According to the report made public by this government agency, Nigeria President Salary Structure – Buhari will earn annual basic salaries of N3, 514, 705, while the Vice President, Osinbajo will earn N3, 031, 572.50 on annual basis.
The Nigeria President Salary Structure breakdown was made public by the Revenue Mobilization Allocation and Fiscal Commission, which is empowered by section 32(d) of Part1 of the Third Schedule of the Constitution which determines the revenue that suitable for the holders of political office.
List Of Nigeria President Allowances
The President is also entitled to various regular allowances apart from his basic salary in accordance to the constitution of the Federal Republic of Nigeria. Some of the said allowances are as follows:
- Hardship allowance, which will represent up to 50 percent of the basic salary and the amounts stands at N1, 757, 350.50 per annum
- Consistency allowance, which will represent up to 250 percent of his basic salary and the amount stands at N8, 786, 762.50.
There are several other allowances aside from the ones mentioned above and they are highlighted below:
- Motor vehicle fuelling and maintenance allowance
- Special assistant allowance
- Personal assistant allowance
- Domestic staff allowance
- Entertainment allowance
- Utilities allowance
- Security allowance
- Newspapers and periodicals allowance
- Accommodation allowance
- Furniture allowance
- Duty tour allowance. This is paid per night and total amount to be paid is determined by how many nights the president spends on such duty tour.
- This is also paid per night
- Medical allowances
After adding up all allowances mentioned above have been added up,Nigeria President will earn a total of N1, 171,568.33 every month as president of Nigeria, while his total annual take home pay will be N14, 058, 820.00. This is in addition to his basic salary as president.
As for the Vice President will be paid a total amount of N1, 010, 524.17 every monthly. This amounts to a total of N12, 126,290.00 on annual basis.
Nigeria President Salary Structure:
- The president will be paid severance gratuity once he ends his tenure as president after 4 years or 8 years in office as the case may be. The total severance gratuity is N10, 544, 115. This amount represents up to 300 percent of what the president earns as basic salary.
- The president is also entitled to be paid leave allowance and that will amount to a total of N351, 470. 50. This amount represents 10 percent of what the president earns as his basic salary.
- President Buhari is equally paid optional motor vehicle loan. He can decide to take the loan or not, depending on his discretion. You can read here How to use my car as collateral for a loan? – Premium Car Title Loans full information.
- The total amount released to the president as car loan is N14, 058, 820. This amount represents a total of 400 percent of what he earns as basic salary. The car loan is paid only once all through his tenure as president. However, he is expected to pay back the money once his tenure expires. comprehensive car refinancing guide will assist you find the simplest auto refinance package for you. Included are the important steps needed to require to know automobile loan refinancing and what you ought to know if they’re considering refinancing your automobile loan . This site was designed to assist with decisions regarding finance and the way you’ll work along side a nondepository financial institution to seek out the simplest option for you. After receiving e-mail from disgruntled people that want help to urge out of their current situation with a nondepository financial institution , we decided to feature information regarding these issues. Only recently are people becoming aware that they do not need to put up with finance companies astronomical fees and may save themselves thousands of dollars by refinancing an automobile loan.
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Nigeria Vice President Salary Structure
- Motor vehicle allowance, which amounts to N12, 126, 290
- Feeding and maintenance allowance
- Special assistant allowance
- Personal assistant allowance
- Domestic staff allowance
- Entertainment utility allowance
- Security allowance
- Newspaper and periodicals allowance
- Hardship allowance
- Consistency allowance
- Severance gratuity
- Leave allowance.
The former president’s basic annual salary was set at N2,586,000 per annum. On the other hand, his Vice, Atiku Abubakar, was earning a total of N1,938,000.
The same structure was used in preparing the annual take-home pay of the Chief Justice of Nigeria and the Senate President.
