REVEALED: See What Buhari & Osinbajo Will Earn Annually

Buhari To Earn N14 Million, Osinbajo N12 Million As Annual Salary,
Allowances!
The Revenue Mobilization Allocation and Fiscal Commission has
announced on their website the amount President Muhammudu
Buhari and vice-president, Yemi Osinbajo, will be earning annually
during their four years in office.
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.