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.
Buhari and Osinbajo will earn annual basic salaries of N3, 514, 705 and N3, 031, 572.50 respectively.
Apart from salaries, the president is entitled to 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 that will be provided by government and not paid for includes; motor vehicle fueling and maintenance, special assistant, personal assistant, domestic staff, entertainment, utilities, security, Newspapers and periodicals, accommodation, furniture, and duty tour allowance (per night) as well as medical allowances, which are also to be provided as requested.
The president and his vice are not paid furniture allowance as they are already provided for, while allowances on travels will be on demand
President Buhari will take home N1, 171,568.33 each month and N14, 058, 820.00 yearly if all the allowances are added up, while Osinbajo will receive N1, 010, 524. 17 monthly and N12, 126,290.00 annually.
Also, Buhari's severance gratuity is valued at N10, 544, 115, which is 300 per cent of basic. The retired general is reported to be 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 that are provided for Buhari and his hardship, consistency, severance gratuity and leave allowance are set at N1, 515, 786.25; N7, 578, 931.25; N9, 094, 717.50 and N303, 157.25 respectively.
The professor will also receive a motor vehicle loan at 400 per cent of his basic salary which is N12, 126, 290; also to be repaid at the expiration of his tenure.
The salaries and allowances are drawn from the Consolidated Revenue Fund and fixed by the RMAFC in 2007, Premium Times reports.
Meanwhile, the Kaduna State Governor, Nasir El-Rufai, on Friday, May 29, stated that, he would reduce his own salary and that of his deputy, Mr Barnabas Bala, by 50% until the economic situation in the state improve.
Should Buhari and Osinbajo follow suit?