There are indications that President Muhammadu Buhari has concluded plans to slash his own salary and also reduce the budget of the state house.
This is in fulfillment of the president’s campaign promise to Nigerians, the report said, adding that salaries of his aides and associates will also be reduced. It is believed that Buhari expects vice president Yemi Osinbajo and other political office holders to follow suit. The presidential Air fleet will also be reduced.
Nigeria’s new president, Muhammadu Buhari, and his deputy, Yemi Osinbajo, will earn annual basic salaries of N3, 514, 705 and N3, 031, 572.50 respectively, according to the information on the website of the Revenue Mobilization Allocation and Fiscal Commission.
The RMAFC is statutorily empowered by Section 32 (d) of Part 1 of the Third Schedule of the Constitution to determine the remuneration appropriate for political office holders. Apart from the salaries, the president is entitled to various regular 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 like motor vehicle fuelling and maintenance, special assistant, personal assistant, domestic staff, entertainment, utilities, security and Newspapers and periodicals are to be provided by the government – not paid for. Allowances like accommodation, furniture, and duty tour allowance (per night), estacode (per night) and medical allowances are also to be provided as requested. The allowances are paid periodically, some monthly, a few once in four years. Duty Tour Allowance and Estacode depend on travels. For instance, furniture allowance to other cadre of officials, like ministers and the Secretary to the Government of the Federation, is given once in four years. The President and Vice President are not paid furniture allowance as they are provided for.
When all allowances payable each month are added, President Buhari will take home N1, 171,568.33 each month, and N14, 058, 820.00 yearly. Vice President Osinbajo will receive N1, 010, 524. 17 monthly, and N12, 126,290.00 per annum.
The percentage of the budget to be slashed however wasn’t mentioned. It is believed that the president won’t appoint more than 15 advisers, all in order to reduce the cost of governance.
The president is also considering implementation of the report of the Stephen Oronsaye-led Presidential Committee on the Rationalization and Restructuring of Federal Government Parastatals, Commissions and Agencies. The report had recommended the scrapping of some governmental parastatals in the country.
