August 11, 2006/tribune
The present N1,405,882.00 annual basic salary of President Olusegun Obasanjo has been described as the poorest in the world as new remuneration packages for all political office holders become operational in December 2006.
Chairman, Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Engineer Hamman A. Tukur, made this known yesterday in Abuja at a meeting of the remuneration and monetisation committee of RMAFC with the Federal Executive bodies.
Engineer Tukur, disclosed that the remuneration package of the president was the poorest in the world as he earned less than $10,000 a month.
To address the situation, the RMAFC boss said the Revenue Commission had set up a remuneration and monetisation committee to review the salary and allowances of all political office holders in the country.
Engr. Tukur, who disclosed that the present remuneration packages of all political office holders were fixed five years ago, said the changing reality in the economy made it imperative for an upward review of their remunerations.
To underscore the importance of the exercise, Engr. Tukur said the new salaries would be ready before the 2007 budget so that budgetary provisions would be made for the reviewed packages in the 2007 budget that should be unfolded in December 2006.
He said the remuneration and monetisation committee of RMAFC had gone to all the 36 states of the federation and the 774 local government councils to feel their pulse on how the new package would be.
Providing an insight into why there was the need for an upward review of remuneration packages for all political office holders, Chairman, Remuneration and Monetisation Committee of RMAFC, Mr. Emeka Nwogu, said when the last exercise was done, the fuel price was N11.00 per litre as against the present N65.00 while the prices of all consumer items had gone up.
He said the value of the naira had also depreciated, thus necessitating an upward revision. Apart from the review of the remuneration packages for members of the Federal Executive Council, RMAFC will also determine the packages of 14 other executive bodies, which include Code of Conduct Bureau, Federal Character Commission, Federal Civil Service Commission.
Others are Independent National Electoral Commission, National Population Commission, Police Service Commission etc.