This post shows you Nigeria’s President Salary Structure for the current year 2020. Below are the most recent monthly earnings of President Muhammed Buhari and VP Yemi Osinbajo. Salary Of Nigerian President
The president and vice president’s salary structure will be discussed in today’s guide. SO if you’ve been wondering what the number 1 citizen of Nigeria earns, you’ve stumbled upon the right guide.
Nigeria’s President Muhammadu Buhari and his Vice, Prof Yemi Osinbajo according to the Revenue Mobilisation Allocation and Fiscal Commission is to receive a combined sum of N26.18 million ($73,000) per annum as take-home pay. Splitting this between the two leaders gives a sum of ₦14 million and ₦12 million earned annually by the president and his Vice respectively.
Nigeria’s President Salary Structure 2020
As we indicated earlier, this salary breakdown was made public by the Revenue Mobilization Allocation and Fiscal Commission (RMAFC), a commission empowered by section 32(d) of Part1 of the Third Schedule of the Constitution to determine the revenue suitable for the holders of top political offices.
I know most people will wonder that this salary is small, however, aside this basic salary, the President of Nigeria is also entitled to several allowances including; Hardship allowance, constitutes 50% of his salary, N1, 757,350.50, consistency allowance making 250% of his salary, N8, 786,762.50.
Also, the president is entitled to gratuity which is N10, 544,115, which makes 300% of his salary, leave allowance which makes 10% of his salary, 351, 470.50 and then vehicle loan which makes 400% of the salary i.e 14, 058,820 which is to be repaid before the president’s tenure expires.
Those are not the only set of allowances as he is entitled to other allowances like the Personal assistant, constituency, vehicle fueling and maintenance, domestic staff, entertainment, recess, newspaper/periodicals, utilities, houses maintenance, security, special assistant, furniture, wardrobe, duty tour, accommodation, estacode, medical allowances, etc.
This is the breakdown of the president’s salary and other benefits attached to the office. Next, we will move to detail the vice president’s breakdown.
The Vice President of Nigeria, Prof. Yemi Osibanjo also gets a Hardship allowance of N1, 515,786.25, a consistency allowance of N7, 578,931.25, gratuity package of N9, 094,717.50, and then a leave allowance of N303,157.25. Those are the basic salary and allowances which still has some other benefits attached. He also receives a vehicle loan which makes 400% of his basic salary, N12, 126,290 which is also to be repaid before the tenure expires like the president.
With all the allowances and salary, here is the total package received by both ladies yearly.
President Buhari will earn N1, 171,568.33 monthly, summed to N14, 058,820 yearly. The vice president likewise earns N1, 010,524.17 monthly, and N12, 126,290 yearly.
The assessment used in this guide is the reviewed salary structure carried out by the Revenue Mobilization Allocation and Fiscal Commission (RMAFC) in 2007. The reassessment was done right after the salary structure allowances for holders of top federal public offices were reviewed.
This took effect on 1st May 2000 after the administration of Olusegun Obasanjo.
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