The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) is considering reviewing the salaries of political officeholders.
By its enabling Act, the RMAFC is charged with determining the remuneration of political officeholders, including the president, vice-president, governors, deputy governors, ministers, commissioners, special advisers, legislators, and other officials listed under sections 84 and 124 of the constitution.
The last adjustment to the remuneration package of political officeholders reportedly took place in 2008.
When President Bola Tinubu assumed office in May 2023, plans were initiated to review the remuneration. However, the move was suspended in September of the same year due to “economic challenges.”
Speaking at a press conference in Abuja on Monday, Mohammed Shehu, chairman of RMAFC, said the salaries of political officeholders are no longer in tune with current realities.
‘WHAT THE PRESIDENT CURRENTLY EARNS IS A JOKE’
“You are paying the president of the Federal Republic of Nigeria ₦1.5 million a month, with a population of over 200 million people. Everybody believes that it is a joke,” Shehu said.
“You cannot pay a minister less than ₦1 million per month since 2008 and expect him to put in his best without necessarily being involved in some other things.
“You pay either a CBN governor or a DG 10 times more than you pay the president. That is just not right. Or you pay him [the head of an agency] twenty times higher than the attorney-general of the federation. That is absolutely not right.
“It is about time that people like you and others should support the commission to come up with reasonable living salaries for ministers, DGs, and the president.”
Shehu also revealed that the RMAFC has begun reviewing Nigeria’s revenue allocation formula among the federal, state, and local governments.
“In line with this constitutional responsibility and in response to the evolving socio-economic, political, and fiscal realities of our nation, the commission has resolved to initiate the process of reviewing the revenue allocation formula to reflect emerging socio-economic realities,” Shehu said.
He added that the current situation has made it essential to re-evaluate the structure of fiscal federalism to foster economic growth in individual states, enabling them to become less dependent on the central government, while ensuring equity, responsiveness, and sustainability.
