It has revealed how much President Muhammadu Buhari and his vice President, Prof. Yemi Osinbajo will be earning.
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.