Meet Nigeria’s Highest-Paid CEOs

Nigeria’s biggest listed companies posted stronger financial performances in 2025, with growth across telecoms, energy, cement, banking, and consumer goods sectors translating into significant executive compensation.

According to audited financial statements reviewed, the highest-paid CEOs in Nigeria collectively earned about N13.8 billion in 2025, reflecting company size, profitability, operational complexity, and sector influence.

Here are some of the top-earning corporate leaders shaping Nigeria’s business landscape:

Roger Brown — Seplat Energy Plc
CEO Pay: N4.79 billion

Roger Brown leads Seplat Energy, one of Nigeria’s leading indigenous energy companies. A chartered accountant with over 25 years of experience in finance, infrastructure, and emerging markets, Brown previously served as Managing Director of Oil & Gas EMEA at Standard Bank Group before becoming Seplat CEO in 2020.

Under his leadership, Seplat recorded N4.14 trillion in revenue in 2025, with profit after tax rising to N241.6 billion.

Karl Toriola — MTN Nigeria
CEO Pay: N2.91 billion

Karl Toriola is the CEO of MTN Nigeria, the country’s largest telecommunications operator. An engineer and telecom executive with more than two decades of industry experience, Toriola has held leadership roles across MTN Group operations in Africa and previously worked with Ericsson.

MTN Nigeria generated N5.20 trillion in revenue in 2025 and returned to profitability with N1.11 trillion in profit after tax.

Arvind Pathak — Dangote Cement Plc
CEO Pay: N1.66 billion

Arvind Pathak heads Dangote Cement, Africa’s largest cement producer. He joined the company after decades in the cement and manufacturing industry, with previous leadership roles at Reliance Cement, Adani Enterprises, and Birla Corp.

Dangote Cement posted N4.31 trillion in revenue in 2025, while profit after tax exceeded N1 trillion.

Thibaut F. B. Boidin — Nigerian Breweries Plc
CEO Pay: N1.29 billion

Thibaut Boidin became CEO of Nigerian Breweries in 2025 after serving in several senior leadership positions within the HEINEKEN Group across Europe. Before joining the corporate sector, he also served in the French Armed Forces.

Under the company’s recovery drive, Nigerian Breweries returned to profitability with N99.1 billion in profit after tax.

Wassim Elhusseini — Nestlé Nigeria Plc
CEO Pay: N874 million

Wassim Elhusseini has built his career within Nestlé across the Middle East and North Africa region, leading sales, category development, and market expansion initiatives before becoming Managing Director of Nestlé Nigeria in 2020.

Nestlé Nigeria rebounded strongly in 2025, recording N1.21 trillion in revenue and returning to profitability.

Lolu Alade-Akinyemi — Lafarge Africa Plc
CEO Pay: N711 million

Lolu Alade-Akinyemi is a seasoned business executive with experience spanning finance, supply chain, sales, and business development. Before becoming CEO of Lafarge Africa, he held executive roles at Coca-Cola, ExxonMobil, and PZ Cussons.

Lafarge Africa crossed the N1 trillion revenue mark in 2025, while profit after tax surged by more than 170%.

Segun Agbaje — GTCO Plc
CEO Pay: N485 million

Segun Agbaje is one of Nigeria’s most respected banking executives, with over 30 years of experience in commercial and investment banking. He transformed GTBank into one of Africa’s leading financial institutions before becoming Group CEO of GTCO in 2021.

GTCO recorded gross earnings of N2.15 trillion in 2025, maintaining its position among Nigeria’s strongest financial institutions.

The rankings highlight how Nigeria’s largest corporations continue to reward leadership amid rising competition, digital transformation, and expanding market opportunities.