The President is the leader of the country. We will discuss the Nigeria President salary and other bonuses in this article.
The Nigerian President stands out as one of the highest-paid leaders, especially compared to several countries in the world, in particular. It may seem so problematic to the original citizen why the salary of a Nigerian president must be so huge.
Apart from the Nigerian President earning such a huge salary, other political class members are not left out as they take home salaries in large sums.
Allowances Received By Nigerian President
The Nigeria President salary also comes with some allowances and benefits. These allowances, according to the salary breakdown made by the Revenue Mobilisation Allocation and Fiscal Commission, are personal assistant allowance, constituency, vehicle fuelling/maintenance, domestic staff, entertainment, recess, newspaper/periodicals, utilities, houses maintenance, security, special assistant, furniture, wardrobe, duty tour, accommodation, estacode, and medical allowances. Let us briefly look at some of them:
Personal Assistant Allowance
The President’s personal assistant receives a quarter (25%) of his base salary, which amounts to N3,000,000.
This stipend covers the President’s daily expenses. This is equivalent to 250% of the yearly pay of N732,000 each month and over N8.7 million per year.
Vehicle and Maintenance Allowance
He is entitled to 75% of his yearly base salary for vehicles and maintenance, which is N9 million.
This stipend allows the President to take some time off from his duties. He is entitled to a leave allowance of 10% of his base salary, which amounts to N351,470.50.
The estacode allowance covers the President’s travel expenditures. The President is the sole decider of the amount provided for this allowance.
Duty Tour Allowance
The objective of this grant is to cover the cost of the President’s official travels, which are at his discretion.
What Is The Constitution`s Stand About The Salary Of The Nigerian President?
The constitution demands that a Nigerian president be entitled to a salary apart from serving the country.
The essence of the salary is ensuring that the President does not lack comfort, giving rise to corruption.
What Is The Current Salary Of The Nigerian President?
The current Annual Salary of the Nigerian President is N14. 4 million Naira.
What is the salary of the vice president of Nigeria?
A person working as a Vice President in Nigeria typically earns around 633,000 NGN per month. Salaries range from 298,000 NGN (lowest) to 1,000,000 NGN (highest).
The vice President, is paid the following allowances as highlighted below:
- Motor vehicle allowance, which amounts to N12, 126, 290
- Feeding and maintenance allowance
- Special assistant allowance
- Personal assistant allowance
- Domestic staff allowance
- Entertainment utility allowance
- Security allowance
- Newspaper and periodicals allowance
- Hardship allowance
- Consistency allowance
- Severance gratuity
- Leave allowance.
Vice President salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Comparison of Nigerian President’s Salary with some African countries.
- The President of Ghana earns GHç 348 000 annually (over $58,000).
- The President of South Africa earns R3 Million (more than $203,000)
- Kenyan President earns $72,000 per year.
- The current President of Cameroon, Paul Biya is the highest paid President in Africa who earns $610,000 per year. This makes his earnings more than what many world leaders in developed countries earn.
- The Rwandan President earns $85,000 every year.
The Nigerian President’s Salary Compared To Some Developed Nations.
- The President of the United States earns $400,000.
- The UK Prime Minister earns more than $224,000.
- Uk Prime Minister earns $224,000 every year
- The Canadian Prime Minister earns $357,800 every year.
- The Chinese President earns more than $22,000 every year.