Buhari, VP, ministers, lawmakers, others earn N9.18bn yearly

Twelve months after the Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC) pledged to give the nation reviewed salaries and allowances for political office holders, lawmakers and key government officials still cart home about N9.18bn annually in salaries and allowances.

Investigation show that while RMAFC had completed work on the review of the emoluments of political office holders about November 2015, the new emoluments have not seen the light of the day due to the politics involved in the process.

As a result, key political office holders still earn the full packages they earned before the decision to reduce the earnings of political and judicial office holders. The annualised salary and allowances of the president is N14,058,820, while that of the vice-president is N12,126,290.

President Muhammadu Buhari and Vice-President Yemi Osinbajo had announced their decision to take only 50 per cent of the salary and allowances approved for them, meaning that they take home N7,029,410 and N6,063,145 respectively.

However, most of the allowances and entitlements of the President and Vice-President are not monetised but fully provided by the state. Apart from salary, the regular allowances that are monetised for the President are only hardship allowance, N1,757,350.50 per annum; and consistency allowance, N8,786,762.50 per annum.

For the Vice-President, the hardship allowance is N1,515,786.25 per annum, while the consistency allowance is N7, 578,931.25 per annum.

The irregular allowances for the President are the severance allowance – 300 per cent of the annual salary or N10,544,115 – and leave allowance – 10 per cent of the annual salary or N351,470.50.

The irregular allowances of the Vice-President are the severance allowance – 300 per cent of the annual salary or N9, 094,717.50 – and leave allowance – 10 per cent of the annual salary or N303,157.25.

September 19, Punch

 

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