Nigeria President’s Salary Per Month & Net Worth In Naira
Meet Bola Ahmed Tinubu, the 16th President of Nigeria, who assumed office on May 29, 2023, through direct national elections. Despite a modest presidential salary of less than ₦1.5 million, Tinubu’s staggering net worth of ₦114.9 billion places him among the wealthiest politicians globally. This article delves into the various income sources, assets, and the extravagant lifestyle of President Tinubu.
President Tinubu’s Income Sources
- Presidential Salary:
- Tinubu receives an annual salary of ₦49,899,538 as the President of Nigeria, translating to ₦4,157,848 per month.
- Rental Income:
- With a real estate portfolio valued at ₦15.32 billion, Tinubu earns approximately ₦2.3 billion annually from renting out various properties.
- Investments in Major Nigerian Corporations:
- Tinubu has investments in prominent Nigerian corporations, including Glo, Oando, Dangote Group, and Zenith Bank, contributing significantly to his income.
President Tinubu’s Assets
- Real Estate:
- Ikoyi Mansion (26 Bourdillon Road): Valued at ₦650 million, this luxurious residence serves as Tinubu’s primary home.
- Asokora, Abuja: Acquired in 2006, this property, originally worth ₦50 million, was transferred to Tinubu by the state government.
- Oyinkan Abayomi Drive, Ikoyi: A detached five-bedroom house with a value of ₦450 million.
- Ajah Junction, Lekki Road: A 250-hectare land valued at ₦35 billion, intended for Royal Garden Housing construction.
- Atlantic Beachfront: A 157-hectare property with a total value of ₦10 billion, slated for Vilas and a luxury golf course.
- Ikoyi Estate Foreshore: A 14-hectare Park View Foreshore land previously owned by Lagos state.
- Lekki-Epe Road Choice Property: A property with an Oriental Hotel, totaling ₦25 billion.
- Cars:
- Tinubu owns a fleet of over 30 luxury cars, including a Mercedes G-wagon (₦600 million), Toyota Prado SUV (₦50 million), Lexus (₦13 – ₦25 million), BMW (₦10 – ₦11 million), Ford (₦10 – ₦14 million), and Porsche (₦50 – ₦60 million).
- Private Jet:
- Tinubu’s private jet, valued at ₦21.7 billion, facilitates both domestic and international travel.
FAQs
What is the monthly salary of the President of Nigeria?
The monthly salary of the President of Nigeria is subject to periodic revisions by the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC). As of my last update, the salary is approximately ₦14 million Naira per annum.
How does the President’s salary compare to the average Nigerian income?
The President’s salary significantly exceeds the average income in Nigeria. It’s important to note that the President’s salary is just one aspect of their overall compensation package, which includes various allowances and benefits.
Does the President of Nigeria have other sources of income?
While the President’s primary income is their salary, they may also have income from investments or other assets. However, details about their personal finances are not always publicly disclosed.
What is the estimated net worth of the President of Nigeria?
Determining the exact net worth of the President of Nigeria can be challenging due to limited transparency regarding their personal finances. Various estimates and speculations may exist, but an official figure is not typically available.
Are there any efforts to regulate the President’s salary and benefits?
The salary and benefits of public officials, including the President, are often subject to scrutiny and periodic reviews by government bodies like the RMAFC to ensure they are fair and in line with prevailing economic conditions. However, controversies regarding public official compensation can arise due to perceptions of excessive or inadequate remuneration.
Conclusion
President Bola Ahmed Tinubu’s financial prowess extends beyond his presidential salary, with diverse income streams from real estate, investments, and rental properties. His opulent lifestyle, including a collection of luxury homes, a fleet of high-end vehicles, and a private jet, reflects his status as one of the wealthiest politicians not just in Nigeria, but on the global stage.