Salary and Allowance of Nigerian Vice President as Approved by FG

• The Nigerian Vice President's salary and allowances total ₦12,126,290 annually, with monthly earnings of ₦1,010,524, combining a basic salary and various benefits
• Key components include a hardship allowance (₦1,515,786.25 annually) and a consistency allowance (₦7,578,931.25 annually), ensuring adequate support for the Vice President's responsibilities
• Other allowances, such as those for utilities, security, and domestic staff, enhance the financial framework supporting this high-ranking office

The Federal Government of Nigeria has provided a detailed disclosure of the salary and allowances of the Vice President, shedding light on the financial structure supporting this high-ranking office.

The Vice President’s annual basic salary and allowance was recorded as ₦12,126,290, which corresponds to a monthly payment of ₦1,010,524, according to revenue mobilization allocation and fiscal commision, a government agency.

The Vice President’s annual basic salary was recorded as ₦3,031,572.50, which corresponds to a monthly payment of ₦252,631.04.

This foundational salary forms the core of the Vice President’s remuneration, which is further supplemented by a range of allowances designed to ensure the effective discharge of their duties.

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Comprehensive breakdown of allowances

In addition to the basic salary, the Vice President is entitled to a hardship allowance, valued at 50% of the annual basic salary.

This translates to an annual sum of ₦1,515,786.25 or a monthly payment of ₦126,315.52, reflecting the demanding nature of the responsibilities attached to the office. The most substantial component of the Vice President’s earnings is the consistency allowance, amounting to 250% of the annual basic salary.

This represents an annual figure of ₦7,578,931.25, equating to a significant monthly payment of ₦631,577.60, highlighting its importance in providing consistent support for the Vice President’s role.

Additionally, several allowances are provided to cater to various professional and personal needs, although their specific monetary values were not disclosed.

These allowances include provisions for motor vehicle fueling and maintenance, ensuring the Vice President has reliable transportation for official engagements.

Support for special assistants and personal assistants is also included, aimed at maintaining efficient administrative operations and enhancing the effectiveness of the Vice President’s office.

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Other notable allowances cater to domestic staff, entertainment, and utilities, ensuring the Vice President has adequate support for household management and the smooth running of daily operations.

Security allowances are also part of the package, depicting the need for personal safety and protection in this high-profile role.

Lastly, an allowance for newspapers and periodicals ensures that the Vice President stays informed about key developments both locally and globally, enabling informed decision-making.

High cost of governance

Speaking with Legit.ng, Hafsat Muhammad Bello, a public analyst based in Kano argued that there was need for a holistic review of governance in Nigeria:

“I have consistently spoken out against the high cost of governance in this country. As an observer who has closely followed this trend, it is disheartening to see the vast sums of money being spent on running the government, with such minimal benefit to show for it. Many may argue that democracy is inherently expensive, but for it to remain relevant, it must be effective. Take the United States, for example—where the dividends of democracy are evident. The effectiveness of their system is reflected in steady water supplies, quality schools, and reliable hospitals. There is an urgent need for a thorough review of the structure of governance in Nigeria.”

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Salaries of Nigerian president and governors

Legit.ng earlier reported that the President of Nigeria earns an annual salary of ₦14,058,820, translating to a monthly income of ₦1,171,568, while state governors receive ₦7,782,968 annually, or ₦648,581 monthly, according to data available on RMAFC, a government agency.

These figures were disclosed by Muhammed Shehu, Chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), in an interview.

Source: Legit.ng