Politics Nigeria: President Buhari on taking over office reviewed the salaries of the President and the vice-president of Nigeria. He decided to take a pay cut.This is to quell the complains of Nigerians that politics in Nigeria is designed for politicians to earn the amount they don’t deserve. Most of the key men in Nigerian politics are rich and this has instigated the notion that politics in Nigeria is a get-rich-quick venture.
In this article, we shall highlight the latest review of the Revenue Mobilization Allocation and Fiscal Commission (RMAFC) for salaries of the president and the vice-president of Nigeria.
Salary of the President of Nigeria
According to RMAFC, the annual salary and allowances of the President (Muhammadu Buhari) is N14.4 million. The monthly basic salary of the President of Nigeria is N514,705.
In addition to this, the President is given a hardship allowance of N1,757,350, constituency allowance of N 8,786,762 and Leave Allowance of N351,470. The Federal government also provides the following for the President:
Vehicles, Special Assistants, Personal Assistants, entertainment, security, utility bills, newspapers, medical bills and clothing
The President’s travel allowance and the allowance for duty tour were not revealed. On successful completion of his tenure, the president will be given a gratuity which is 300% of his annual salary.
Salary of the Vice President of Nigeria
The Vice President is paid an annual basic Salary of N2,064,400. He is also given hardship allowance of N1,515,786.25 and a Constituency Allowance of N7,578,931.25, cumulating his total annual earning to be N12.1million.
In addition to this, he is given the following allowances as percent of his annual salary:
Vehicles and their maintenance: 75 percent
Personal Assistants: 25 percent
Domestic staff: 75 percent
Entertainment: 45 percent
Utility: 30 percent
Monitoring: 20 percent
Accommodation: 200 percent
Furniture: 300 percent
His duty Tour Allowance is N 35,000
Leave Allowance: 10 percent
His travel allowance is $900 per night.
On successful completion of his tenure, the president will be given a gratuity which is 300% of his annual salary
According to RMAFC, salaries of the president and the vice-president of Nigeria are subject to review by the incumbent president. The salaries of the president and the vice-president of Nigeria are among the highest in the Africa.