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General News of Tuesday, 9 August 2022

Source: www.mynigeria.com

Buhari ranks high among well-paid leaders in Africa, see full list

President Muhammadu Buhari and Cameroon's Paul Biya President Muhammadu Buhari and Cameroon's Paul Biya

President Muhammadu Buhari is the fifth highest paid leader in West Africa and the 15th highest paid according to a recent report by Business Insider Africa.

Facts and figures from the report that sought to highlight the earnings of some of the continent's most powerful African leaders was sourced from the country's websites and data from organizations such as the International Monetary Fund and the CIA World Factbook.

According to the report, President Buhari's $69,000 annual and $5,750 monthly earnings pegs him below Paul Biya of Cameroon, ($620,976), Alassane Ouattara of Ivory Coast ($100,000), George Weah of Liberia ($90,000) and Nana Akufo-Addo of Ghana ($76,000) in the region.

On the continent, Paul Biya is followed closely by King Mohammed VI, the current King of Morrocco ($488,604), Cyril Ramaphosa of South Africa ($223,500) and Uhuru Kenyatta of Kenya ($192,200).

"One thing of concern is that the annual salaries of most leaders are well above the country’s GDP per capita or average wages. This is why many young citizens are curious to discover how much African leaders earn so that they can compare their pay packets with the average salaries and GDPs of other respective countries, the report said in part.

The report pegged Nigeria’s GDP Per capita vis-à-vis the president’s earnings at 2,149.

Recall that Buhari upon his assumption of office initiated a 50 percent salary cut for himself and the vice president as he noted that he doesn't see the need to cut government expenditure.

His salary was reduced to N14 million naira meaning his basic salary is N3,514,705. This was made public by the revenue Mobilization Allocation and Fiscal Commission.

Other entitlements that make it N14 million naira are the consistency allowance, which makes up 250% of his annual salary and amounts to N8, 786,762.50. Another one is the hardship allowance, which is 50% of the basic salary and amounts to N1, 757, 350.50, according to Nigeria Finder.

Other services accorded the president for free are; periodicals, newspapers, security, utilities, entertainment, domestic staff, personal assistant, special assistant, vehicle maintenance and vehicle fueling.

Others include medical needs, estacode per night, duty tour allowance per night, furniture allowance and accommodation. These allowances mentioned are given to the president on a periodic basis while some others are provided on a monthly basis, Nigeria Finder noted.

Here are the top five highest-paid African leaders

a. Paul Biya of Cameroon – US$620,976

b. King Mohammed IV of Morocco - US$488,604

c. Cyril Ramaphosa of South Africa - US$223,500

d. Uhuru Kenyatta of Kenya - US$192,200

e. Yoweri Kaguta Museveni of Uganda - US$183,216

NBA

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