disclosing how much he earns as a federal legislator.
We can confirm he has fulfilled his promise of disclosing it in a full article titled “30 days in Abuja”
Who is Akin Alabi?
Otunba Akin Alabi is a Nigerian politician, entrepreneur and philanthropist. He is the author of the business and marketing book, Small Business Big Money and also the founder of NairaBET.com, Nigeria’s first sports bookmaking company.
Alabi emerged the All Progressive Congress House of Representatives Candidate for the Egbeda/Ona Ara Federal constituency in Oyo State for the 2019 general elections , and currently representing his Federal constituency in Abuja.
This is extract from his article
Life in Abuja
Abuja is a bit expensive. I am not surprised. I didn’t expect less. I have been living in hotels. The kind of house I want to live in and the area I want to live in seems to be out of my budget. I don’t want to buy a house in Abuja yet, if I ever will.
I am looking for a fully detached house with my own compound. I don’t want to live in a place where we have to share facilities. I like to be alone so when 50 people come to spend time with me from my constituency, no alakowe will come and meet me that we are making noise. lol
In Maitama where I looked for such houses, the prices were over the top. Twelve Million Naira. Fifteen Million Naira were being brandished. I ran away. lol. I’ve changed location to places like Katampe and Life camp. Now I’m humble. Why wouldn’t I? The housing allowance provided by the National Assembly is not enough to rent what I want. I still have the option of staying in Maitama if I go for an apartment where I will share facilities. That should be cheaper.
Which brings me to the issue of money. If you are looking to come and make BIG money at the National Assembly LEGALLY, please forget about the idea. A lot of people end their tenures here worse off than they were when they came in.
Anyway, talking about the allowance, for both Housing and Furniture, I got (N3,970,000.00 plus N7,940,000.00). I am told I will get it ONLY ONCE in 4 years. You see why I have become humble? lol.
I’m told we would get a car loan of about N7m and I’m told after 4 years, we will get N5m as severance. You can call that your gratuity or retirement benefit. In a nutshell, the total a lawmaker will be getting at the national assembly, plus salaries (basic salary is N700k), plus housing and furniture allowances, plus newspaper allowance, plus travel allowance, plus office materials and supplies allowance (we have to run the office ourselves), plus retirement benefit, plus EVERYTHING will average out to about N9m monthly in TOTAL. Nothing extra. You are NOT GETTING ANYTHING ELSE outside these.
With the gigantic promises I made back home, the entire earnings will have to go to my people and I will probably have to dip into my personal savings and investments. Make name no go spoil. lol
People talk about constituency projects. No! Lawmakers do not get paid money for constituency projects. You “nominate” projects for your constituency and the relevant agencies will execute them. If you are coming to the National Assembly to get rich, it is either you are deluding yourself or you are planning to do something illegal.
And I don’t plan to do anything illegal.
The interesting thing is that the information about the salaries and allowances of lawmakers is readily available at The Revenue Mobilization, Allocation and Fiscal Commission (RMFAC). I asked a journalist working for a major newspaper why his paper has not published the true breakdown.