The world’s highest paid politician, Singapore’s Prime minister Lawrence Wong has increased his salary by $1 million (N1.3 billion), widening the already-large pay gap between him and other world leaders such as the Nigerian president who annually earns about N14 million ($10,500) and U.S. president with $400,000. 

Mr Wong also raised his ministers’ pay by nine per cent.

He stated this at the parliament on Tuesday, asserting the pay increase became necessary to attract talents into the public service.

“I believe this will give me and future prime ministers a better chance of persuading capable Singaporeans to step forward, and of building the strongest possible team for Singapore,” he said.

The pay increase took Mr Wong’s annual salary from S$2.2 million ($1.7 million) to S$3.6 million ($2.8 million) marking about 64 per cent increase and cementing his position as the world’s best-paid politician, far out-earning his global counterparts. 

Hong Kong leader John Lee, earns about $719,000 (N950 million) while Switzerland’s president Guy Parmelin receives about $606,000 (about N801 million).

British Prime Minster Andy Burnham has an annual take-home of $230,000 (about N304 million).

Ministers previously earning about $870,000 will now receive as much as $1.4 million in annual pays.

Mr Wong, however, said he would donate the increase to charity organisations for the next five years.

The increase has attracted backlash in a nation where the median pay was about $5,000 for ordinary citizens.

The politicians’ pay package is determined by whether the Singaporean economy hit certain KPIs in GDP, unemployment rate, income growth and so on.

The country prides itself on a low corruption index with Singapore consistently ranking low in corruption evaluations conducted by Transparency International.

The Singaporean government has long argued that attractive remuneration for politicians deters looting.

“We recognise that highly able people have alternatives outside politics,” he said. “So we pay political officeholders salaries that are competitive, but with a substantial discount to reflect political service.”