From what OluFamous.Com observed, political office holders don't really much but they are the ones with some of the biggest and most expensive cars and house around the country and abroad. How come?

The 37 ministers recently sworn in by President Muhammadu Buhari will receive current remuneration packages approved by the Revenue Mobilisation, Allocation and Fiscal Commission, (RMAFC).

According to the current package, the Minister of Power, Works and Housing, Babatunde Fashola; Minister of Transport, Rotimi Amaechi; and other senior ministers will get:
N4,052,800 as housing allowance. Housing allowance is 200% of a minister’s annual remuneration.

Each of the ministers is also entitled to N6,079,200 as furniture allowance. The furniture allowance is 300 per cent of a minister’s annual salary. Unlike the housing allowance, however, the furniture allowance is paid once in four years. This means the furniture allowance per annum is N1,519,800.

Should any of the ministers desire, they are also entitled to N8,105,600 as motor vehicle allowance. The motor vehicle allowance is, however, a loan repayable by the end of the tenure of the minister.

The annual basic salary of a substantive minister is N2,026,400. On monthly basis, this amounts to N168,866:66.

Apart from the monthly basic salary, there are other perks that each minister will receive at the end of each month. These include motor vehicle fuelling and maintenance allowance of N1, 519,800 (annual value) with a monthly value of N126,650. The vehicle maintenance allowance is 75 per cent of the annual basic salary.

The personal assistant allowance of N506,600 per annum is also payable. This has a monthly value of N42,216.66. This allowance is calculated as 25 per cent of the basic salary.

Each of the senior ministers is entitled to a payment of N1,519,800 for domestic staff. This is 75 per cent of the annual basic salary and on monthly basis amounts to N126, 650.

For entertainment, each of the ministers is entitled to N911,880 annually or N75,990 per month. This is 45 per cent of the annual basic salary.

For utilities, each of the ministers is entitled to 30 per cent of their annual salary which translates to N607,920 per annum or N50,660 a month.

For monitoring, each of the ministers is entitled to 20 per cent of their annual basic salary. This translates to N405,280 per annum or N33,773.33 per month.

For newspapers/periodicals, each of the senior ministers will get 15 per cent of the annual basic salary. This translates to N303,960 per annum or N25,330 per month.

Allowances for their security personnel, medicals and special assistants are also provided. The tour duty allowance is N35,000 per night; the estacode is $900 per night and the leave allowance is 10 per cent of their annual salary or N202,640.

The summation of these annual allowances is N13,374, 240 for each minister excluding the optional vehicle allowance. Yearly, the Federal Government is expected to pay the 24 senior ministers no less than N320,981,760.

Each of the ministers of state, on the other hand, is entitled to N3, 915,160 as housing allowance and N5,872,740 as furniture allowance. Should any of the ministers desire, they are also entitled to N7, 830,320 as motor vehicle allowance, which is a loan repayable by the end of the tenure of the minister.

The annual basic salary of a substantive minister of state is N2,026,400. On monthly basis, this amounts to N168,866:66.

Like their senior counterparts, the state ministers are also entitled to other perks. These include motor vehicle fuelling and maintenance allowance of N1, 468,185 (annual value) with a monthly value of N122,348.

The personal assistant allowance of N489,395 per annum is also payable. This has a monthly value of N40,782.91. This allowance is 25 per cent of the basic salary.

Each of the state ministers is entitled to a payment of N1,468,185 for domestic staff. This is 75 per cent of the annual basic salary and on monthly basis amounts to N122,348.75.

For entertainment, each of the state ministers is entitled to N880,911 annually or N73,409.25 per month. This is 45 per cent of the annual basic salary.

For utilities, each of the ministers is entitled to 30 per cent of their annual salary which translates to N587,274 per annum or N48, 939.50 a month.

For newspapers/periodicals, each of the state ministers will get 15 per cent of the annual basic salary. This translates to N293,637 per annum or N24, 469.75 per month.

Like their senior counterparts, the security personnel, medicals and special assistants are also provided for the state ministers. The tour duty allowance is N30,000 per night; the estacode is $900 per night and the leave allowance is 10 per cent of their annual salary or N195,758.

The summation of these annual allowances for the junior ministers is N12,597,332 for each minister excluding the optional vehicle allowance. Yearly, the Federal Government is expected to pay the 13 junior ministers no less than N163,765,316.

The current remuneration of public office holders is guided by the Remuneration Act of 2007.
RMAFC had set in motion the process for the downward review of the existing salaries and allowances of political, public and judicial office holders when it inaugurated a committee chaired by Chairman of Remuneration Committee, Mr. Abdullahi Inde.

A review became imperative due to dwindling revenues occasioned by falling oil prices globally.

New packages prepared by a committee headed by Inde, had been ratified at a retreat held for commissioners of the agency, which was concluded recently in Owerri.

However, after the preparation of the new packages by RMAFC, it still has to be presented to the Federal Executive Council which has the responsibility to present it to the National Assembly as a bill for enactment as an Act of Parliament.

Chairman of RMAFC, Mr. Elias Mbam, told PUNCH on Saturday that the new packages would soon be made public. He said the work was “going through a process of editing.”

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