The Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC) says it has started preliminary work on the review of the remuneration of political office holders.
Reiterating that the review would be achieved this year, the Chairman of RMAFC, Mr Elias Mbam, said the pay package of political office holders could go up or down after the process.
Mbam said the review would align the remuneration of the political office holders with “current realities” in the country.
Addressing some journalists during an interactive session in Abuja, Mbam said, “It is the intention of the commission to review remuneration of public office holders this year and the process will determine whether it will be a reduction or an increase.
“That is part of our primary responsibilities. It is one of the areas we intend to address this year so that the remunerations will reflect current realities.”
Asked whether a downward review was not the more obvious reflection of current realities in the country, considering the revenue challenges facing the government, Mbam said the review process would determine the outcome.
He said, “I don’t want to pre-empt what will be the result.
“It is a process and the process, if followed appropriately, will arrive at the appropriate answer. The preliminaries have commenced.”
Nigerian political office holders are reputed to be among the highest paid in the world despite the country’s revenue challenges and rating as a ‘lower middle-income country’ by the World Bank.
Currently, the country’s President and Vice President earn N3.5m and N3.03m as basic salary, per annum, respectively, according to the breakdown made available by the RMAFC.
In the same vein, the annual basic salary of political office holders are – minister, N2.02m; minister of state, N1.95m; Special Adviser, N1.94m; governor, N2.22m, deputy governor, N2.11m, and commissioner, N1.33m.
Apart from the basic salary, the President is entitled to allowances such as hardship allowance, which is 50 per cent of his salary, about N1.757m, and consistency allowance – 250 per cent of his salary, which amounts to about N8.79m.
The President’s gratuity is 300 per cent of his salary, amounting to N10, 544,115, and he is also entitled to a leave allowance of 10 per cent of his salary, as well as a vehicle loan which amounts to 400 per cent of the salary.
The Vice President, governors, members of the National Assembly and some other categories of political office holders also receive similar allowances in different amounts.
Other regular allowances enjoyed by the President, Vice President, the governors and members of the National Assembly include personal assistant, constituency, vehicle fuelling/maintenance, domestic staff, entertainment, recess, newspaper/periodicals and utilities.
Also included are house maintenance, security, special assistant, furniture, wardrobe, duty tour, accommodation, estacode and medical allowances.