Nigeria’s President, Muhammadu Buhari is to earn a basic salary of N3,514,705 million per month, translating to approximately N14 million naira per annum .
Likewise his Vice-President, Prof. Yemi Osibanjo is to earn N3,031,572.50 each month.
This was revealed by the website of the Revenue Mobilization Allocation and Fiscal Commission, a body statutorily empowered by Section 32 (d) of Part 1 of the Third Schedule of the Constitution to determine the renumeration appropriate for political office holders.
The President is also entitled to various regular allowances like: Hardship, 50 percent of the basic salary – N1,757,350.50; consistency – 250 per cent, N8,786,762.50.
Allowances such as motor vehicle fueling and maintainence, special assistant, personal assistant, domestic staff, entertainment, utilities, security and Newspapers and periodicals, accomodation, furniture, and duty tour allowance (per night), estacode (per night) and medical allowances are also to be provided as requested.
These allowances are paid periodically , some monthly, a few once in four years.
The Duty Tour Allowance and Estacode depend on travels.
The President is entitled to a severance gratuity of N10,544,115, which 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, a 400 per cent to be repaid before the expiration of the president’s tenure.
This current salary structure and allowances were fixed by the RMAFC in 2007.