In this article, Catalystng.com takes a look at the top 10 highest-paid CEOs in Nigeria in 2026, highlighting the executives who earned the biggest compensation packages across major sectors of the economy.
From oil and gas to telecommunications, banking, cement, breweries, and consumer goods, executive remuneration reflected the size of the companies, the complexity of operations, and, in many cases, the financial performance recorded during the year.
The figures also reveal the significant gap in executive compensation across industries, with CEOs in the energy and telecom sectors reportedly earning far more than their counterparts in manufacturing and banking.
The reported CEO pay covers total annual emoluments disclosed in audited financial statements, including salaries, bonuses, allowances, pension contributions, and other forms of compensation. However, non-cash share-based adjustments were excluded where separately reported.
In cases where companies experienced leadership transitions during the year, the remuneration figures represent the total compensation attached to the office and may include payments made to both outgoing and incoming chief executives.
Due to the unique reporting structure used by financial institutions, performance for banks was measured using gross earnings, while non-bank companies were assessed based on revenue generation.
According to the data reviewed, the top 10 highest-paid CEOs in Nigeria collectively earned an estimated N13.8 billion in 2025.
Below is the list of the top 10 highest-paid CEOs in Nigeria
1. Roger Brown, Seplat Energy Plc (N4.79 billion)
Roger Brown, Chief Executive Officer of Seplat Energy Plc, emerged as the highest-paid CEO in Nigeria for 2025 after earning a total compensation package of N4.79 billion, up from N3.91 billion recorded in 2024.
Under his leadership, Seplat Energy posted impressive financial growth, with revenue rising to N4.14 trillion in 2025 from N1.65 trillion in 2024, representing a 150.39% increase.
The company’s profit after tax also climbed significantly to N241.6 billion, compared to N207.9 billion recorded in the previous year, reflecting a 16.22% growth.
Roger Brown joined Seplat in 2013 as Chief Financial Officer before becoming the company’s CEO in August 2020.
A qualified chartered accountant, Brown possesses more than 25 years of experience spanning finance, emerging markets, energy, and infrastructure transactions.
Before joining Seplat Energy, he served as Managing Director of Oil and Gas EMEA at Standard Bank Group.
His expertise in mergers and acquisitions, debt financing, and equity capital markets has been widely credited as one of the major driving forces behind Seplat’s expansion and continued growth within Nigeria’s energy sector.
2. Karl Toriola, MTN Nigeria (N2.91billion)
Karl Toriola, Chief Executive Officer of MTN Nigeria, earned N2.907 billion in total compensation in 2025, compared with N3.143 billion recorded in 2024.
Despite the decline in his remuneration year-on-year, Toriola remained among the highest-paid CEOs of publicly listed companies in Nigeria.
Under his leadership, MTN Nigeria recorded strong financial growth, with revenue rising to N5.20 trillion in 2025 from N3.358 trillion in 2024, representing a 54.92% increase.
The telecommunications giant also returned to profitability, posting a profit after tax of N1.11 trillion after recording a N399.4 billion loss in 2024.
Karl Toriola first joined MTN Nigeria in 2006 as Chief Technical Officer and later occupied several strategic leadership positions within the MTN Group, including roles in the West and Central Africa region as well as MTN Cameroon.
With over 24 years of experience in the telecommunications and technology sectors, he previously worked with companies such as Vmobile Nigeria, Ericsson Nigeria, and Ericsson Switzerland.
Toriola holds a degree in Electronic and Electrical Engineering from Obafemi Awolowo University and a master’s degree in Communication Systems from the University of Wales, Swansea.
3. Arvind Pathak, Dangote Cement Plc (N1.66billion)
Arvind Pathak, Group Managing Director and Chief Executive Officer of Dangote Cement Plc, earned N1.659 billion in total compensation in 2025, compared with N1.583 billion recorded in 2024.
His remuneration positioned him among the highest-paid executives across Nigeria’s publicly listed companies.
Under his leadership, Dangote Cement recorded strong financial growth, with revenue rising to N4.31 trillion in 2025 from N3.58 trillion in 2024, representing a 20.28% increase.
The company also witnessed a major surge in profitability, as profit after tax doubled to N1.01 trillion from N503.2 billion recorded in 2024, reflecting an impressive 101.67% growth.
Arvind Pathak is an experienced cement industry executive who assumed office as Group Managing Director and CEO of Dangote Cement in January 2023.
Before his appointment, he served as Deputy Group Managing Director and Group Chief Operating Officer at the company.
He also previously held top leadership positions at companies including Birla Corporation, Adani Enterprises, and Reliance Cement.
Pathak holds a postgraduate degree in Business Administration and Management from the Indian Institute of Management Mumbai and an engineering degree from the Indian Institute of Technology Banaras Hindu University.
4. Thibaut F. B. Boidin, Nigerian Breweries Plc (N1.29 billion)
Nigerian Breweries Plc recorded CEO compensation of N1.29 billion in 2025, compared with N1.14 billion in 2024, amid a leadership transition within the company.
The year saw Thibaut F. B. Boidin assume office as Managing Director and Chief Executive Officer following the completion of Hans Essaadi’s tenure.
Despite economic challenges, Nigerian Breweries posted strong financial growth, with revenue rising to N1.47 trillion in 2025 from N1.08 trillion in 2024, representing a 35.32% increase.
The brewing giant also returned to profitability, recording a profit after tax of N99.1 billion after posting a loss of N145.0 billion in 2024.
Boidin officially became Managing Director/CEO and board member of Nigerian Breweries on July 1, 2025.
He joined the HEINEKEN Group in 2017 as Deputy CEO of France Boissons before taking on several transformation and leadership roles across France and Europe.
Before his appointment in Nigeria, he served as Managing Director of HEINEKEN Romania.
Earlier in his career, Boidin worked as an officer in the French Armed Forces and later occupied senior management positions at companies such as Elis and Veolia.
5. Wassim Elhusseini, Nestlé Nigeria Plc (N874 million)
Wassim Elhusseini, Managing Director and Chief Executive Officer of Nestlé Nigeria Plc, saw his annual compensation increase to N874 million in 2025, compared with N831 million recorded in 2024.
The increase came during a year in which Nestlé Nigeria successfully returned to profitability after facing financial challenges in 2024.
The company recorded revenue of N1.21 trillion in 2025, up from N958.8 billion in 2024, representing a 25.97% growth.
Nestlé Nigeria also rebounded strongly with a profit after tax of N105.0 billion after recording a loss of N164.6 billion in the previous year.
Elhusseini joined Nestlé Kuwait in 2002 and steadily built his career through several leadership roles in sales, category development, and country management across the Middle East.
He later became Sales Director for Nestlé Middle East, where he played a key role in the establishment of the MENA region operations covering 16 countries.
Wassim Elhusseini was appointed Managing Director of Nestlé Nigeria in September 2020.
6. Lolu Alade-Akinyemi, Lafarge Africa Plc (N711 million)
Lolu Alade-Akinyemi, Group Managing Director and CEO of Lafarge Africa Plc, earned N711 million in 2025, up from N515 million in 2024, following a strong financial performance that saw the company surpass the N1 trillion revenue milestone.
Lafarge Africa posted revenue of N1.07 trillion in 2025, representing a 53.04% increase from the N696.8 billion recorded in 2024. Profit after tax also climbed significantly to N273.1 billion from N100.1 billion in the previous year, marking a 172.72% rise.
Alade-Akinyemi assumed the role of GMD/CEO in July 2023 after serving as the company’s Chief Financial Officer and Supply Chain Director. He brings more than 25 years of experience spanning finance, supply chain, sales, and business development, with previous stints at PZ Cussons, Coca-Cola, and ExxonMobil.
He holds a degree in Economics from University of Essex and an MBA from Edinburgh Business School. He has also attended executive programmes at INSEAD, IMD, and IVEY Business School.
In addition to his corporate responsibilities, he serves as Chairman of Ashakacem Limited and is a member of the advisory board of the Climate Governance Initiative Nigeria.
7. Segun Agbaje, Guaranty Trust Holding Company Plc (N485 million)
Segun Agbaje, Group Chief Executive Officer of Guaranty Trust Holding Company Plc, earned N485 million in 2025 despite a decline in the group’s profitability compared to the previous year.
GTCO recorded gross earnings of N2.15 trillion in 2025, largely flat against the N2.148 trillion posted in 2024. However, profit after tax fell by 14.94% to N865.7 billion from N1.02 trillion recorded a year earlier.
Agbaje brings more than three decades of experience across investment, commercial, and international banking. He holds a bachelor’s degree in Accounting and an MBA from the University of San Francisco, and is also an alumnus of Harvard Business School.
Before assuming the position of Group CEO of GTCO in 2021, Agbaje served as Managing Director and CEO of Guaranty Trust Bank from 2011 to 2021.
Under his leadership at GTBank, the institution’s customer base expanded from fewer than 3 million customers to more than 24 million, while profit before tax grew substantially. As Group CEO of GTCO, he now oversees the company’s banking operations alongside its growing interests in payments, asset management, and pension fund administration.
8. Yusuf Haliru Binji, BUA Cement Plc (N371 million)
Yusuf Haliru Binji, Managing Director and CEO of BUA Cement Plc, earned N371 million in 2025, up from N281 million in 2024, following a year of exceptional earnings growth for the company.
BUA Cement reported revenue of N1.18 trillion in 2025, representing a 34.57% increase from the N876.5 billion posted in 2024. Profit after tax rose sharply to N356.0 billion from N73.9 billion in the previous year, marking a 381.72% jump and placing the company among the top-performing listed industrial firms in terms of profit growth.
Binji holds a degree in Chemical Engineering from Ahmadu Bello University and a master’s degree in Chemical Process Engineering from University College London.
He has more than 28 years of experience in the cement industry, having worked with companies such as Cement Company of Northern Nigeria, BUA International, and Obu Cement, building extensive expertise in cement production and operations.
9. Adaora Umeoji, Zenith Bank Plc (N367 million)
Adaora Umeoji, Group Managing Director and CEO of Zenith Bank Plc, earned N367 million in 2025, a sharp increase from the N174 million received in 2024, as the bank maintained its position among Nigeria’s largest and most profitable financial institutions.
Zenith Bank posted gross earnings of N4.19 trillion in 2025, compared with N3.97 trillion in 2024, representing a 5.57% rise. Profit after tax came in at N1.04 trillion, slightly higher than the N1.03 trillion recorded in the previous year.
Umeoji made history as the first woman to lead Zenith Bank following her appointment as CEO. She brings close to 30 years of banking experience, including more than two decades in executive leadership roles within the bank. She also serves as Chairperson of Zenith Bank UK and as a non-executive director of Zenith Bank Ghana.
Her academic and executive education background includes programmes at Harvard Business School, University of Oxford, Columbia Business School, MIT Sloan School of Management, Wharton School, and University of Salford.
She holds degrees in sociology, accounting, and law, in addition to an MBA and a doctorate in business administration.
Outside banking, Umeoji is widely recognised for her philanthropic efforts through the Pink Breath Cancer Care Foundation and the Adorable Foundation.
10. Girish Sharma, Guinness Nigeria Plc (N324 million)
Girish Sharma, Managing Director and CEO of Guinness Nigeria Plc, earned N324 million in 2025, down from N756 million in 2024, despite the company’s strong financial recovery during the year.
Guinness Nigeria recorded revenue of N471.2 billion in 2025, representing a 57.34% increase from the N299.5 billion posted in 2024. The company also returned to profitability, reporting profit after tax of N41.5 billion compared with a loss of N54.8 billion in the previous year.
Sharma brings extensive experience in the consumer goods sector to the role. He holds an MBA in Marketing from the University of Kent and has completed executive leadership programmes at Harvard University, Stanford University, and University of Cambridge.
Before joining Guinness Nigeria, he served as CEO of Tolaram’s joint venture with Colgate-Palmolive, where he played a key role in driving revenue growth.
He also worked as Chief Operating Officer of Dufil Prima Foods, overseeing the expansion of Indomie into one of the leading household brands in Nigeria and Ghana.
