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Receiving N272m to N586 million yearly, here are top 5 highest earning CEOs in Nigeria and the companies they work for





The Chief Executive Officers (CEOs) of every company shoulder the responsibility of taking the organisations to their desired heights. They take the glory when they achieve success and also take the blame when things are not working as expected.

What these CEOs earn yearly is, therefore, commensurate with their hard work. Courtesy of Nairametrics, Legit.ng brings you top five highest-earning CEOs in Nigeria.

The list focuses on what these CEOs earned in 2019.

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1. Ferdinand Moolman, MTN Nigeria

Ferdinand Moolman is the chief executive officer of MTN Nigeria Communications Plc, and he earned N586 million in 2019.

Top 10 highest earning CEO’s in Nigeria

Ferdinand Moolman. Photo credit: Nairametrics
Source: UGC

2. Austin Avuru, Seplat

Augustine Avuru is the co-founder and CEO of Seplat Petroleum Development Company Plc. In 2019, Avuru earned N440 million.

Top 10 highest earning CEO’s in Nigeria

Austin Avuru. Photo credit: Nairametrics
Source: UGC

3. Segun Agbaje, GTBank

Segun Agbaje is the CEO of Guaranty Trust Bank, and he earned N400 million in 2019. This shows an increase of N16 million from his N384 million remuneration in 2018.

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Top 10 highest earning CEO’s in Nigeria

Segun Agbaje. Photo credit: Nairametrics
Source: UGC

4. Yaw Nsarkoh, formerly with Unilever Nigeria Plc

Yaw Nsarkoh, who resigned from his position as managing director of Unilever Nigeria Plc in December 2019, earned N303 million in the year under review.

He was succeeded by Carl Raymond Cruz in January 2020.

Top 10 highest earning CEO’s in Nigeria

Yaw Nsarkoh. Photo credit: Nairametrics
Source: UGC

5. Michel Puchercos, formerly with Lafarge Africa Plc

Michel Puchercos earned N272 million in 2019 when he was still the CEO of Lafarge Africa Plc.

Puchercos resigned from Lafarge in January 2020 to join competitor brand, Dangote Cement Plc.

Top 10 highest earning CEO’s in Nigeria

Michel Puchercos. Photo credit: Nairmetrics
Source: UGC

Meanwhile, Legit.ng previously compiled a list of the 10 richest men of all time. The current world's richest man Jeff Bezos was number 9 on the list.

Genghis Khan Genghis Khan of the Mongolian Empire, who lived between 1162 and 1227, was number 10 on the list.

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In other news, the United States has announced plans to sponsor Nigerians that can come up with a programme aimed at improving the lives of youths in the south-south geopolitical zone.

The disclosure was made by the US embassy in Nigeria, which said interested individuals should submit a proposal detailing how they would organise the programme.

The embassy wrote on its official Facebook page: "Consulate General Lagos Public Affairs Section announces a Request for Statements of Interest (RSOI) from organizations interested in applying for funding to implement a youth-oriented program focused on the South-South region of Nigeria."

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Chuka (Webby) Aniemeka
Chuka (Webby) Aniemeka

Chuka is an experienced certified web developer with an extensive background in computer science and 18+ years in web design &development. His previous experience ranges from redesigning existing website to solving complex technical problems with object-oriented programming. Very experienced with Microsoft SQL Server, PHP and advanced JavaScript. He loves to travel and watch movies.

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