President Muhammadu Buhari and Vice President Yemi Osinbajo will only receive 50 per cent of the salary paid to their predecessors, a government source said on Friday.
The slash may not be unconnected with the current economic situation in the country.
The President is entitled to an annual basic salary of N3,514,705 or N292,892.05 per month under the Remuneration package for Political, Public and Judicial Office Holders of 2007 issued by the Revenue Mobilization Allocation and Fiscal Commission (RMAFC) ,while the Vice President’s salary is N3,031,572.50k per annum or N252,631.04k per month.
The President’s Senior Special Assistant on Media and Publicity, Mallam Garba Shehu, said yesterday that the Permanent Secretary of the State House, Mr. Nebolisa Emodi had already communicated the development to the office of the Secretary to the Government of the Federation.
“I write to forward the completed IPPIS registration form of Mr. President and to draw your kind attention to Mr. President’s directive that only 50% of his salary be paid to him,” Mr. Emodi said in a memo with reference number PRES/81/SGF/17.
Apart from basic salary, the president and the vice president are also entitled to hardship and constituency allowance which bring their total remunerations to N14,058,820 per annum or N1,171,568.20k per month for the President and N12,126,290 per annum or N1,010,524.16k per month for the vice president.
Governors Rufai el-Nasir (Kaduna),Mohammed Abubakar (Bauchi),Abdulahi Ganduje (Kano) and Okezie Ikpeazu had earlier cut their own salaries and those of all political office holders in their respective states as part of the efforts to cut costs.