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. Click to signup for FREE news updates, latest information and hottest gists everyday
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Go ahead and tell that to the monkeys
ReplyDeleteoff course it is only monkey that wont believe that he is not as corrupt as jonathief
DeleteThank you for comment. Buhari is a honest person. He's the right person to lead us. Even how much was that, dummy Otueke president Jonathan income.
DeleteThere are people earning far more than these in Nigeria.
ReplyDeleteBreaking News Boko haram again ?? APC call GEJ again now ?? we want that change .How many people die ??
ReplyDeleteAlso reduce the salary of the theifs in NAS if you can.
ReplyDeleteHas GMB asked dem to reduce his salary?is it lesser Dan DAT of GEJ?story for the fools SA.
ReplyDeletePoliticians don't make money from salaries, they make money by kickbacks, contract awards, outright looting of the treasury. This 14million is chicken change compared to what is at stake when you look at the bigger picture
ReplyDeleteTheir(GMB and Osibaja) election is a devine guidance.God loves Nigeria because we still have pius people among us despite plenty Jonathief.PDP will never smell ASO ROCK Again.
ReplyDeleteI pity Osinbajo than Buhari because it will be more tolerable for Buhari than Osinbajo once political games starts.(When money is involved political game naturally takes over). Buhari can be forgiven but Osinbajo have no excuse whatsoever. I EXPECT ONLY FEW PEOPLE TO UNDERSTAND THIS
ReplyDelete