Nigeria President Salary Breakdown 2024 Updated

Nigeria president salary

Nigeria President Salary Breakdown 2024 Updated

Nigeria President Salary Breakdown 2024. Maybe you have always been curious, desiring to know how much the president of Nigeria is being paid monthly. In this article, we will ease your curiosity. More information about the Nigeria President Salary Breakdown 2024 will be revealed in this article. Keep reading the piece for more information on the subject.

Ever wondered how much the president of Nigeria earns on a monthly basis? Do you desire to know the salary breakdown of the Bogeriuan president? This article will answer all your questions regarding the Nigeria President Salary Breakdown 2024

It is enshrined in the constitution of Nigeria that the President of the Federal Republic of Nigeria is the number one and first citizen of the country. It is also important to note that the president of the federal republic of Nigeria receives the highest salary in the country. 

Aside from receiving the greatest salary in the country, the president of the federal republic of Nigeria is also entitled to other exciting and luxurious allowances. In this article, we will give a breakdown of the monthly salary of the president of the federal republic of Nigeria with other allowances he receives.

The Office of Mr. President

The office of the president of the federation was established,  according to Section 130 of the Constitution of the Federal Republic of Nigeria (1999) as Amended. 

Subsection two of Section 130 of the Constitution of the Federal Republic of Nigeria as amended states that “the president shall be the Head of State, the Chief Executive of the Federation and Commander-in-Chief of the Armed Forces of the Federation. 

Now let’s get to know how much the president of Nigeria is paid on a monthly basis. In addition, we will also uncover the salary structure of the vice presidents of the country. 

Nigerian President’s Salary Structure

Before now, the president of the federal republic of Nigeria was paid  14 million Naira every year. But when President Muhammadu Buhari came to power, the annual salary was increased to about  N28 million yearly. 

This increment posed a lot of expenditure in the county’s economy. In an effort to reduce the expense of governance, President Muhammadu Buhari opted that his salary be slashed by 50 percent amounting to a 14 million yearly salary which was the initial payment. 

That is, the Nigerian president receives a total salary of 14 million Niaira yearly as against the initial 28 million Naira annual payment.

The 14 million Naira annual payment includes the various allowances the president is entitled to which is discussed in this article. 

According to a source, the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) set the president’s and vice president’s yearly basic salaries at N3,514,705 and N3,031,572.50, respectively.

To further break their yearly salary into a monthly basis, it amounts to N292,892.08 and N252,631 per month for the vice president and vice president respectively.

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC)  is entitled to disclose the President’s and vice president’s salaries online through their official website.

 

The Nigerian President Salary Allowances

Apart from the annual basic salary that the president and his vice president earn, 

Consistency allowance

The consistency allowance constitutes about 250% of the total annual salary, which is about ₦8,786,762.50.

Hardship Allowance

Hardship allowance is about 50 percent of the basic annual salary of the president of Nigeria which is around ₦1,757,350.50. The president gets compensated for alleviating poverty and promoting the standard of living in the country.

Constituent Allowance

This is  250% of the basic annual salary which is about ₦8,786,762.4.

Duty tour allowance

This is determined by the president and where he wishes to travel for the good of the country

Leave allowance

This entitlement is 10% of the president’s basic salary and it amounts to a total of ₦351,470.496. 

Optional vehicle loan

This is one of the largest allowances a president of Nigeria is entitled to. This allowance comes with a loan strength of about %400 of the president’s basic salary which is about  ₦14,058,819.84. 

Severance gratuities

The president receives %300 severance gratuities upon the completion of his tenure and this amounts to ₦10,544,114.88.

What makes the office of the president of the federal republic of Nigeria more enticing is the great benefits and huge salary structure. 

NERC Salary Structure

Civil Defense Ranks and Salary 

National Directorate of Employment Form, Salary

FRSC Ranks and Salary 

Nigerian Police Ranks and Salary 

Nigerian Navy Salary

Please note that the above breakdown is subject to change according to the budget, the economy of the country, or the other financial institutions in the country.

I  hope you find this article useful. We will update this page as soon as a review of the president’s salary structure is posted.

For you not to miss out on our updates about the Nigeria President Salary Breakdown 2023, we advise you to visit this page frequently or activate the push notification in order to be notified anytime we post an update about the Nigeria President Salary Breakdown.

Do you have any further inquiries to make? You can reach us via the comment section below.

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    Recruitment Portfolio is Nigeria's premier blog and job portal dedicated to delivering the latest insights and updates from the recruitment and job sector. At Recruitment Portfolio (RP), we take pride in our pivotal role as the country's leading source for all things related to employment. Our mission is to bridge the gap between job seekers and employers, fostering meaningful connections that positively impact the lives of Nigerians. Why choose Recruitment Portfolio?

    1. 📰 Stay Informed RP is your go-to destination for up-to-the-minute information on the ever-evolving recruitment landscape. From industry trends to insider tips, we've got you covered.
    2. 🤝 Connecting Talent with Opportunit: We go beyond being a blog; we are facilitators of connections. RP actively links skilled job seekers with reputable employers, ensuring a mutually beneficial partnership that transforms lives.
    3. 🌍 National Impact Our commitment extends beyond individual success stories. By facilitating employment opportunities, we contribute to the growth and prosperity of Nigeria as a whole.
    JOIN OUR COMMUNITY

About admin 152 Articles
Recruitment Portfolio is Nigeria's premier blog and job portal dedicated to delivering the latest insights and updates from the recruitment and job sector. At Recruitment Portfolio (RP), we take pride in our pivotal role as the country's leading source for all things related to employment. Our mission is to bridge the gap between job seekers and employers, fostering meaningful connections that positively impact the lives of Nigerians. Why choose Recruitment Portfolio?
  1. 📰 Stay Informed RP is your go-to destination for up-to-the-minute information on the ever-evolving recruitment landscape. From industry trends to insider tips, we've got you covered.
  2. 🤝 Connecting Talent with Opportunit: We go beyond being a blog; we are facilitators of connections. RP actively links skilled job seekers with reputable employers, ensuring a mutually beneficial partnership that transforms lives.
  3. 🌍 National Impact Our commitment extends beyond individual success stories. By facilitating employment opportunities, we contribute to the growth and prosperity of Nigeria as a whole.
JOIN OUR COMMUNITY

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