To many people Salary of Nigeria President and the vice President is a myth as they already believed it can’t be known because it hasn’t been ever revealed to people. I want to prove you wrong now that Nigeria’s President and his vice Salary Structure that contain how much President Muhammadu Buhari & Osibanjo earn is something that has been made public but unfortunately only few people know the exact figure.
The present President of Nigeria, Muhammadu Buhari slashed down his salary and the salary on other persons in power including Governors of the 36 states of Nigeria, senators and other people that this may concern. The major reason for this salary cut down is because of the desperate need to cut government expenditure in the country as it battle recession.
He didn’t only cut down his salary, he also cut down that of his vice too by the same percentage he used for himself, this is the sacrifice a good man that bear the interest of his country in mind does. This slashing down of his salary reduced his salary to N14 million naira down from the previous amount. It then means that his basic salary will be N3, 514, 705 according to the information on the website of the Revenue Mobilization Allocation and Fiscal Commission. Apart from this basic salaries, the president is also entitled to other regular allowances like: Hardship, 50 per cent of the basic salary – N1, 757, 350.50; consistency – 250 per cent, N8, 786, 762.50.
This other regular allowances include motor vehicle fueling 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. Meanwhile, other allowances that may be included are accommodation, furniture, and duty tour allowance (per night), estacode (per night) and medical allowances are also to be provided as requested. Note that this allowances are paid periodically, some monthly, a few once in four years. Duty Tour Allowance and Estacode depend on travels. For the ministers and the Secretary to the Government of the Federation, they are paid furniture allowance in every four years . In the case of The President and Vice President, their furniture allowance are provided for they are not paid please note this.
The salary of vice President Osinbanjo is N1, 010, 524. 17 monthly, and N12, 126,290.00 per annul. As you can see here, the president earn more than the vice president because he is the first citizen of the country who help in the running of everything . The details of their allowances contain that 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. On the other side, the vice president will get allowances such as motor vehicle, feeding and maintenance, special assistant, personal assistant, domestic staff, entertainment utility, security, newspaper and periodicals. His 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.
Vice President Osinbanjo 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. Things like security, utilities, entertainment, domestic staff, personal assistant, special assistant, periodicals, newspapers, vehicle maintenance and vehicle fueling are provided by the Government for the president.
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