Buhari's Ministers Gets N485 annually

                      

Each of the 37 ministers sworn in by President Muhammadu Buhari on Wednesday will receive N485m yearly as current remuneration packages approved by the Revenue Mobilisation, Allocation and Fiscal Commission, 

Punch reports that  the current remuneration of public office holders is guided by the Remuneration Act of 2007.
RMAFC had in June set in motion the process for the downward review of the existing salaries and allowances of political, public and judicial office holders,the review became imperative following dwindling government revenues occasioned by falling prices in the international oil market.

The new packages prepared by a committee  had been ratified at a retreat held for commissioners of the agency.
However, after the preparation of the new packages by RMAFC, it still has to be presented to the Federal Executive Council which has the responsibility to present it to the National Assembly as a bill for enactment as an Act of Parliament

Chairman of RMAFC, Mr. Elias Mbam, told journalist on Saturday that the new packages would soon be made public. He said the work was “going through a process of editing.”

However ,Presidency sources revealed that the new ministers would be paid in accordance with the existing statute because the reviewed package was not ready

According to the current package, the Minister of Power, Works and Housing, Mr. Babatunde Fashola; Minister of Transport, Mr. Rotimi Amaechi; Minister of Information and Culture, Mr. Lai Mohammed and other senior ministers will get N4,052,800 as housing allowance. The annual housing allowance is 200 per cent of a minister’s annual remuneration.

Each of the ministers is also entitled to N6, 079,200 as furniture allowance. The furniture allowance is 300 per cent of a minister’s annual salary. Unlike the housing allowance, however, the furniture allowance is paid once in four years. This means the furniture allowance per annum is N1,519,800

Should any of the ministers desire, they are also entitled to N8,105,600 as motor vehicle allowance. The motor vehicle allowance is, however, a loan repayable by the end of the tenure of the minister.

The annual basic salary of a substantive minister is N2,026,400. On monthly basis, this amounts to N168,866:66.

Apart from the monthly basic salary,  each minister will receive at the end of each month, a motor vehicle fuelling and maintenance allowance of N1, 519,800 (annual value) with a monthly value of N126,650. 

Each of the senior ministers is entitled to a payment of N1,519,800 for domestic staff. N911,880 annually for entertainment,N607,920 per annum for Utility,N405,280 per annum for monitoring,N303,960 per annum for periodicals.

The summation of these annual allowances is N13,374, 240 for each minister excluding the optional vehicle allowance.