Top 10 Highest Paid CEOs In Nigeria (2022)

Highest Paid Chief Executive Officers in Nigeria 

To successful drive a firm to profitability and growth especially in nation state like Nigeria characterized by inconsistency in legislation and modalities is a daunting task.

highest paid ceos in nigeria

The overall running and management of a firm falls on the table of the chief executive officer (CEO).

From layman’s view and from the position of the uniformed, the CEO position can be viewed as the most less work loaded position in the firm.As in most times, the CEOs are seen either in social function or exotic office with cup of tea.

Far from reality, in every firm or coy, no employee works more than the chief executive officer.

The position of chief executive officer places enormous responsibility on the shoulder of these great men.

The CEO position makes them involved in all departments of the company. In other words, the CEO does virtually every duty in the firm as the growth or decline of a firm is determined by his or her decisions.

Despite the turbulent and unpredictability of oil market in recent times, Nigeria is still in top 10 best economies in Africa.

Annually in Nigeria, New firms are born as also some multinationals makes entry into the Africa largest market.

Some of the biggest companies in Africa are either Nigerian owned firms or operates in the country.

These top firms annually rake up billions on profit. The chief executive officers who manages some of the biggest companies in Nigeria are some of the smartest people you do meet in the business world.

This is because the challenging business environment in Nigeria make no room for survival of dull and lazy investors and entrepreneurs.

The chief executive officers of top companies in Nigeria are not only smart people but they are also some of the best paid people in the country.

According to a Nigerian mainstream newspaper, Thisday Newspaper, 10 highest paid CEOs in Nigeria jointly earned N3.5 billion ($8. 918 million) for the year 2019.

The report showed that 10 highest paid CEOs in Nigeria drive some of the Nigeria’s most delicate private sectors like Telecommunications, banking and oil & gas.

Below are the list of best and highest paid CEOs in Nigeria.

Best Paid CEOs In Nigeria

Mr. Ferdinand Moolman (CEO MTN Nigeria)

MTN CEO is the highest earning CEO in Nigeria. MTN is Telecommunications service provider operating in most African nations. Its Nigerian business known as Mtn Nigeria is manage by Mr. Ferdinand Moolman.

Mr. Ferdinand Moolman is the highest paid chief executive officer (CEO) in Nigeria with a total remuneration N585.94 million for the year 2019.

Mr. Adewale Tinubu (CEO Oando Plc)

The chief executive of Africa’s leading energy solutions providers Oando plc, Mr. Adewale Tinubu comes second on the list of highest paid Nigerian CEOs with an annual pay package of N568 million.

Mr. Ojenekwu Avuru (Former CEO Seplat)

Another top paid CEO in Nigeria is Mr. Ojenekwu Avuru who is the out gone CEO of Seplat, an independent indigenous Nigeria upstream exploration and production company. He is the third highest paid CEO for the year 2019.

His yearly remunerations stood at N440 million. Roger Brown has been appointed to replace Mr. Avuru.

Mr. Segun Agbaje (CEO GTBank)

Also earning very highly is the chief executive of one of Nigerian’s New generation Bank, Guaranty Trust Bank, Mr. Agbaje whose paycheck is N399.7 million per annum.

This pay makes Mr. Segun Agbaje the highest paid bank CEO in Nigeria.

Mr. Yaw Nsarkoh (CEO Unilever)

Mr. Yaw Nsarkoh, the CEO of Unilever Nigeria Plc made the list of best paid chief executive officers with whopping annual earnings of N302.52 million.

Mr. Michel Purcherco (CEO Lafarge)

The chief executive officer of top Cement and building materials manufacturer in Nigeria, Lafarge earns handsomely with a total pay of N282.380 million annually. He is one of top CEOs in Nigeria with highest salary.

Mr. Jordi Borrut Bel (CEO Nigeria Breweries)

Hard not to make the list of top earning chief executive is the CEO of Nigeria Breweries, Mr. Jordi Borrut Bel whose annual remunerations is pegged at N271 million.

Mr. Mauricio Alarcon (CEO Nestle)

One of the largest foods and beverage companies in Africa is Nestle Nigeria plc. This been the case, it is not by chance that her CEO, Mr. Mauricio Alarcon takes home N218.08 million every year. One of the biggest annual take homes in the country. This salary put Mr. Alarcon in the echelons of highest earning CEOs in the country.

Mr. Lars Richter (CEO Julius Berger Nigeria)

Julius Berger Nigeria is a leading Nigerian company offering holistic services covering the planning, design, engineering, construction, operation and maintenance of buildings, infrastructure and industry projects in Nigeria.

Mr. Lars Ritcher who is the CEO of the engineering company is on the list of best paid CEOs in Nigeria. His annual pay is N217.07 million.

Mr. Baker Magunda (CEO Guinness Nigeria)

Mr. Baker Magunda, who is the chief executive officer of one of the world most renowned brewery company operating in Nigeria, Guinness Nigeria also made the list of highest paid Nigerian CEOs with an annual pay of N193 million.


The Author

Emmanuel Igwenagu

Igwenagu Emmanuel is the founder of Nigerian Informer. He holds B.A, M.Sc in Mass Communication. He is a Communication researcher and 112 emergency help line dispatcher.

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