President Buhari To Earn N14 Million As Annual Salary, Allowances

Nigeria’s new president, Muhammadu Buhari, and
his deputy, Yemi Osinbajo, will earn annual basic
salaries of N3, 514, 705 and N3, 031, 572.50
respectively, according to the information on the
website of the Revenue Mobilization Allocation and
Fiscal Commission.
The RMAFC 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.
Apart from the salaries, the president is entitled to
various regular allowances like: 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.
For instance, furniture allowance to other cadre of
officials, like ministers and the Secretary to the
Government of the Federation, is given once in four
years. The President and Vice President are not
paid furniture allowance as they are provided for.
When all allowances payable each month are
added, President Buhari will take home N1,
171,568.33 each month, and N14, 058, 820.00
yearly.
Vice President Osinbajo will receive N1, 010, 524.
17 monthly, and N12, 126,290.00 per annum.
Details 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.
Mr. Osinbajo will also get allowances such as
motor vehicle, feeding and maintenance, special
assistant, personal assistant, domestic staff,
entertainment utility, security, newspaper and
periodicals.
While the number two man’s 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.
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 salaries and allowances are drawn from the
Consolidated Revenue Fund.
The current salary structure and allowances were
fixed by the RMAFC in 2007.
Before the review, the basic annual salary of the
then president, Olusegun Obasanjo, 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, both heads of the judiciary and the
legislature.
This was as a result of the review of the salary
structure and associated allowances for the top
federal public office holders earlier carried out by
the National Salaries and Wages Commission.
This followed the review of the salary structure and
associated allowances for the top federal public
office holders earlier carried out by the National
Salaries and Wages Commission.
That review, which took effect on May 1, 2000, was
contained in a memo SWC.04/S.1/Vol.1V/186
dated May 15, 2000 and signed by G.P.O. Chikelu,
the then Chairman of the Commission.