BILLIONAIRE GANG: Top 10 Highest Paid CEOs and Salary Earners In Nigeria - No. 1 Is Related To Tinubu

While millions of Nigerians lament over the poor economic state of the nation, a distinguished few have managed to attain great monetary value. Some are CEOs while others are salary earners. They oversee multi-billion Naira corporations, so it makes sense for them to command such grand compensations.

Photo Credit: Press Readers

Among the many who stand out in Nigeria’s business sector, below are top earners from the year 2018. Enjoy

10. Kennedy Uzoka

He has worked for the United Bank For Africa (UBA) for more than 20 years and has climbed up the ladder of success. One of his landmark achievements was when he selected to supervise the bank’s businesses in New York and London. Some other top positions include; Head of Strategy and Business Transformation and Head of Resources.

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. He earned a whopping sum of ₦139 million in 2018.

9. Jordi Borrut Bel

Having worked with Heineken N.V. group in 1997 as a Sales Representative at Heineken Spain, Jordi Borrut Bel has handled top positions such as Distribution Project Manager in Slovakia and thereafter as Brand Manager at Heineken France followed by a Trade Marketing role at Group Commerce in Amsterdam.

Today, Jordi is the CEO of  Nigeria’s biggest brewer, Nigerian Breweries Plc and earned a salary of ₦190milllion in 2018.

8. Akin Akinfemiwa

Akinfemiwa who studied Mechanical Engineering at the University of Ibadan started his career in the early 2000s as a Business Process Analyst at FSB International Bank Plc. In 2002, He went a notch higher by moving to Oando PLC where he worked in various capacities whilst developing himself as a reputable international oil marketer.

Today, Akinfemiwa is the Group Managing Director of Forte Oil and he earns about ₦191 million per annum.

7. Mauricio Alarcon

Alarcon who has been under the employ of Nestle global since 1999, took home about ₦210million in 2018.
He is a graduate of engineering from Manchester University; class of 1997 and assumed his position as CEO of Nestle Nigeria on October 1st, 2016.

6. Yaw Nsarkoh

The Chemical Engineer who also holds a Postgraduate Diploma in Management from Henley Management College, Henley-on-Thames, United Kingdom, served as a Strategic Assistant to Unilever’s President for Asia, Africa, Central, and Eastern Europe. He also worked as an African Regional Brand Manager, Production Manager for Unilever Ghana, etc. Nsarkoh has been Director at Unilever Nigeria Plc since January 1, 2014.

In 2018, Mr Nsarkoh, Managing Director at Unilever Nigeria Plc, took home a total package of ₦330million, a 50.6 per cent increase from what he earned in 2017.

5. Segun Agbaje

Whenever you hear the name GTBank plc, the next name that comes up is Segun Agbaje. He is the Chairman and Managing Director of GTBank plc and worked with Ernst & Young, San Francisco, USA prior to working with GTB.

He joined GTB in 1991 as a pioneer staff rose through the ranks to become an Executive Director in January 2000, and Deputy Managing Director in August 2002. Agbaje has an MBA from the University of San Francisco. He is also a Harvard Business School alumnus. He is also a Director on MasterCard Advisory Board Middle East and Africa.

Segun Agbaje, saw his annual compensation skyrocketed from ₦224 million in 2017 to ₦384 million in 2018 which makes him worthy to be on this list.

4. Joseph Makoju

This staff of Billionaire, Aliko Dangote made a mark for himself in Dangote Cement Plc. In 2010, he was appointed to the board as a Non-Executive Director. In 2018, he became the Acting Group Chief Executive.

With a successful track record in several world-class corporations including Shell BP, Blue Circle (UK) and WAPCO (now Lafarge Africa), which he led as Managing Director/CEO for a decade before taking up the appointment as Managing Director/CEO of the National Electric Power Authority, Joseph Makoju earned the sum of ₦429 million in 2018.

3. Baker Magunda

Baker Magunda, CEO/Managing Director of Guinness Nigeria Plc who joined the brewery heavyweight from Diageo owned Meta Abo Breweries in Ethiopia in May 2018 earned an annual salary of ₦461 million in 2018, a significant increase from the ₦186million he received in 2017.  He started his career as a Market Development Manager at Coca-Cola Sabco century bottling company from 1996 till 1999.

2. Augustine Ojunekwu Avuru

Augustine Avuru began his career at NNPC, where he spent 12 years, holding various levels of responsibilities such a Wellsite Geologist, Production Seismologist and Reservoir Engineer. He broke free and eventually co-founded Seplat in 2010 and became their Pioneer Managing Director. In 2018, he earned a total of ₦483 million an increase from the ₦476 million which he earned in 2017.

Avuru is a Fellow of the Nigerian Association of Petroleum Explorationists and was their president once upon a time.

1. Adewale Tinubu

Ocuppying the number one spot is none other than the nephew to Bola Ahmed Tinubu. Wale Tinubu who is the Chief Executive of Oando Plc Group is a graduate of Law from the University of Liverpool. By 1989, he had earned a Master’s of Law from the London School of Economics. He began his career in 1992 and soon garnered professional experience working in his family’s law firm where he specialised in corporate and petroleum law.

He co-founded Ocean & Oil Group in 1994 and guided its strategic development from an oil trading and shipping company to the fully diversified and integrated Oil & Gas Company. Presently he  sits on the boards of many companies in different capacities such as Director, MD, and Chairman. Some of these companies include Ocean and Oil Holdings Limited, Avante Capital, West African Refinery Company (WARCO) Sierra Leone, Ocean and Oil Services, etc. He is also a member of the Institute of Directors and the Nigerian Bar Association.

Wale Tinubu earned a 67 per cent increase in his executive compensation compared to the previous year, bringing his income to a total of ₦568 million in 2018

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SOURCE: LISTS