Salary Of Nigerian President: Are you here because you want to know what the presidents of Nigeria earn monthly or annually? If your answer is yes, we have everything you need to know. Interestingly, in this article, you will get to know virtually all you need to know about the salaries of Nigerian presidents.
Keep reading below and please don’t forget to share it with your friends and loved ones so that they will also get to learn about it.
President Of Nigeria
According to Wikipedia, the president of the Federal Republic of Nigeria is the head of state and head of government of the Federal Republic of Nigeria. The president of Nigeria is additionally referred to as the commander-in-chief of the Nigerian Armed Forces.
Yes, he/she is the president is elected in national elections which take place every four years.
The offices, powers, and titles of the head of state and the head of government were officially merged into the office of the presidency under the 1979 Constitution of Nigeria.
Like every other president of the world, the president of Nigeria also has set down functions. Below are the functions of the Nigerian president. The functions outlined below and according to wikipedia.
Functions of the President of Nigeria
As we all know, the president has the powers entrusted by the Constitution and legislation, including those necessary to perform the functions of head of state and head of the national executive.
The president of Nigeria is responsible for:
- Assenting to and signing bills
- Referring a bill back to the National Assembly for reconsideration of the bill’s constitutionality
- Referring a bill to the Supreme Court for a decision on the bill’s constitutionality
- Summoning the National Assembly or Parliament to an extraordinary sitting to conduct special business
- Making any appointments that the Constitution or legislation requires the president to make, other than as head of the national executive
- Appointing commissions of inquiry
- Appointing the Supreme Court justices of Nigeria on the recommendation of the National
- Judicial Council of Nigeria and subject to confirmation by the Senate
- Calling a national referendum in terms of an act of Parliament
- Receiving and recognising foreign diplomatic and consular representatives
- Appointing ambassadors, plenipotentiaries, and diplomatic and consular representatives and other federal officers with the advice and consent of a majority of the Senate
- Pardoning or reprieving offenders and remitting any fines, penalties or forfeitures
- Conferring honours.
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Not every person is eligible to become the president of Nigeria. Interestingly, before one can become the president of Nigeria, there are certain qualifications the person need to satisfy.
Yes, we have outlined below the qualities a person can meet before he or she can be given the office of the president of Nigeria. The qualities outlined below are according to the ones given by Wikipedia.
President Of Nigeria Eligibility
Chapter VI, Part I, Section 131 of the constitution states that a person may be qualified for election of the office of the president if:
- They are a citizen of Nigeria by birth;
- They have attained the age of 35 years;
- They are a member of a political party and is sponsored by that political party;
- They have been educated up to at least School Certificate level or its equivalent.
A person who meets the above qualifications is still disqualified from holding the office of the president if:
- They have voluntarily acquired the citizenship of a country other than Nigeria (except in such cases as may be prescribed by the National Assembly) or they have made a declaration of allegiance to such other country;
- They have been elected to such office at any two previous elections;
under the law in any part of Nigeria, They are adjudged to be a lunatic or otherwise declared to be of unsound mind; - They are under a sentence of death imposed by any competent court of law or tribunal in Nigeria or a sentence of imprisonment or fine for any offence involving dishonesty or fraud or for any other offence, imposed on them by any court or tribunal or substituted by a competent authority for any other sentence imposed on them by such a court of tribunal;
- within a period of less than ten years before the date of the election to the office of President they have been convicted and sentenced for an offence involving dishonesty or they have been found guilty of the contravention of the Code of Conduct;
- They are an undischarged bankrupt, having been adjudged or otherwise declared bankrupt under any law in force in Nigeria or any other country;
- being a person employed in the civil or public service of the Federation or of any State, they have not resigned, withdrawn or retired from the employment at least thirty days before the date of the election; or
- They are a member of any secret society;
- They have been indicted for embezzlement or fraud by a Judicial Commission of Inquiry or an Administrative Panel of Inquiry or a Tribunal set up under the Tribunals of Inquiry Act, a Tribunals of Inquiry law or any other law by the federal or state government which indictment has been accepted by the federal or state government respectively;
- They have presented a forged certificate to the Independent National Electoral Commission.
There is one other thing you need to know about the office of the president of Nigeria. Yes, the Oath of office of the president of Nigeria.
Oath of office Of Nigerian President
For those of us that would want to know, the Constitution of Nigeria specifies an oath of office for the president of the federation.
Yes, the oath is administered by the chief justice of the Supreme Court of Nigeria or the person for the time being appointed to exercise the functions of that office:
I do solemnly swear/affirm that I will be faithful and bear true allegiance to the Federal Republic of Nigeria;
that as President of the Federal Republic of Nigeria, I will discharge my duties to the best of my ability, faithfully and in accordance with the Constitution of the Federal Republic of Nigeria and the law, and always in the interest of the sovereignty, integrity, solidarity, well-being and prosperity of the Federal Republic of Nigeria;
that I will strive to preserve the Fundamental Objectives and Directive Principles of State Policy contained in the Constitution of the Federal Republic of Nigeria; that I will not allow my personal interest to influence my official conduct or my official decisions;
that I will to the best of my ability preserve, protect and defend the Constitution of the Federal Republic of Nigeria; that I will abide by the Code of Conduct contained in the Fifth Schedule to the Constitution of the Federal Republic of Nigeria;
that in all circumstances, I will do right to all manner of people, according to law, without fear or favour, affection or ill-will;
that I will not directly or indirectly communicate or reveal to any person any matter which shall be brought under my consideration or shall become known to me as President of the Federal Republic of Nigeria, except as may be required for the due discharge of my duties as President;
and that I will devote myself to the service and well-being of the people of Nigeria. So help me God.
Salary Of Nigerian President
Let me spell it out here that this article covers the Nigeria’s President Salary Structure for the year 2020. Below are the most recent monthly earnings of President Muhammed Buhari and VP Yemi Osinbajo.
The president and vice president’s salary structure will be discussed in today’s guide. SO if you’ve been wondering what the number 1 citizen of Nigeria earns, you’ve stumbled upon the right guide.
Nigeria’s President Muhammadu Buhari and his Vice, Prof Yemi Osinbajo according to the Revenue Mobilisation Allocation and Fiscal Commission is to receive a combined sum of N26.18 million ($73,000) per annum as take-home pay. Splitting this between the two leaders gives a sum of ₦14 million and ₦12 million earned annually by the president and his Vice respectively.
Nigeria’s President Salary Structure 2020
As we indicated earlier, this salary breakdown was made public by the Revenue Mobilization Allocation and Fiscal Commission (RMAFC), a commission empowered by section 32(d) of Part1 of the Third Schedule of the Constitution to determine the revenue suitable for the holders of top political offices.
I know most people will wonder that this salary is small, however, aside this basic salary, the President of Nigeria is also entitled to several allowances including; Hardship allowance, constitutes 50% of his salary, N1, 757,350.50, consistency allowance making 250% of his salary, N8, 786,762.50.
Also, the president is entitled to gratuity which is N10, 544,115, which makes 300% of his salary, leave allowance which makes 10% of his salary, 351, 470.50 and then vehicle loan which makes 400% of the salary i.e 14, 058,820 which is to be repaid before the president’s tenure expires.
Those are not the only set of allowances as he is entitled to other allowances like the Personal assistant, constituency, vehicle fueling and maintenance, domestic staff, entertainment, recess, newspaper/periodicals, utilities, houses maintenance, security, special assistant, furniture, wardrobe, duty tour, accommodation, estacode, medical allowances, etc.
This is the breakdown of the president’s salary and other benefits attached to the office. Next, we will move to detail the vice president’s breakdown.
The Vice President of Nigeria, Prof. Yemi Osibanjo also gets a Hardship allowance of N1, 515,786.25, a consistency allowance of N7, 578,931.25, gratuity package of N9, 094,717.50, and then a leave allowance of N303,157.25. Those are the basic salary and allowances which still has some other benefits attached. He also receives a vehicle loan which makes 400% of his basic salary, N12, 126,290 which is also to be repaid before the tenure expires like the president.
With all the allowances and salary, here is the total package received by both ladies yearly.
President Buhari will earn N1, 171,568.33 monthly, summed to N14, 058,820 yearly. The vice president likewise earns N1, 010,524.17 monthly, and N12, 126,290 yearly.
The assessment used in this guide is the reviewed salary structure carried out by the Revenue Mobilization Allocation and Fiscal Commission (RMAFC) in 2007. The reassessment was done right after the salary structure allowances for holders of top federal public offices were reviewed.
This took effect on 1st May 2000 after the administration of Olusegun Obasanjo.
That is it on Salary Of Nigerian President – Everything You Need To Know. I hope this article was helpful. Kindly share it with your friends and loved ones!!!