President Muhammadu Buhari and Vice-president Yemi Osinbajo have reduced their salaries by 50 per cent.
The total salary package for the Nigerian president is N14.05million yearly.
The Vice President earns N12.1 per annum.
The basic pay however N3. 5 million for the president yearly and N3. 03million for the vice-president.
The President’s decision to take a 50 per cent pay cut was conveyed to the Office of the Secretary to the Government of the Federation yesterday by the Permanent Secretary of the State House, Mr. Nebolisa Emodi, a statement by Garba Shehu, Senior Special Assistant to the President on media and publicity read.
“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 wrote in the letter with reference number PRES/81/SGF/17.
Vice President Yemi Osinbajo has similarly given up half of his official remuneration.
The move came ahead of the review of the emoluments being earned by public office holders by the The Revenue Mobilisation, Allocation and Fiscal Commission.
The commission said it was reviewing the salaries to keep them in tune with the present economic realities facing Nigerians.
The Public Relations Officer of the commission, Mr Ibrahim Mohammed said a few weeks ago that the salaries were last reviewed in 2007 when President Umaru Yar’Adua directed that his salary as president should be slashed.
“The commission as it was provided in the constitution has the mandate to review from time to time, salaries and allowances of political, public and judicial office holders in the country.
“The last time we had such exercise was in 2007 and now because of the changes in economic realities, we feel it is high time we do something again.
“In this regard, we have already sent out memoranda for input from the general public, including the media, civil society, academia, organised private sector and the three tiers of government.’’