Official Salary Structure For The Vice President Of Nigeria: Average Pay Per Month

The Vice President of Nigeria is one of the highest-ranking officials in the country, second only to the President. This position comes with substantial responsibilities, overseeing various key aspects of governance, such as representing the President in critical functions, providing strategic leadership, and coordinating the execution of government policies. As a result, the Vice President enjoys a well-compensated salary package that is structured according to Nigeria’s Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) guidelines.

Breakdown of the Vice President’s Salary

The Vice President of Nigeria, as of the latest figures, earns a total monthly salary of ₦1.01 million, which includes basic salary, hardship allowance, and consistency allowance. This salary package can be broken down into various components:

• Basic Salary: The Vice President’s basic salary stands at approximately ₦292,892 per month. This forms the foundation of his overall earnings.
• Hardship Allowance: This is an allowance granted to compensate for the pressures and challenges of the role. The Vice President receives ₦126,315 per month in hardship allowance, which is 50% of his basic salary.
• Consistency Allowance: This is a significant addition to the Vice President's salary, aimed at ensuring continuity and stability in office. The consistency allowance is set at 250% of his basic salary, bringing the monthly total to ₦631,577.

These figures bring the Vice President's total take-home pay to approximately ₦1.01 million per month.

Additional Benefits and Allowances

Apart from the salary, the Vice President is entitled to a range of other allowances and perks, which include:

• Accommodation Allowance: This covers the cost of housing for the Vice President. While the exact monthly figure is not disclosed, it forms a significant part of the benefits package.
• Furniture Allowance: The Vice President receives an allowance for furniture, which is paid once every four years.
• Duty Tour Allowance: Whenever the Vice President travels for official duties within the country, a per diem is allocated for the expenses incurred during such trips.
• Medical Allowance: The Vice President is entitled to medical care, both within and outside the country, covered by the government. This benefit ensures that the Vice President can receive the best medical attention whenever necessary.
• Estacode (Foreign Duty Allowance): For international assignments, the Vice President receives $900 per night in estacode, which covers accommodation, meals, and other expenses during foreign trips.

Loans and Retirement Benefits

The Vice President can also access loans, such as:

• Motor Vehicle Loan: The Vice President is eligible for a vehicle loan that is 400% of the annual basic salary. This loan is repayable over the course of the Vice President's tenure.
• Severance Gratuity: After completing a successful term in office, the Vice President is entitled to a 300% severance gratuity based on his annual salary. This is a one-time payment given at the end of the term.

Comparative Insights: Nigerian Public Service Salary Structure

It’s important to compare the Vice President's salary with other public office holders to fully understand its context within Nigeria's remuneration system. The Vice President earns slightly less than the President, whose total salary package stands at ₦1.17 million per month. Meanwhile, state governors earn about ₦649,000 monthly, with their deputies receiving ₦616,000 monthly.

However, the salary and allowances of the Vice President, like other top political office holders, go far beyond just monthly earnings. The various allowances, coupled with benefits such as accommodation, medical coverage, and international duty allowances, make the total remuneration package quite substantial.

Rationale Behind the Pay Structure

The salary structure for the Vice President, like other top public office holders, is set by the RMAFC and is designed to reflect the high responsibilities associated with the role. It is also meant to attract and retain individuals with the capability and experience necessary for such high offices. The various allowances further compensate for the demands, risks, and unique pressures that come with managing a top-level government position.

Controversy and Public Perception

The compensation of political office holders in Nigeria, including the Vice President, has often been a subject of debate. Many Nigerians believe that the pay for top government officials is too high compared to the average earnings of ordinary citizens, especially considering the economic challenges the country faces. For instance, while the Vice President earns more than ₦1 million monthly, the minimum wage in Nigeria is ₦30,000 per month, leading to a significant disparity between the earnings of public servants and the general population.

Conclusion

The Vice President of Nigeria enjoys a well-compensated salary and benefits package, reflecting the responsibilities and demands of the office. With a monthly take-home pay of about ₦1.01 million, supplemented by various allowances, loans, and retirement benefits, the total earnings of the Vice President are quite competitive within the public service. However, the large pay gap between top public officials and ordinary Nigerians continues to fuel debates on whether this pay structure is justified in light of the country’s economic situation.