Governors’ Salary in Nigeria; How much do governors earn?
The Nigerian governors flaunt so much wealth that we begin to wonder how much their salary is. If you belong to this group of curious minds who want to know how much governors in Nigeria earn as a monthly salary and any other incentives the first state citizens enjoy, this post is for you.
I have carefully laid out all you should know about the salary of Nigerian governors and their deputies in this post.
HOW MUCH DO STATE GOVERNORS GET MONTHLY?
The lifestyle of the Nigerian governors by far outweighs their constitutionally allotted salary. The accrued monthly pay for Nigerian governors is N2. 2 million per month.
Nonetheless, how much governors earn annually is determined by the approved remuneration for political, public, and judicial officeholders.
The current remuneration was approved by the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) and it has been effective since July 1st, 2009.
From the standpoint of this remuneration, the governors of Nigeria are bound to earn a total amount of about N11, 540,896 per year.
The basic monthly salary of Nigerian state governors is N2,223,705 while the annual leave allowance for the Nigerian State governors is N222, 370.50.
Again, the state governors are entitled to 400% of their annual salary for the maintenance of vehicles. When properly calculated, this amount runs into N8, 894,820.
From the above, we can find out that the sum total of the basic salary, car maintenance, and leave allowance should give about N11, 540,894. At the end of their tenure, state governors receive a gratuity which is worth N6, 671,115.
HOW MUCH ARE DEPUTY GOVERNORS PAID PER MONTH?
On the other hand, the State deputy governors earn much, but not as the State governors. As the second citizen of the State (after the governor), he is entitled to so many allowances too as the governor. Such allowances include Furniture and vehicle allowances.
The deputy governors of the Nigerian States earn a total of N10, 772,296 per annum. The breakdown of this amount istl stated as follows:
They earn a Basic Salary of N2, 112,215 and a vehicle loan of N8, 448,860. Their annual leave allowance amounts to about N211, 221.50. Totaling these should amount to the figure given above ad the annual earnings of Nigerian State deputy governors.
HOW ELSE DO NIGERIAN GOVERNORS MAKE MONEY
From the x-ray we have given to the annual salary of the Nigerian governors, one can begin to imagine how they make so much money.
We may not in the right position to declare it is public fund they amass since there other means State governors make huge money.
- Some State governors contract their allies to handle infrastructural projects, after which they get their cut of the profit.
- State governors are closer to loans and grants, through which they can make multiple investments around the country.
Having come up till this point, I am pretty sure you have got the clue of the salary of the Nigerian governors and their deputies.
You have also learned the different ways they can make their money aside from the ‘peanuts’ they are paid by the government.
If you have suggestions or questions probably, do not waste time to put it through in the comment section.