Abuja - Incumbent president, Muhammadu Buhari, and his vice president Yemi Osinbajo have cut their salaries by half, a statement from the presidency said on Friday.
The annual presidential salary was previously set at 14.1 million naira ($70,000).
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The president, elected in March in large part due to his stand against corruption, has been trying to change political attitudes by setting an example. Taking public office has traditionally been seen as an opportunity for officials to enrich themselves and dole out patronage.
Nigeria has been hard hit by a steep fall in oil prices since the middle of last year. It this week announced a three-pronged bailout to the federal, state and local governments, which have been struggling to pay salaries and cover a backlog of debts.