How much is Nigeria president salary? The Nigerian President holds one of the most significant roles in the country and by looking at the Nigeria president salary, income, and net worth, we can understand the financial rewards that come with this prestigious position.
Bola Ahmed Tinubu isn’t just a politician; he’s also a very successful businessman. This combination has allowed him to amass a considerable amount of wealth over the years. His journey from an ordinary person to a wealthy politician grabs a lot of attention and interest.
That is why this article gives you an inside look at the financial side of Nigeria’s top leader. Follow through.
Table of contents
Nigeria President Biography
| Name: | Bola Ahmed Tinubu |
| Date of Birth: | March 29, 1952 |
| Age: | 68 |
| Country of Origin: | Nigeria |
| Source of Wealth: | Politics, Real Estate, Investments |
| Estimated Net Worth: | $10 billion |
Early life and Education
Chief Bola Ahmed Adekunle Tinubu GCFR, born on March 29, 1952, is a Nigerian politician and the 16th and current president of Nigeria. Tinubu was born in Lagos into the merchant family of Abibatu Mogaji, who was the Ìyál’ọ́jà (market leader) of Lagos.
Tinubu started his education at St. John’s Primary School in Aroloya, Lagos, and then attended Children Home School in Ibadan. He spent his early years in southwestern Nigeria before moving to the United States to study accounting. He began his studies at Richard J. Daley College in Chicago and later transferred to Chicago State University, where he graduated in 1979 with a Bachelor of Science degree in Accounting.
After finishing his education, Tinubu returned to Nigeria in the early 1990s and worked as an accountant for Mobil Nigeria.
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Early Political Career
Tinubu started his political journey in the early 1990s with the Social Democratic Party. In 1993, he was elected as the Senator for Lagos West. After the June 12, 1993 elections were annulled, Tinubu joined the National Democratic Coalition (NADECO), a group that fought hard to bring back democracy in Nigeria.
His Exile and Return
After General Sani Abacha took power as a military head of state, Bola Tinubu went into exile in 1994. He returned to Nigeria in 1998 after Abacha’s death, which led to the transition to the Fourth Nigerian Republic.
Before the 1999 elections, Tinubu was a follower of Alliance for Democracy (AD) leaders Abraham Adesanya and Ayo Adebanjo. He won the AD primaries for the Lagos State governorship elections by defeating Funsho Williams and Wahab Dosunmu, a former Minister of Works and Housing. In January 1999, Tinubu ran for Governor of Lagos State on the AD ticket and won the election.
In 1999, Tinubu became the Governor of Lagos State and served until 2007. During his time as governor, he made big improvements in infrastructure, education, and healthcare. He also played a key role in creating the All Progressives Congress (APC), which eventually led to his run for president.
Presidency
Bola Tinubu officially started his presidency on May 29, 2023. He was sworn in by the Chief Justice of Nigeria, Olukayode Ariwoola, at 10:41 AM (WAT) during a ceremony at Eagle Square in Abuja.
His presidency faced no opposition after clearing legal challenges from the March election, earning international recognition. Many heads of state and government attended the event.
On May 25, 2023, Tinubu received the highest national honor, the Grand Commander of the Order of the Federal Republic, from his predecessor, Muhammadu Buhari. Vice President Kashim Shettima received the second highest honor, the Grand Commander of the Order of the Niger.
Nigeria President Income and Networth
How Much is Nigeria President Salary?
The Nigerian president salary is decided by the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC). Currently, the president makes about ₦14.058 million a year, which is around $35,000. This amount includes various allowances like hardship and constituency allowances.
But the salary is just a part of what the president gets. The president also enjoys many perks such as free housing, transportation, security, and healthcare. These benefits add a lot of value to the president’s overall compensation.
Also, according to Icirnigeria.org, the President’s monthly salary is valued at 1,171,568 NGN.
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Networth
With his wide range of investments scattered all over the city of Lagos and an ongoing political influence, Tinubu’s net worth is likely to grow in the coming years. However, his current networth is about $10 billion, placing him among the richest people in Nigeria.
Honors and Decorations
Like every other politician, Tinubu holds two traditional chieftaincy titles and one national honours. Check out the list below for the titles.
- Asiwaju of Lagos
- Jagaba of the Borgu Emirate in Niger State
- Grand Commander of the Order of the Federal Republic (GCFR) (conferred on 25 May 2023)
Popular Quotes from the Nigerian President
Some of the popular quotes from President Bola Ahmed Tinubu include:
- “It’s easy for those who are greedy to think that change is easy. Change is not about comfort of today, but the success of tomorrow.”
- “A town hall different from bala blu blu blu bulaba.”
- “Progress isn’t about killing each other. It is not. Love is about embracing one another. If I disagree with you today, tomorrow we might agree and build a nation.”
- “We are a reviving nation and before a nation becomes a golden egg, we must sweat and you must sweat.”
- “You choose to step down so that I will do a better job, you trust my brain that I am a thinker and a doer.”
- “We can revive our economy, compete with other nations, and beat nations like Morocco. Yes we can and by the grace of God we will.”
- “We are yet to generate electricity to even roast bole”
- “If they ask you what APC has done, tell them to shurrup”
- “Turn the so-called Yahoo boys into experts in manufacturing and creation of chips”
- “Is it for eba, is it for garri? Is it for beans and dodo?”
- “We are not poor in knowledge. We are not poor in human resources. We are only poor in management and leadership, and that is why I ran for president, to help all of us mould the soul of our country in the right direction.”
- “Do not procrastinate. Don’t be frightened about investments in Nigeria. Bring it on. Ask your questions and make your requests.”
- “In politics you can’t be a spectator and hope to succeed. It is like a football game. In the course of playing you sustain injuries and have bruises. You nurse your injuries and continue to play. That’s the only way you can win.”
- “I am in the news more because I’m working, Nigerians discuss active men in the field.“
FAQs on How Much is Nigeria President Salary
The Nigerian president’s annual basic salary is about ₦14.058 million approximately $35,000.
Besides the official salary, the president enjoys numerous perks, including free housing, transportation, security, and medical care.
The current president of Nigeria is Bola Ahmed Tinubu. He assumed office on May 29, 2023.
Conclusion
Although Bola Tinubu has amassed a lot of wealth for himself, his political journey hasn’t been smooth.
That has not only made tongues to wag but also led us into carrying out this deep research on how much the Nigeria president earns as monthly income.
References
- EN.wikipedia.org – President of Nigeria
- Zikoko.com – How Much Will Tinubu Earn As Nigeria’s President?
- Fij.ng – What Nigeria’s President, Senators Really Earn
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