The Revenue Mobilization Allocation and Fiscal Commission (RMAFC) says it has begun processes to review salaries and allowances for political, public and judicial office holders. This is contained in a statement on Wednesday in Abuja by the Head of Public Relations, RMAFC, Mr Ibrahim Mohammed.
According to the statement, the Chairman of the Commission, Mr Elias Mbam, announced this while inaugurating members of the Remuneration Committee charged with carrying out the review. Mbam said the exercise was in line with the current realities where the economy was characterized by inflation and down turn in international oil prices amongst others.
In carrying out the exercise, he urged the committee to be conscious of the prevailing economic situation and the need to reduce cost of governance, to free more funds for development.
The RMAFC website revealed that the current annual salary and other allowances of the president stood at about N14 million. That of the vice president is N12 million and ministers, N7.8 million.
