It’s pretty easy to tell who the top earner of a company is when you step in. you guessed right, it’s usually the CEO. Most times the companies success determines every CEO’s earning. here is a compiled list of a few of Nigeria’s top earners according to 2018 financial report of companies in Nigeria.
I bet you would not be completely shocked by the list.
Meet the top 10 list of highest-paid bosses in Nigeria:
MD of United Bank for Africa: Kennedy Uzoka
as the Group Managing Director of United Bank for Africa Plc (UBA), Uzoka is one of the country’s highly-rated bankers. 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. His annual remuneration is N190 million meaning he makes approximately N520,548 thousand daily weekends included.
MD/ CEO, Nigerian Breweries Plc: Jordi Borrut Bel
Jordi Borrut Bel is one of the top earners CEOs in the country, with an annual remuneration of N190 Million that is approximately earning N520,548 thousand daily. He is the CEO of the nation’s biggest brewer, Nigerian Breweries Plc. He was the Managing Director of Brarudi S.A, a Heineken subsidiary in Burundi Prior to his appointment in January 2018.
He has also held different top management positions of different companies across the world and an alumnus of Harvard Business School.
Group CEO Forte Oil Plc: Akin Akinfemiwa
Forte Oil Plc. (formally African Petroleum Plc.) is a foremost indigenous major marketer of refined petroleum products with a strong presence in the 36 states of the federation and Abuja. According to recent reports, its group chief executive officer, Akinfemiwa’s annual salary is N191 Million (N523, 287 per day) earning him a spot on the list of the highest-paid Nigerian Earners.
Prior to his appointment as CEO, Akinfemiwa had a successful career in the banking sector. He served as the CEO of Skye Bank Plc, until July 31, 2010. His expertise covers a range of areas, including; strategic planning and management, corporate banking, project financing, leadership and advisory services. He has also served as managing director/CEO of Prudent Bank.
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.
MD/CEO Nestle Nigeria Plc: Mauricio Alarcon
Mauricio Alarcon graduated from Manchester University as an engineer in 1997 and has since 1999 worked with Nestle global. He assumed the position of MD/CEO of Nestle Nigeria Plc company on October 1st, 2016. his current annual remuneration according to most recent financial report is N210 Million.
MD Unilever Nigeria Plc: Yaw Nsarkoh
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
Segun Agbaje – CEO GTBank Plc
With his over nineteen years’ banking experience, The managing director/CEO of tier one lender, Guaranty Trust Bank (GTB) Olusegun J.K. Agbaje obviously makes the list of the highest-paid Nigerian earners. His GT bank prides itself as “the biggest and most profitable bank in Nigeria” and one of the biggest companies on the shores of West Africa. Agbaje co-founded the GTB in 1990 with Tayo Aderinokun who died in 2011. His annual take-home is a whopping N384 million.
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.
Joseph Makoju – CEO Dangote Cement
His earning should not come as a shock to you considering he works for one of the top companies in Nigeria. Joseph Makoju was appointed to the Board of Dangote Cement in 2010 and became its Acting Group Chief Executive in January 2018. smiling home with an earning of N429 million per annum
CEO Guinness Nigeria Plc: Baker Magunda
leaving 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. he makes approximately N461 million per annum
Augustine Ojunekwu Avuru – MD/CEO Seplat Plc
Mr. Avuru is a co-founder of Seplat and became CEO on 1 May 2010, with a current annual earning of N483 million
Seplat Petroleum Development Corporation is one of the leading crude oil exploration companies in Nigeria currently listed on both the London Stock Exchange and Nigerian Stock Exchange.
CEO, Oando Plc: AdewaleTinubu
According to recent financial reports, the highest paid on the list of highest earners Nigerian CEO’s in the oil sector is Adewale Tinubu, with a total annual remuneration of N568 Million, an equivalent of N1.6million per day, its difficult to find something he can’t afford
Tinubu is the group chief executive of Oando PLC, a company which has been hailed as Africa’s leading indigenous energy solutions provider listed on the stock exchange in Nigeria and Johannesburg. Tinubu also has a record of long-time service, having served on the board of various blue-chip companies as chairman and director.