Have you ever wondered how much is Nigeria president’s salary and allowances? You might have been guessing the salary and allowances of the President of Nigeria and his Vice President.
Look no further, the breakdown of the figures is staring you in the face.
We believe that this information should be served every Nigerian as it is their right to know how much the President and Vice President takes home as payment. Please note that this is not meant for the purpose of slander but to serve the public important information from the office of the President and Vice President of Nigeria.
Nigeria’s incumbent President and Commander-In-Chief, Muhammadu Buhari, and his deputy, Yemi Osinbajo, earn annual basic salaries of N3, 514, 705 and N3, 031, 572.50 respectively. That is to say that the President earns very little more than the Vice President.
The Revenue Mobilization Allocation and Fiscal Commission, RMAFC is statutorily empowered by Section 32 (d) of Part 1 of the Third Schedule of the Constitution of the Federal Republic of Nigeria to determine the remuneration appropriate for political office holders.
Apart from the salaries, the President is entitled to various regular allowances like: Hardship, 50 per cent of the basic salary – N1, 757, 350.50; consistency – 250 per cent, N8, 786, 762.50.
Other regular allowances like motor vehicle fuelling and maintenance, special assistant, personal assistant, domestic staff, entertainment, utilities, security and Newspapers and periodicals are to be provided by the government – not paid for.
Allowances like accommodation, furniture, and duty tour allowance (per night), estacode (per night) and medical allowances are also to be provided as requested.
The allowances are paid periodically, some monthly, a few once in four years. Duty Tour Allowance and Estacode depend on travels.
For instance, furniture allowance to other cadre of officials, like ministers and the Secretary to the Government of the Federation, is given once in four years. The President and Vice President are not paid furniture allowance as they are provided for.
When all allowances payable each month are added, President Buhari will take home N1, 171,568.33 each month, and N14, 058, 820.00 yearly.
Vice President Osinbajo will receive N1, 010, 524. 17 monthly, and N12, 126,290.00 per annum.
Breakdown of Allowances Paid The President and Vice President of Nigeria
The President’s severance gratuity is N10, 544, 115, that is 300 per cent of basic; he is entitled to a leave allowance of N351, 470. 50, (10 per cent of basic salary) and an optional motor vehicle loan of N14, 058, 820, at 400 per cent to be repaid before the expiration of the president’s tenure.
The Vice President will also get allowances such as motor vehicle, feeding and maintenance, special assistant, personal assistant, domestic staff, entertainment utility, security, newspaper and periodicals.
While the number two man’s hardship, consistency, severance gratuity and leave allowance are at N1, 515, 786.25; N7, 578, 931.25; N9, 094, 717.50 and N303, 157.25 respectively.
He will also receive a motor vehicle loan at 400 per cent of his basic salary which is N12, 126, 290; to be repaid at the expiration of his tenure.
The salaries and allowances are drawn from the Consolidated Revenue Fund.
The current salary structure and allowances were fixed by the RMAFC in 2007.
Before the review, the basic annual salary of a former President, Olusegun Obasanjo, was N2,586,000 per annum, while that of his deputy, Atiku Abubakar was N1,938,000 the same as that of the Chief Justice of Nigeria and the Senate President, both heads of the judiciary and the legislature.
This was as a result of the review of the salary structure and associated allowances for the top federal public office holders earlier carried out by the National Salaries and Wages Commission.
This followed the review of the salary structure and associated allowances for the top federal public office holders earlier carried out by the National Salaries and Wages Commission.
That review, which took effect on May 1, 2000, was contained in a memo SWC.04/S.1/Vol.1V/186 dated May 15, 2000 and signed by G.P.O. Chikelu, the then Chairman of the Commission.