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.
http://yabaleftonline.com/2015/05/revealed-see-how-much-president-buhari-yemi-osinbajo-would-earn-as-annual-salary-allowances/

They didn't include Aisha's wristwatch allowance