From Premium Times, here are the highest earning CEOs in Nigeria, at least for publicly traded or reported companies. Relatively, the numbers are not big when benchmarked with what men pocket in America. But by per capita, they are excessive as Nigeria is a small economy.
As listed by the report, Nigeria’s top ten executive remunerations in 2019 were: Ferdinand Moolman, MTN, ?585.94 million; Adewale Tinubu, Oando, ?568 million; Ojenekwu Avuru, Seplat Petroleum Development Company, ?440 million; Segun Agbaje, GTBank, ?399.7 million; and Yaw Nsarkoh, Unilever, ?302.52 million.
Other are: Michel Purchercos, Lafarge, ?282.38 million; Jordi Borrut Bel, Nigerian Breweries Plc, ?271 million; Mauricio Alarcon, Nestle, ?218.08 million; Lars Richter, Julius Berger, ?217.07 million; Baker Magunda, Guinness, ?193 million; and Emeka Emuwa, Union Bank, ?172 million.
In the banking sector, the trio of Segun Agbaje of GTBank with ?399.7 million, Emeka Emuwa of Union Bank with ?172 million, and Yinka Sanni of Stanbic IBTC with ?155 million were paid the highest remuneration in 2019.
In comparison with previous years though, the executives paycheck for the year did not closely match the profit generated in 2019, save GTBank which recorded the second-highest profit before tax of ?243 million and paid its director the highest remuneration in the sector.