Nigeria’s new president, Muhammadu
Buhari, and his deputy, Yemi Osinbajo, will
earn annual basic salaries of N3, 514, 705
and N3, 031, 572.50 respectively, according
to the information on the website of the
Revenue Mobilization Allocation and Fiscal
Commission.
The RMAFC is statutorily empowered by
Section 32 (d) of Part 1 of the Third Schedule
of the Constitution 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.
Details of Allowances.
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.
Mr. Osinbajo 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 the then 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.
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