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Official Salary Of The Nigerian President: Average Pay Per Month

The role of the President of Nigeria is one of the most significant and high-profile jobs in the country. As the head of state and commander-in-chief of the armed forces, the president has immense responsibility, from guiding the country’s policies to ensuring security and prosperity for the citizens. Given the critical nature of this position, many people are curious about how much the president earns in salary. In this blog post, we will explore the official salary of the Nigerian president, the benefits that come with the office, and other perks that contribute to the overall compensation package.

How Much Does the Nigerian President Earn?

The salary of the Nigerian president is set by the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC). This agency is responsible for determining the salaries and allowances of political office holders in Nigeria, including the president, vice president, governors, and members of the National Assembly. The salary structure for public office holders is publicly available, ensuring transparency.

As of the latest information, the Nigerian president’s annual salary is approximately ₦14 million. This means that the monthly salary of the president is around ₦1.17 million. While this might seem like a significant sum, it’s important to note that it is only the basic salary, and the president receives several other allowances and perks.

Breakdown of the President’s Salary

The president’s salary is divided into different categories. Here’s a breakdown of the key components:

• Basic Salary: The basic salary of the president is approximately ₦3.5 million per year. This amounts to about ₦292,000 per month. The basic salary is the fixed part of the president’s pay.
• Hardship Allowance: The president also receives a hardship allowance, which is set at 50% of the basic salary. This allowance is meant to compensate for the demanding nature of the job. The hardship allowance adds up to around ₦1.75 million per year, or ₦145,000 per month.
• Constituency Allowance: In addition to the hardship allowance, the president receives a constituency allowance, which is set at 250% of the basic salary. This allowance amounts to around ₦8.79 million per year, or approximately ₦732,000 per month.

Total Monthly Pay of the Nigerian President

When we add up the basic salary, hardship allowance, and constituency allowance, the Nigerian president’s official monthly pay comes to around ₦1.17 million. However, this does not include other benefits and perks that significantly increase the overall compensation package.

Additional Allowances and Benefits

Apart from the official salary, the Nigerian president enjoys several allowances and benefits that contribute to a comfortable and luxurious lifestyle. These allowances cover different aspects of the president’s life, from housing to travel and medical care. Some of the key allowances and benefits include:

• Furniture Allowance: The president receives a furniture allowance, which is paid once every four years. This allowance is set at 300% of the basic salary, amounting to around ₦10.5 million.
• Vehicle Allowance: The Nigerian president is entitled to a vehicle allowance, which covers the cost of maintaining an official fleet of cars. This allowance is also paid every four years.
• Medical Allowance: The president and their immediate family receive comprehensive medical care, both within Nigeria and abroad. The cost of medical care is fully covered by the government, and there is no specific cap on this allowance.
• Security Allowance: As the commander-in-chief, the president’s security is a top priority. The president has access to a personal security detail, which includes members of the Nigerian Armed Forces, the State Security Service (SSS), and the Nigerian Police Force. The cost of providing security is borne by the state.
• Travel Allowance: The president is entitled to a travel allowance that covers both local and international trips. This includes the cost of travel, accommodation, and other related expenses. The president travels in a fleet of private jets owned by the Nigerian government, and all expenses related to official trips are fully funded by the government.

• Estacode Allowance: When the president travels outside Nigeria on official duties, they receive an estacode allowance to cover additional expenses. This allowance varies depending on the destination and the length of the trip.

• Housing Allowance: Although the president lives in the Aso Rock Presidential Villa, an official residence, they also receive a housing allowance, which is 200% of the basic salary. This amounts to around ₦7 million over four years.

Other Perks of Being the President of Nigeria

In addition to the official salary and allowances, there are several other perks that come with being the president of Nigeria. These perks are not part of the formal compensation package but are significant benefits that contribute to the overall lifestyle of the president.

• Presidential Villa: The president lives in the luxurious Aso Rock Presidential Villa, located in Abuja. This sprawling estate is equipped with state-of-the-art facilities, including private offices, meeting rooms, a banquet hall, and more. The president and their family enjoy the highest level of comfort and security within the villa.

• Private Jets: The Nigerian president has access to a fleet of private jets, which are used for both domestic and international travel. These jets are part of the Nigerian Air Force and are available for the president’s exclusive use.

• Official Vehicles: The president has access to a fleet of official vehicles, which include luxury cars and armored vehicles. These vehicles are maintained by the government and are used for official purposes.

• State Banquets and Functions: The president regularly hosts state banquets and official functions, which are fully funded by the government. These events are often attended by top government officials, diplomats, and foreign dignitaries.

Conclusion

The official salary of the Nigerian president is around ₦1.17 million per month, but when you factor in allowances, benefits, and perks, the overall compensation package is much higher. The president enjoys a luxurious lifestyle, with access to private jets, official vehicles, and a secure residence at Aso Rock. While the salary may seem modest compared to the responsibilities of the office, the additional allowances and perks provide the president with a comfortable life.

As the leader of Africa’s most populous nation, the Nigerian president’s earnings reflect the importance and demands of the role, with compensation that includes not just salary but a wide range of benefits designed to support the president in their duties.