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.
Culled From PremiumTimes

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