Announcing the salary hikes, the president praised the courage and sacrifices of members of the armed forces confronting “the scourge of banditry, kidnapping and terrorism”.
“The men and women who help to keep us safe in our homes must be supported and appreciated in the course of their duties to our nation,” he said in a statement.
“I urge our servicemen to take our gesture as a sign of our deep appreciation of the services they render to our fatherland. Together we shall prevail over the enemies intent on destroying the fabric of our nation.”
Successive Nigerian governments have struggled to contain insecurity despite increased military deployments and spending.
Islamist insurgents, including Boko Haram and the Islamic State West Africa Province (Iswap), continue to stage attacks in the north-east, while heavily armed criminal gangs – which loot and kidnap for ransom – operate across parts of north-west and north-central areas.
Other security challenges include separatist unrest in the south-east and deadly clashes over land between farmers and herders.
The most junior personnel are to receive the biggest salary hike:
Privates up to staff sergeants: 80%
Warrant officers up to colonels: 50%
Brigadier generals up to generals: 30%.
This will see the military’s annual wage bill jump from $484m to $678m.
“This is what we have been calling for a long time,” military expert Bashir Galma, a retired major general, told the BBC.
Though he expressed concern that future administrations might struggle to sustain such funding, given the significant jump in the military’s annual salary bill.
Serving personnel approached for comment have said they will reserve judgment until the new salaries are reflected in their bank accounts.
Galma also argued that other security agencies should receive similar pay reviews, stressing that “keeping the country safe is a joint effort”.
Beyond salaries, he said broader welfare issues also required attention including uniforms, boots and, most critically, new rifles to tackle the ongoing crises.
“All these are also important areas,” he said.
Tinubu has said his administration will continue to prioritise troop welfare and to modernise the armed forces with the weapons and technology needed to tackle security threats.
Under his recent reforms, the army will have now 12 divisions spread over the whole country to ensure better co-ordination, intelligence sharing and faster response times.