Everything you need to know about a Ministers salary in Nigeria, from their annual salary to their monthly take-home pay. Nigerian ministers are among the highest-paid in the world. This is true.
If you actually desire to learn the salaries of Nigerian Ministers, you have come to the proper place. Ensure that you read this entire post.
Nigerian Ministers: Brief Overview
Nigerian ministers are the official executive members of the Nigerian cabinet, which is led by President Muhammadu Buhari at the time of this writing. The ministerial job is one of those government positions that you can never win in an election.
Whoever is appointed to such a post does so on a sole appointment basis. Of course, no one other than the President has the authority to designate somebody to that office.
Ministers Salary in Nigeria: What is The Salary of Ministers?
According to the Revenue Mobilization, Allocation, and Fiscal Commission (RMOAF), a Nigerian minister’s yearly pay is N487 million Naira. This includes any annual allowances and bonuses to which he is eligible. It’s unsurprising that the majority of people would do anything possible to be selected for that position.
As you continue reading, you’ll discover a detailed analysis of all the allowances and bonuses they receive each year.
A Comprehensive Analysis of Ministers’ Salaries and Allowances
We previously mentioned that the annual remuneration of a Nigerian minister, when all allowances and bonuses are included, is approximately N487 million.
The following is a complete breakdown of the total amount of money:
1. Basic Salary: N2,026,400
In the Federal Republic of Nigeria, a minister’s base salary is set at N2,026,400 per year. This is the exact amount they earn as their primary wage each year. Divided by 12, this equates to a monthly compensation of around N168,867.
2. Allowance For Car Refueling And Servicing: N1,519,000
Without a doubt, a minister’s car must be properly fueled and repaired at all times. You do not want him to be stranded on an official assignment due to his car. This eliminates any reasons for car trouble and gasoline shortages.
3. Allowance for Domestic Staff: N1,519,000
This is to assist the minister in caring for any domestic staff employed by him or his family. This category covers chefs, gatekeepers, and others.
4. Allowance for Entertainment: N911,800
After a long day at the workplace, a minister must completely unwind in preparation for the following day’s duties. The entertainment allowance is intended to assist him in accomplishing this.
He can use the entertainment allowance to purchase music or films, celebrate his birthdays, host and attend other parties, and so on.
5. Allowance for Estacode: N347, 374
The estacode allowance is one of those allowances that I’m not entirely sure what it’s for. If you have any information about it, please share it with me in the comment box below.
6. Allowance for furniture: N6,079,200
This yearly allowance is used to replace and maintain the minister’s office furnishings, which includes his home office and others. Though N6 million is a considerable sum for this, it pales in comparison to the senators’ and President’s salaries.
7. Allowance for Housing: N4,052,800
The minister’s housing allowance enables him to maintain a comfortable standard of living for himself and his family. He can rent or own a residence in whatever location he chooses and live happily with this money.
You do not want your ministers to be publicly embroiled in a rent dispute with their landlord, as this would be a major embarrassment for the country.
8. Allowance for Leave: N202,640
As the name implies, the leave allowance is money intended for the minister to use and care for himself while on leave. This is what he is entitled to receive regardless of the duration of the leave.
9. Allowance for monitoring: N405,280
When you hear the term “monitoring allowance,” what readily comes to mind? That is what money is for, correct? To be sure, the monitoring allowance is included in the funds allocated to the office’s general operation.
10. Loan for a Motor Vehicle: N8,105,600
The minister may purchase any car he desires with this money. Each year, he can choose whether or not to accept or use the loan.
11. Newspaper Subscription: N303,960
The purpose of this money is to keep the minister informed about current events. He can use the money to purchase and read newspapers from a variety of sources. For example, PUNCH, Daily SUN, and The Nation.
12. Allowance for a personal assistant: N506,600
Consider a minister who does not have a personal aide; he will be responsible for practically everything himself. That is a significant time commitment and a source of stress.
The purpose of the PA allowance is to aid him in affording the luxury of having a personal assistant handle the majority of his day-to-day office work.
13. Allowance for Tour Duty: N35,000
This is comparable to “pocket money.” It is one of the little sums of money granted to the minister to guarantee that his office runs smoothly. He can use this money to support himself while attending to official duties.
14. Allowance for Utility Costs: N607,920
This sum is intended to cover the minister’s utility expenditures. For instance, an electricity bill or a water bill. This prevents the minister from ever finding himself in an awkward situation with the relevant bodies in charge of such matters.
Haven saw the ministers salary in Nigeria with their numerous allowances, would you want to become a minister? well, As right stated above, The ministerial job is a government position that is never won in an election.
It is strictly based on appointment, whoever is appointed to such a post does so on a sole appointment basis and only the President has the authority to make such appointments.
Therefore, if you wish to become a minister in Nigeria, you need to begin by connecting with the appropriate people.