Buhari to Take 50% Pay Cut
“President Muhammadu Buhari will only receive 50% of the salary paid to his predecessor,” the head of state’s spokesman Garba Shehu said in an emailed statement.
“The president’s decision to take a 50% cut was conveyed to the Office of the Secretary to the Government of the Federation yesterday (Thursday),” he added.
The annual salary of Nigeria’s president is currently set at 14,058,820 naira ($70,000), including allowances, according to the Revenue Mobilisation Allocation and Fiscal Commission.
Mr Shehu said Vice-President Yemi Osinbajo would also draw only half of his salary of 12,126,290 naira per annum.
The announcement comes as Africa’s leading economy faces the fall-out from the slump in the global price of crude oil, which provides most of Nigeria’s government revenue, and a public outcry over the remuneration of lawmakers.
His move is likely to add pressure on members of parliament and state governors to follow suit.