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In recent years, Nigeria has seen a significant rise in the number of successful businesses and industries. As a result, the salaries of top executives, particularly CEOs, have also seen a substantial increase.
In this article, we will explore the top 10 highest earning CEOs in Nigeria and delve into their impressive pay packages.
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1. Aliko Dangote – Dangote Group
Aliko Dangote, the founder and CEO of Dangote Group, is not only the richest person in Nigeria but also the highest earning CEO. His conglomerate spans various industries, including cement, sugar, and flour. With an estimated net worth of over $10 billion, Dangote’s annual salary is reported to be around $2 million.
2. Herbert Wigwe – Access Bank
Herbert Wigwe is the Group Managing Director and CEO of Access Bank, one of Nigeria’s leading financial institutions. Under his leadership, Access Bank has experienced remarkable growth and expansion. Wigwe’s annual salary is estimated to be around $1.5 million.
3. Segun Agbaje – Guaranty Trust Bank
Segun Agbaje serves as the CEO and Managing Director of Guaranty Trust Bank (GTBank). Known for its innovative banking solutions, GTBank has become one of the most successful banks in Nigeria. Agbaje’s annual salary is reported to be approximately $1.2 million.
4. Tony Elumelu – Heirs Holdings
Tony Elumelu is the founder and Chairman of Heirs Holdings, a conglomerate with investments in various sectors, including finance, energy, and hospitality. Elumelu’s annual salary is estimated to be around $1 million.
5. Jim Ovia – Zenith Bank
Jim Ovia, the founder and former CEO of Zenith Bank, is a well-known figure in Nigeria’s banking industry. Ovia’s contributions to the growth and success of Zenith Bank have earned him a place among the highest earning CEOs. His annual salary is reported to be approximately $800,000.
6. Austin Avuru – Seplat Petroleum Development Company
Austin Avuru is the co-founder and former CEO of Seplat Petroleum Development Company, a leading indigenous oil and gas exploration and production company in Nigeria. Avuru’s annual salary is estimated to be around $700,000.
7. Uche Orji – Nigeria Sovereign Investment Authority
Uche Orji serves as the Managing Director and CEO of the Nigeria Sovereign Investment Authority (NSIA), a government-owned investment agency. Orji’s annual salary is reported to be approximately $600,000.
8. Adewale Tinubu – Oando Plc
Adewale Tinubu is the Group CEO of Oando Plc, one of Nigeria’s largest integrated energy solutions providers. Tinubu’s annual salary is estimated to be around $500,000.
9. Kennedy Uzoka – United Bank for Africa
Kennedy Uzoka is the Group Managing Director and CEO of United Bank for Africa (UBA), one of Africa’s leading financial institutions. Uzoka’s annual salary is reported to be approximately $400,000.
10. Emeka Emuwa – Union Bank
Emeka Emuwa serves as the Group Managing Director and CEO of Union Bank, one of Nigeria’s oldest and most respected financial institutions. Emuwa’s annual salary is estimated to be around $300,000.
Conclusion
The salaries of CEOs in Nigeria have seen a significant increase in recent years, reflecting the growth and success of the country’s business landscape.
These top 10 highest earning CEOs have not only achieved remarkable success in their respective industries but have also contributed to the overall economic development of Nigeria.
It is important to note that these figures are approximate and subject to change as they are based on publicly available information and estimates. Nevertheless, they provide valuable insights into the earning potential of CEOs in Nigeria.
