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Find out the current salary of the Nigerian President and understand how it affects the country’s budget. Discover facts on the wage breakdown, history and developments in decisions regarding an increase or decrease in the Nigerian President Salary.
How much is President Buhari salary and allowances? How much is the Nigerian president’s salary per month? How much is our president’s salary? What is the salary of Nigerian governors? How much is President Buhari’s salary in Naira?
See Also: Names Of Presidents In Nigeria From 1960 Till Date
Salary Of Nigerian President 2023
The official monthly salary of President Muhammadu Buhari is pegged at ₦1,171,568 with several allowances that include a hardship allowance of ₦146,446 per month and a Consistency allowance of ₦732,230 per month.
Other allowances the President is entitled to are Personal assistant allowance, constituency, vehicle fuelling/maintenance, domestic staff, entertainment, recess, newspaper/periodicals, utilities, house maintenance, security, special assistant, wardrobe, duty tour, accommodation, estacode, and medical allowances.
Note that the President and Vice President are not paid furniture allowance as they are provided for.
These allowances are paid periodically, some monthly, and a few once in four years. Duty Tour Allowance and Estacode depend on travel.
Nigerian President Salary: Breakdown of President And Vice President Allowances
President Buhari’s severance gratuity is ₦10, 544, 115, which is 300 per cent of basic; he is entitled to a leave allowance of ₦351, 470. 50, (10 per cent of basic salary) and an optional motor vehicle loan of ₦14, 058, 820, at 400 per cent to be repaid before the expiration of the president’s tenure.
Vice President Yemi Osinbajo also get allowances such as a motor vehicle, feeding and maintenance, special assistant, personal assistant, domestic staff, entertainment utility, security, newspaper and periodicals.
The VP’s hardship, consistency, severance gratuity and leave allowance are at ₦1, 515, 786.25; ₦7, 578, 931.25; ₦9, 094, 717.50 and ₦303, 157.25 respectively.
Osinbajo will also receive a motor vehicle loan at 400 per cent of his basic salary which is ₦12, 126, 290; to be repaid at the expiration of his tenure.
When all those allowances payable each month are added, President Buhari’s take-home pay for each month will be ₦1, 171,568.33, and ₦14, 058, 820.00 per annum. Whereas Vice President Osinbajo will go home with ₦1, 010, 524. 17 monthly, and ₦12, 126,290.00 yearly.
Wrap Up
So now you have all the information you need to know about the salary of Nigeria’s President. Do you now understand its impact on budgeting and public spending? This post has surely gotten you access to updated details and analysis regarding past pay decisions.
President Buhari’s salary and allowances breakdown was given by the Revenue Mobilisation Allocation and Fiscal Commission which is empowered by section 32(d) of Part1 of the Third Schedule of the Nigeria Constitution to determine the revenue suitable for political office holders. That’s the current salary structure and allowances as fixed by the RMAFC in 2007.
