Despite High Governance Cost, RMAFC Set To Review Remuneration For President, VP, Others

Despite the outrage by Nigerians against the jumbo salary structure that public officials are placed on, the Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC), on Tuesday unveiled plans to commence procedures to review the remuneration.

The review will cover the remuneration for political, public and judicial office holders in the country.

The Chairman of the Commission, Mohammed Bello Shehu, stated this during a courtesy visit to the Chairman, Nigerian Governors Forum, Aminu Tambuwal of Sokoto State in his office in Abuja.

Shehu said the review, is in line with the functions of RMAFC as contained in paragraph 32(D) of part 1 to the third schedule of 1999 constitution of the Federal Republic of Nigeria as amended.

He stated that the legislation empowers the Commission to determine the remuneration appropriate to political, public and judicial office holders in the country.

According to him, the last time the review was carried out was 2008 which makes it even more compelling to conduct the exercise.

In his speech, Tambuwal congratulated Shehu on his new appointment as RMAFC Chairman.

He lamented that RMAFC, as one of the constitutional bodies in the country has been underfunded over the years.

He stated further that the under-funding has made it difficult for the Commission to function properly in monitoring all the revenue accruals into and from the revenue account.

Tambuwal advocated that the Commission should rather be funded on a first line charge.

This, he noted, will possibly help the Commission to go into digital monitoring and tracking of all accruable revenues into the federation account, thereby increasing revenues for sharing among the three tiers of government.

Tambuwal further commended the readiness of RMAFC to commence the process for the review of remuneration exercise while pointing out that the salaries of Judges in the country is one of the least in public service.

The RMAFC boss promised to produce fair and credible remuneration for the affected officers before the end of this present administration.

The President earns N14.058m annually or N1.171m monthly as basic salary.

Apart from the basic salary, the President is also entitled to regular allowances such as hardship allowance, which is 50 per cent of his salary.

The hardship allowance is about N1.757m. He is also entitled to constituency allowance, which is 250 per cent of his salary amounting to about N8.79m.

In addition, the President is entitled to other allowances such as severance gratuity which is 300 per cent of his salary, amounting to N10.54m. He is also entitled to a leave allowance of 10 per cent of his salary, which translates to N351,470.

The President is also entitled to a vehicle loan which amounts to 400 per cent of the salary, translating into N14.05m.

For the Vice President, he currently earns N12.126m annually or N1.01m monthly.

Apart from the basic salary, the VP is also entitled to regular allowances such as hardship allowance, which is 50 per cent of his salary.

The hardship allowance is about N1.515m. He is also entitled to constituency allowance, which is 250 per cent of his salary amounting to about N7.578m

In addition, the VP is entitled to other allowances such as severance gratuity which is 300 per cent of his salary, amounting to N9.09m. He is also entitled to a leave allowance of 10 per cent of his salary, which translates to N303,157

The VP is also entitled to a vehicle loan of 400 per cent of his salary, which translates into N12.126m.