President Muhammadu Buhari will only receive 50% of the salary due to him as President, according to a press statement signed by Garbu Shehu, his Senior Special Assistant on Media and Publicity.
This action is similar to, but not as expansive as, that taken by former President Goodluck Jonathan when he reduced his salary and that of other federal political appointees by 30% in January 2012.
“The President’s decision to take a 50% 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,” the statement released, Friday, July 10, 2015, said.
The current annual remuneration of the President of Nigeria as published by the Revenue Mobilisation Allocation and Fiscal Commission is N14,058,820.00.
Vice President Yemi Osinbajo has similarly given up half of his official remuneration.
President Jonathan is the first democratically elected president of Nigeria to take a paycut.
