Buhari and Osinbajo will earn annual basic salaries of N3, 514, 705 and N3, 031, 572.50 respectively.
According to pulse.ng......The salary breakdown of Nigeria’s new President, Muhammadu Buhari, and his deputy, Yemi Osinbajo, has been made public.
The
Revenue Mobilization Allocation and Fiscal Commission (RMAFC), which 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, published the information on its website.
Buhari and Osinbajo will earn annual basic salaries of N3, 514, 705 and N3, 031, 572.50 respectively.
The
President is also entitled to various regular allowances apart from his
basic salary, such as; 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.
After adding up all allowances, Buhari will earn N1, 171,568.33 and and N14, 058, 820.00 yearly.
As for the Vice President, Osinbajo, he will earn N1, 010, 524.17 monthly, and N12, 126,290.00 in a year.
Breakdown down of allowances:
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.
In addition to allowances
like; motor vehicle, feeding and maintenance, special assistant,
personal assistant, domestic staff, entertainment utility, security,
newspaper and periodicals; Osinbajo will also get Hardship, Consistency,
Severance gratuity and Leave allowance set at N1, 515, 786.25; N7, 578,
931.25; N9, 094, 717.50 and N303, 157.25 respectively.
He
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.
The RMAFC reviewed the salary structure in
2007, following the salary structure review and associated allowances
for the top federal public office holders earlier carried out by the
National Salaries and Wages Commission, which took effect on May 1, 2000
– after the Olusegun Obasanjo administration.
The former president’s basic annual salary was N2,586,000 per annum, while that of his deputy, Atiku Abubakar was N1,938,000, the same as that of the Chief Justice of Nigeria and the Senate President.
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