Top 10 Highest-Paid CEOs in Nigeria for 2024 Revealed
The list of the highest-paid Managing Directors (MDs) and Chief Executive Officers (CEOs) in Nigeria for 2024 has been released, highlighting the substantial earnings of corporate leaders in the country’s largest publicly listed companies.
The ranking, compiled by Nairalytics from NGX-listed company disclosures, underscores the significant compensation packages enjoyed by some of Nigeria’s most influential business leaders.
1. Roger Thompson Brown – Seplat Energy (₦3.9 Billion)
Leading the list is Roger Thompson Brown, the CEO of Seplat Energy, who took home a staggering ₦3.9 billion in total compensation for 2024. Seplat Energy, a major player in Nigeria’s oil and gas sector, continues to reward its executives handsomely as it navigates the challenges and opportunities of the energy transition.
2. Karl Toriola – MTN Nigeria (₦3.1 Billion)
Second on the list is Karl Toriola, the CEO of MTN Nigeria, with a compensation package totaling ₦3.1 billion. As the head of Nigeria’s largest telecommunications company, Toriola has overseen significant growth and digital transformation within the sector.
3. Adegbite Falade – Aradel Holdings (₦2.43 Billion)
Adegbite Falade, CEO/MD of Aradel Holdings, ranks third, earning ₦2.43 billion in 2024. His leadership has been instrumental in expanding the company’s footprint in the energy sector.
4. Arvind Pathak – Dangote Cement (₦1.58 Billion)
Arvind Pathak, CEO/MD of Dangote Cement, comes in fourth, receiving ₦1.58 billion in total compensation. Dangote Cement remains one of Africa’s largest and most profitable manufacturing companies.
5. Hans Essaadi – Nigerian Breweries Plc (₦1.14 Billion)
Hans Essaadi, the CEO/MD of Nigerian Breweries Plc, rounds out the top five with a compensation package of ₦1.14 billion. His leadership in Nigeria’s competitive beverage market has been marked by strategic expansions and product innovations.
6. Dr. Samba Seye – TotalEnergies (₦1.06 Billion)
In sixth place is Dr. Samba Seye, CEO/MD of TotalEnergies, with a total compensation of ₦1.06 billion. The company remains a significant player in Nigeria’s oil and gas sector.
7. Dr. Adaora Umeoji – Zenith Bank Plc (₦874 Million)
Dr. Adaora Umeoji, GMD/CEO of Zenith Bank Plc, takes the seventh spot with ₦874 million. She is among the few women leading major financial institutions in Nigeria, reflecting her influence in the banking sector.
8. Wassim Elhusseini – Nestlé Nigeria Plc (₦831 Million)
Wassim Elhusseini, CEO/MD of Nestlé Nigeria Plc, ranks eighth with ₦831 million in compensation, reflecting the company’s dominant position in Nigeria’s food and beverage industry.
9. Segun Julius Agbaje – Guaranty Trust Bank Plc (₦471 Million)
Segun Julius Agbaje, Group CEO of Guaranty Trust Bank Plc, received ₦471 million, placing him in the ninth spot. Agbaje has been instrumental in the bank’s transformation into a leading financial services group in Africa.
10. Folasope Babasola Aiyesimoju – UAC of Nigeria Plc (₦401.4 Million)
Rounding off the top 10 is Folasope Babasola Aiyesimoju, Group CEO of UAC of Nigeria Plc, with a total compensation of ₦401.4 million. UAC remains one of Nigeria’s oldest and most diversified conglomerates, operating in the food, real estate, and logistics sectors.
These compensation figures reflect the critical role these CEOs play in steering some of Nigeria’s largest corporations through challenging economic landscapes, regulatory environments, and competitive markets.
Their leadership is instrumental in maintaining profitability, shareholder value, and long-term growth in an ever-evolving business environment.
As the Nigerian economy continues to recover and expand, the compensation of its top executives is likely to remain a closely watched indicator of corporate health and economic stability.
