Governor Salary in Nigeria 2026 — Full RMAFC Breakdown

Governor Salary in Nigeria 2026 — What RMAFC Says

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) is the Nigerian government body responsible for setting remuneration for all political office holders — from the President and governors down to commissioners and special advisers. The current salary table has been in force since 2007, with no official increase approved despite multiple proposals including a 114% raise for the President in 2023 that was rejected.

According to RMAFC Chairman Muhammed Shehu's statement in April 2025: "The monthly salary of the President is less than ₦1.5 million." A state governor earns ₦648,581 per month in total RMAFC package, comprising a basic salary of ₦185,308 plus housing, transport, domestic staff, entertainment, utilities and other allowances. This is far lower than popular perception, though unofficial perks and security votes significantly increase actual monthly spending power.

This page covers the full salary breakdown for Nigerian governors, the President and Vice President, Deputy Governors, Senators, House of Representatives members, and the CBN Governor — with allowance details, post-office benefits and an honest comparison of who earns what.

Salary Comparison — All Political Office Holders in Nigeria 2026

Side-by-side RMAFC official figures for all major political office holders. Basic salary is the bare pay; total includes all statutory allowances per RMAFC schedule.

* RMAFC figures unchanged since 2007. CBN Governor salary is estimated; not officially disclosed. "Total package" includes all statutory allowances per RMAFC schedule.

Governor vs Senator Salary in Nigeria — Full Comparison 2026

One of the most searched questions in Nigerian politics: who earns more — a governor or a senator? The answer depends on whether you count statutory salary alone or total resources accessible.

On paper, senators earn more (₦1,063,860/month vs ₦648,581/month) because their constituency allowance of ₦5,066,000 per year (₦422,167/month) pushes their total above governors. However, this comparison is misleading for real-world purchasing power.

In practice, governors have far more resources. A state governor controls the state's annual budget (which can range from ₦100 billion to over ₦1 trillion for Lagos), has access to a "security vote" (a discretionary monthly fund not subject to legislative oversight), runs all state procurement and appointments, and commands the entire state civil service. These informal resources dwarf any statutory salary comparison.

CBN Governor Salary in Nigeria 2026 — What We Know

The Central Bank of Nigeria (CBN) Governor is not a political officeholder like state governors — the CBN Governor is an appointed technocrat who heads the apex bank. Salary for the CBN Governor is therefore not regulated by RMAFC and is not publicly disclosed, unlike state governors and the President.

What the data shows: Estimates from InquireSalary and other salary intelligence sites put the CBN Governor's basic monthly salary at approximately ₦480,000 (₦5.76 million per year). However, the CBN Annual Report 2024 revealed that all 12 CBN Directors (comprising the Governor, four Deputy Governors, and seven Non-Executive Directors) collectively received total compensation of ₦2.85 billion in 2024 — including ₦1.33 billion in salaries and ₦1.51 billion in post-employment pension and medical benefits.

Dividing ₦2.85 billion across 12 directors yields an average of approximately ₦237.5 million per director per year (₦19.8 million per month) — though this figure includes pension provisions and is not simply monthly cash salary. The current CBN Governor is Olayemi Cardoso, appointed by President Bola Tinubu on 15 September 2023 and confirmed by the Senate on 23 September 2023. He serves a 5-year term.

Why Nigerian Governors Earn Less "On Paper" Than Most Nigerians Think

A common misconception among Nigerians is that governors earn hundreds of millions monthly. The actual RMAFC salary table — unchanged since 2007 — tells a different story: a governor's statutory total is just ₦648,581/month. Several factors explain the gap between perception and reality:

1. The security vote. This is a monthly discretionary fund allocated to each governor, typically running from ₦500 million to over ₦1 billion per month in larger states, that the governor can spend without legislative approval or public audit. It is not a "salary" but effectively increases the governor's financial resources enormously.

2. State procurement. Governors sign off on all major state contracts. This gives them enormous indirect influence over the flow of state funds to contractors, suppliers and allies.

3. Running cost inflation. Beyond the RMAFC salary, governors' offices receive large allocations for "running costs" that cover vehicles, travels, hospitality and staff that do not show up as personal income.

4. Salary unchanged since 2007. Nominal RMAFC salaries have not changed despite Nigeria's naira losing over 90% of its value since 2007. In real terms, the ₦648,581/month a governor earns today is worth far less than it was when the schedule was set — which is why the pressure for a salary review remains strong.