Do you have an idea about the amount the President of Nigeria and his Vice receive monthly or yearly? This post will show you the breakdown of the salary of Nigerian President, and that of his Vice. The current President of Nigeria is Muhammadu Buhari, so here you will get the breakdown of Buhari Salary, and as well as Yemi Osinbajo Salary, the vice president of Nigeria. You may also like to check the salaries of Nigeria Senators.
Presidency is a very tough and important position in all nations, and deserves to be paid well since they carryout the major tasks of a country. The President is the head of executive arm of government in Nigeria, and the rise and fall of the country lies on his or her shoulder.
Some duties of the president are;
- Requesting the law-makers to reconsider bills presented.
- Refer bills to the judiciary (Supreme Court) for constitutional decision.
- Giving appointment to Chief Justice (CJ) of the country, as stipulated by the law.
- Receives foreign visitors.
- Appointing federal officers with the knowledge of the Senate.
- Give honours (recognitions) to individuals and bodies.
Pardon offenders in the country, and so on.
The Vice President foresee, and runs the affairs of the President when he/she isn’t readily available, or gave the instruction.
The salary of the president of Nigeria was reviewed by Revenue Mobilization Allocation and Fiscal Commission (RMAFC), and they came up with the current pay. Although, the current President of the country (Muhammadu Buhari) slashes down the salary for his office and that of his Vice while assuming office. The salary they received is stated below;
The basic monthly salary of President Muhammadu Buhari is fixed at ₦1,171,568 aside several allowances including hardship allowance of ₦146,446 per month and a consistency allowance of ₦732,230 per month.
Therefore, annual basic salary of the President of Nigeria amount to Fourteen Million, Fifty-eight Thousand, Eight Hundred and Sixteen Naira
(₦14,058,816). The allowance listed below are not included in ₦14,058,816:
- P.A payment.
- S.A payment.
- Entertainment allowance, etc.
Gratuity of Nigeria President
The President of Nigeria will also be paid a special gratuity at the end of his tenure. This pay is 300 percent of his salary while serving as the president.
President Buhari’s severance gratuity is pegged at ₦10,544,115, which is the 300% of basic salary. Buhari is also entitled to a leave allowance of ₦351,470, which is the 10% of the basic salary, and an optional motor vehicle loan of ₦14,058,820, at 400% to be repaid before the expiration of the president’s tenure.
The salary of the Vice President of Nigeria which includes hardship and constituency allowances is twelve million, one hundred thousand naira (₦12,100,000) annually. Aside this payment, he also receives;
- 25% for P.As.
Just like the President, the Vice President will receive a special gratuity at the end of his tenure. Which is 300% of his basic payment.
With this elucidation, the salary of both the President and his/her Vice is now being made known to those that have been longing to have an idea of it.