Business

Top 10 Highest Paid CEOs in Nigeria 2022 — Dangote Cement’s boss earns N531m

Published

1 year ago

2022/11/28

The Chief Executive Officer (CEO) of Dangote cement, Michel Purcheros, has become the highest paid in Nigeria.

He was in spot three the previous year but following the change of management at MTN as Karl Toriola took over from Ferdinand Moolman who was in the first place on the list.

In the top 10 list, Roger Brown of Seplat was the only CEO that retained his position, as the second-highest-paid CEO, on
the rankings due partly to the negligible change in his remuneration within the period, according to a report by Proshare.

Lars Ritcher of Julius Berger also rose from the 7th position in previous year to the 3rd position in the new ranking while Ebenezer
Onyeagwu of Zenith Bank rose from 10th position to 7th position in the new ranking.

Others experienced a major decline in earnings, causing a drop-down in the ranking or complete displacement
from the top 10.

Interestingly, we see that the top 3 earners Michel Purcheros (N531m) of Dangote cement, Roger Brown (475m) of Seplat energy, and Lars Ritcher (N408.91m) of Lafarge earned a combined N1.414bn.

This represents a -5.37% decline from the combined earnings of top 3 earners in the previous ranking at N1.49bn. The combined earnings of the top 3 exceeds the amount earned by the bottom 5 who jointly earned N1.25bn by 162.64m, a +53.43% increase from earlier year’s gap of N106m.

Howbeit, it is imperative to note that majority of these CEOs are in their first term, thus, they have relatively lower earnings compared with their predecessors and our previous ranking.

Below is the list of the top 10 highest CEOs in Nigeria;