Top 10 highest paid CEOs in Nigeria

The Nigerian corporate sector continues to experience significant financial growth, driven by strategic leadership across key industries.

As of early 2025, the number of companies with a market capitalization exceeding ₦1 trillion has expanded to 13, reflecting the resilience of the nation’s stock market.

Notably, Dangote Cement made history by becoming the first Nigerian company to surpass a ₦10 trillion market capitalization, setting a new benchmark for business success in the country.

Amid economic challenges such as high inflation and exchange rate volatility, Nigeria’s top executives have steered their companies toward growth, earning substantial compensation for their leadership.

In 2025, the highest-paid Managing Directors (MDs) and Chief Executive Officers (CEOs) in Nigeria amassed a combined ₦7.9 billion in remuneration, a significant increase from ₦4.227 billion in 2022.

Below is a list of Nigeria’s highest-earning CEOs in 2025, including their backgrounds and contributions to their respective industries.

Summary of highest paid CEOs in Nigeria 

 Rank  CEO  Company  Annual income  

1.  Ebenezer Onyeagwu  Zenith Bank  2.16B  

2 . Karl Toriola  MTN Nigeria  1.6B

3. Lars Richter Julius Berger  888M  

4  Roger Brown  Seplat Energy  746M

5. Arvind Pathak  Dangote Cement  609M

6. Samba Seye  Total Energies  544M

7  Hans Essaadi  Nigerian Breweries 486M

8  Segun Agbaje Guaranty Trust Holding 457M

9. Tim Kleinebenne  Unilever Nigeria 313M  

10. Babatunde Fajemirokun  AIICO Insurance PLC  233M

1. Ebenezer Onyeagwu (Zenith Bank) – ₦2.16 Billion

Ebenezer Onyeagwu tops the list as the highest paid CEO in Nigeria. He has been at the helm of Zenith Bank since June 2019, leading one of Nigeria’s most profitable financial institutions.

With over three decades of banking experience, Onyeagwu has played a pivotal role in expanding Zenith Bank’s market dominance and profitability.

He holds a Master’s degree in Financial Economics from the University of London and is a Fellow of the Chartered Institute of Bankers of Nigeria.

2. Karl Toriola (MTN Nigeria) – ₦1.6 Billion

Karl Toriola was appointed CEO of MTN Nigeria in March 2021. With a deep background in telecommunications, he has been instrumental in expanding MTN’s market share and driving digital transformation.

Prior to becoming CEO, he served as the Vice President for West and Central Africa at MTN Group.

Toriola holds an Engineering degree from the University of Ife (now Obafemi Awolowo University) and has completed executive training at institutions like Harvard Business School.

3. Lars Richter (Julius Berger) – ₦888 Million

Lars Richter is a seasoned construction and engineering expert who took over as CEO of Julius Berger Nigeria Plc in 2018.

Under his leadership, the company has executed major infrastructural projects across Nigeria, maintaining its reputation as a top construction firm.

Richter has extensive experience in project management and civil engineering, having worked on major international projects before joining Julius Berger.

4. Roger Brown (Seplat Energy) – ₦746 Million

Roger Brown, a British national, was appointed CEO of Seplat Energy in 2020, bringing over 25 years of experience in financial management and energy investments.

Prior to becoming CEO, he served as Seplat’s Chief Financial Officer. His leadership has positioned Seplat as a major player in Nigeria’s oil and gas industry, focusing on energy transition and sustainability.

5. Arvind Pathak (Dangote Cement) – ₦609 Million

Arvind Pathak was appointed CEO of Dangote Cement in 2023. With extensive experience in the cement industry, he previously held leadership positions at ACC Limited and Reliance Cement in India.

Pathak has been instrumental in expanding Dangote Cement’s operations across Africa, ensuring consistent growth and market dominance.

6. Samba Seye (Total Energies) – ₦544 Million

Samba Seye was appointed Managing Director of Total Energies Nigeria in 2021.

With a background in petroleum engineering and business strategy, he has played a critical role in Total’s operations in Nigeria, focusing on sustainability and clean energy initiatives.

7. Hans Essaadi (Nigerian Breweries) – ₦486 Million

Hans Essaadi became CEO of Nigerian Breweries in 2021. With over 25 years of experience in the beverage and brewing industry, he has led the company in expanding product offerings and navigating economic challenges.

He previously held executive roles in Heineken’s subsidiaries across different markets.

8. Segun Agbaje (Guaranty Trust Holding) – ₦457 Million

Segun Agbaje has been a key figure in Nigeria’s banking sector, serving as CEO of GTBank before transitioning to lead Guaranty Trust Holding Company (GTCO).

Under his leadership, GTCO has expanded its footprint in financial services, including fintech and asset management. Agbaje holds an MBA from the University of San Francisco and has been instrumental in GTCO’s digital banking evolution.

9. Tim Kleinebenne (Unilever Nigeria) – ₦313 Million

Tim Kleinebenne is the Managing Director of Unilever Nigeria, overseeing operations in one of Nigeria’s largest consumer goods companies.

He has extensive experience in supply chain management and business operations, having worked with Unilever across multiple global markets before his Nigerian appointment.

10. Babatunde Fajemirokun (AIICO Insurance PLC) – ₦233 Million

Babatunde Fajemirokun has been CEO of AIICO Insurance since 2019, bringing a wealth of experience in risk management, financial services, and corporate strategy.

Under his leadership, AIICO has strengthened its position in Nigeria’s insurance sector, expanding its product offerings and customer base.