Why do many people care about knowing the highest-paid CEO in Nigeria? Well, anyone familiar with the salary structure of most organizations in Nigeria would agree that many people covet CEO positions because of the huge salary that normally comes with it.

This shouldn’t be surprising because Nigeria is a country with a very high population of poor people; hence, it is almost obvious that most people doing “white collar” jobs will usually aspire to attain the position with the highest pay. This among many other reasons have made us put together the below list of the highest-paid CEOs in Nigeria as well as their estimated salaries and other interesting info about them.


There is no one among the top 10 highest-paid CEOs in Nigeria who does not earn more than ₦100 million annually

1. Ferdinand Moolman (₦586 million)

As of the time of writing this article, Ferdinand Moolman is the CEO of Nigeria’s biggest telecommunication company – MTN Nigeria. He is said to be earning over ₦586 million per annum and this makes him the highest-paid CEO in Nigeria today. We were unable to find any credible record of him owning a luxury car collection or any expensive property in Nigeria but instead, we found photos of him donating vehicles to support several agencies across the country.


Ferdinand Moolman – the CEO of MTN Nigeria, by current record, is the highest-paid CEO in Nigeria

2. Michael Adenuga (Undisclosed Salary)

Yes, the popular Nigerian billionaire businessman, Michael Adenuga is not just the founder of Globacom but also the CEO of his own telecommunication company. This is the reason why his name made it to this list but we couldn’t put him as number one because we have no idea how much he pays himself as a CEO.

What we do know is that being a billionaire probably makes him qualified to have the title of the richest CEO in Nigeria. Also, we know very well that Michael Adenuga owns an impressive car collection which includes the following luxury models:

Armored Bentley Mulsanne
Mercedes-Maybach S-Class
Mercedes Benz AMG C63
Rolls-Royce Phantom


The popular Nigerian billionaire owner of Globacom, Chief Mike Adenuga is also the CEO of his company

>>> Also read: https://naijauto.com/market-news/billionaires-in-nigeria-7692

3. Adewale Tinubu (₦568 million)

Jubril Adewale Tinubu, the current CEO of Oando oil company earns a whopping ₦568 million and this makes him the second-highest paid executive officer in Nigeria. In 2017, he was only earning ₦340 million but his earnings figure grew significantly following the impressive success of Oando oil trading in 2018.


Meet Adewale Tinubu, the CEO of Oando oil company who also ranks as the second-highest-paid CEO in Nigeria

4. Ojenekwu Augustine Avuru (₦440 million)

The popular Seplat Petroleum Development Company currently pays ₦440 million per year to its versatile and charming CEO, Ojenekwu Augustine Avuru. He is said to be one of the most popular CEOs with serious passion and great wit in the Nigerian Oil & Gas trading sector.

Back in 2018 when Mr Augustine Avuru turned 60, he was presented with a brand-new Mercedes-Benz S-Class luxury sedan as a birthday gift. Check out the below image to see the car.


Mr Austin Avuru was reportedly excited when he received a new Mercedes-Benz S-Class sedan as a 60th birthday gift
Source: Elizabeth Events @YouTube

5. Segun Agbaje (₦400 million)

It is almost impossible to talk about the top players in the Nigerian banking sector today without mentioning the name of Segun Agbaje. Yes, he is the vibrant and intelligent CEO of GTbank and by record the current highest-paid bank CEO in Nigeria. This is due to the fact that he takes home over ₦400 million every year as earnings for being a bank CEO.

Sometimes in 2020, media reports claimed that Segun Agbaje sparked controversy after acquiring a new ₦70 million Mercedes-Maybach S560 sedan. The plate number on the luxury car reads “S 007” and this hints that the young CEO probably has a host of other expensive cars in his collection. Check out Segun Agbaje’s Mercedes-Maybach sedan in the photo below.


Many local media outlets claimed that Segun Agbaje splashed a whopping ₦70 million on a Mercedes-Maybach S560 back in 2020

To discover more high-paid CEOs in Nigeria, please access this article: https://naijauto.com/market-news/highest-paid-ceo-in-nigeria-7698

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Is Mr Adewale Tinubu a member of the Tinubu family?

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