Top 10 Highest Paid CEOs In Nigeria (See How Much They Earn Per Year)

Most Chief Executive officers in every companies are in most cases the highest earner in their organization and in many cases their earnings increase or decrease based on the company’s success.

According to the recently released 2018 financial report of companies in Nigeria, the CEOs in Oil & Gasindustry are the richest.

Below is top 10 list of highest paid CEOs in Nigeria:-
1. Adewale Tinubu – CEO, Oando Plc

Adewale Tinubu is the Group Chief Executive of Oando PLC, Africa’s leading indigenous energy solutions provider listed on the Nigerian and Johannesburg Stock Exchanges.

Earnings:- ₦568 million per annum

2. Augustine Ojunekwu Avuru – MD/CEO Seplat Plc

Mr. Avuru is a co-founder of Seplat and became CEO on 1 May 2010.

Seplat Petroleum Development Corporation is one of the leading crude oil exploration companies in Nigeria currently listed on both London Stock Exchange and Nigerian Stock Exchange.

Earnings:- ₦483 million per annum

3. Baker Magunda – CEO Guinness Nigeria Plc

From Meta Abo Breweries in Ethiopia, Baker Magunda joined Guinness Nigeria Plc in May 2018.

He started his career as a Market Development Manager at Coca-Cola Sabco century bottling company from 1996 till 1999.

Earnings:- ₦461 million per annum

4. Joseph Makoju – CEO Dangote Cement

Joseph Makoju was appointed to the Board of Dangote Cement in 2010 and became its Acting Group Chief Executive in January 2018.

Earnings:- ₦429 million per annum

5. Segun Agbaje – CEO GTBank Plc

With his over nineteen years’ banking experience, Mr. Segun Agbaje is the CEO of tier one lender, GTBank.

He became an Executive Director in 2000, and then a Deputy Managing Director in 2002, before eventually becoming the CEO.

Agbaje has an MBA from the University of San Francisco. He is also a Harvard Business School alumnus.

Earnings:- ₦384 million per annum

6. Yaw Nsarkoh – MD Unilever Nigeria Plc

Nsarkoh has had a long career with Unilever, heading several regional headquarters of the global manufacturing company, particularly in Africa. He has also served as a Strategic Assistant to Unilever’s President for Asia, Africa, Central, and Eastern Europe.

Other top positions he has occupied at the company include African Regional Brand Manager, Production Manager for Unilever Ghana before becoming the MD.

Earnings:- ₦330 million per annum

7. Mauricio Alarcon – MD/CEO Nestle Nigeria Plc

He assumed his position of MD/CEO in the company on October 1st, 2016. He is a graduate of engineering from Manchester University; class of 1997. And since 1999, he has been under the employ of Nestle global.

Earnings:- ₦210 million per annum

8. Akin Akinfemiwa – Group CEO Forte Oil Plc

Akinfemiwa is the GMD of Forte Oil, he studied Mechanical Engineering at the University of Ibadan and also studied at the University of Lincolnshire and Humberside for a Master’s in Business Administration, with specialization in Information Technology.

Earnings:- ₦191 million per annum

9. Jordi Borrut Bel – MD/ CEO, Nigerian Breweries Plc

Jordi Borrut Bel is the CEO of the nation’s biggest brewer, Nigerian Breweries Plc.

Prior to his appointment in January 2018, he was the Managing Director of Brarudi S.A, a Heineken subsidiary in Burundi.

He has also held different top management positions of different companies across the world. He is an alumnus of Harvard Business School.

Earnings:- ₦190 million per annum

10. Kennedy Uzoka – Group MD of United Bank for Africa Plc

Uzoka is the Group Managing Director of United Bank for Africa Plc (UBA), he has worked at UBA for more than twenty years, a career that has seen him heading different critical departments and portfolios like Head of Strategy and Business Transformation, and Head of Resources. He also supervised the bank’s businesses in New York and London.

He holds a degree in Mechanical Engineering from the University of Benin, as well as Master’s in Business Administration from the University of Lagos. He also has an AMP from Harvard Business School.

Earnings:- ₦190 million per annum

The End!!

To all aspiring CEOs in Nigeria, we hope this list will motivate you not to give up on the dream.

Meanwhile, one thing is common in their journey of life before they became CEOs, all of them have at one time or the other traveled outside Nigeria to study.

What this means however is that, if you’re aspiring to become a CEO of any big company in Nigeria, you need to have plans to study abroad, not necessarily Harvard tho.

The question still begging for an answer is