Nigeria’s executive compensation landscape reflects the growing scale and profitability of the country’s leading listed companies. From energy and telecommunications to banking, manufacturing, and consumer goods, top chief executives continue to earn substantial remuneration packages tied to corporate performance, strategic leadership, and shareholder value creation. Based on disclosed annual remuneration for 2025, these are the highest-paid CEOs in Nigeria, with approximate U.S. dollar equivalents calculated using an exchange rate of ₦1,600 to US$1.
1. Roger Brown — Chief Executive Officer, Seplat Energy Plc
Annual Salary: ₦4.79 billion (approximately US$3.0 million)
Roger Brown leads Seplat Energy, one of Nigeria’s foremost indigenous energy companies. Under his leadership, the company has expanded its upstream and gas operations while strengthening its position within Africa’s energy sector, making him the highest-paid CEO among Nigeria’s listed companies.
2. Karl Toriola — Chief Executive Officer, MTN Nigeria Plc
Annual Salary: ₦4.69 billion (approximately US$2.93 million)
Karl Toriola oversees Nigeria’s largest telecommunications company, driving growth in digital services, fintech, broadband expansion, and subscriber acquisition. His compensation reflects MTN Nigeria’s scale and continued leadership in the country’s telecom industry.
3. Adegbite Falade — Managing Director and CEO, Aradel Holdings Plc
Annual Salary: ₦2.44 billion (approximately US$1.53 million)
Adegbite Falade has played a pivotal role in Aradel Holdings’ expansion across Nigeria’s upstream oil and gas sector. His leadership has supported strong financial performance and increased investor confidence, positioning the company among the country’s fastest-growing energy firms.
4. Wale Tinubu — Group Chief Executive, Oando Plc
Annual Salary: ₦1.80 billion (approximately US$1.13 million)
As one of Africa’s longest-serving energy executives, Wale Tinubu has transformed Oando into a diversified indigenous energy company with operations spanning exploration, production, trading, and renewable energy initiatives.
5. Arvind Pathak — Chief Executive Officer, Dangote Cement Plc
Annual Salary: ₦1.66 billion (approximately US$1.04 million)
Arvind Pathak heads Africa’s largest cement manufacturer, overseeing operations in several African countries. His leadership continues to strengthen Dangote Cement’s manufacturing capacity, operational efficiency, and market leadership across the continent.
6. Samba Seye — Managing Director and CEO, TotalEnergies Marketing Nigeria Plc
Annual Salary: ₦1.06 billion (approximately US$663,000)
Samba Seye leads one of Nigeria’s leading downstream energy companies, overseeing fuel distribution, lubricants, aviation fuel, and sustainable energy initiatives that support the country’s evolving energy landscape.
7. Adaora Umeoji — Group Managing Director and Chief Executive Officer, Zenith Bank Plc
Annual Salary: ₦874 million (approximately US$546,000)
Adaora Umeoji made history as the first female Group Managing Director and CEO of Zenith Bank. Her leadership represents a landmark moment in Nigeria’s banking industry while reinforcing Zenith Bank’s reputation as one of Africa’s most profitable financial institutions. (Salary figure based on the list provided.)
8. Wassim Elhusseini — Chief Executive Officer, Nestlé Nigeria Plc
Annual Salary: ₦874 million (approximately US$546,000)
Wassim Elhusseini has guided Nestlé Nigeria through a period of strategic transformation, strengthening operational resilience and maintaining the company’s position as one of Nigeria’s leading consumer goods manufacturers.
9. Lolu Alade-Akinyemi — Group Managing Director and Chief Executive Officer, Lafarge Africa Plc
Annual Salary: ₦711 million (approximately US$444,000)
Lolu Alade-Akinyemi has overseen Lafarge Africa’s continued growth within Nigeria’s construction and infrastructure sectors, driving operational excellence and supporting the country’s expanding building materials market.
10. Segun Agbaje — Group Chief Executive Officer, Guaranty Trust Holding Company Plc
Annual Salary: ₦471 million (approximately US$306,000)
Segun Agbaje is one of Nigeria’s most respected banking executives, having led GTCO through its evolution from a commercial bank into a diversified financial services holding company. Under his leadership, the Group has expanded beyond banking into payments, pension administration, asset management, and wealth management, while maintaining one of the strongest profitability and return-on-equity records in Nigeria’s financial sector. His 2025 remuneration of ₦485 million places him among the country’s highest-paid banking executives and rounds out the list of Nigeria’s top-paid CEOs.
Methodology
This ranking is based on executive remuneration figures disclosed by publicly listed Nigerian companies for the 2025 financial year. Salary figures represent reported annual compensation packages and are presented in Nigerian naira, with approximate U.S. dollar equivalents calculated using an indicative exchange rate of ₦1,600 per US$1 for comparison purposes. Information was compiled from audited corporate financial statements and independent market analysis by Nairametrics.
