- Roger Thompson Brown set to earn ₦3.90 billion as Nigeria’s highest-paid CEO in 2026
- The oil and gas sector dominates the executive pay landscape in Nigeria’s ranking
- MTN Nigeria’s Karl Toriola follows with an estimated ₦3.14 billion remuneration
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Roger Thompson Brown, the Chief Executive Officer of Seplat Energy, is projected to be Nigeria’s highest-paid CEO in 2026, with an estimated annual remuneration of about ₦3.90 billion.
The ranking highlights the dominance of the oil and gas sector in executive compensation, with major players in telecommunications, manufacturing, banking, and consumer goods also making the list.
Credit: Novatis
Source: Facebook
From MTN Nigeria to Dangote Cement and Zenith Bank, the list reflects how top corporate leaders are rewarded for steering some of the country’s biggest and most complex businesses.
Industry analysts say these large pay packages are often driven by performance bonuses, stock-linked incentives, and the responsibility of managing billion-dollar operations across multiple markets.
Roger Brown tops the list
Roger Thompson Brown of Seplat Energy is expected to take the number one spot with approximately ₦3.90 billion in annual pay.
Seplat’s strong position in Nigeria’s upstream oil and gas industry, combined with its strategic expansion and international investor confidence, has contributed to the company’s executive compensation structure.
Coming in second is Karl Toriola of MTN Nigeria, with an estimated annual remuneration of ₦3.14 billion.
MTN remains Nigeria’s largest telecom operator, and its leadership continues to command significant rewards tied to performance and subscriber growth.
Adegbite Falade of Aradel Holdings follows closely with approximately ₦2.44 billion annually, further reinforcing oil and gas as the most lucrative sector for chief executives.
Full list of Nigeria’s highest-paid CEOs in 2026
1. Roger Thompson Brown – Seplat Energy
Estimated Annual Pay: ₦3.90 billion
2. Karl Toriola – MTN Nigeria
Estimated Annual Pay: ₦3.14 billion
3. Adegbite Falade – Aradel Holdings
Estimated Annual Pay: ₦2.44 billion
4. Wale Tinubu – Oando Plc
Estimated Annual Pay: ₦1.80 billion
5. Arvind Pathak – Dangote Cement
Estimated Annual Pay: ₦1.58 billion
6. Samba Seye – TotalEnergies Nigeria
Estimated Annual Pay: ₦1.06 billion
7. Adaora Umeoji – Zenith Bank
Estimated Annual Pay: ₦874 million
8. Wassim Elhusseini – Nestlé Nigeria
Estimated Annual Pay: ₦831 million
9. Adebayo Alli – Guinness Nigeria
Estimated Annual Pay: ₦756 million
10. Segun Agbaje – GTCO
Estimated Annual Pay: ₦471 million
Oil and gas sector dominates
A major trend from the ranking is the overwhelming dominance of oil and gas executives.
Companies in the sector continue to offer the highest executive pay due to the scale of operations, global exposure, regulatory demands, and revenue potential involved.
Executives in telecommunications also remain among the best compensated, especially in firms with millions of subscribers and expanding digital service portfolios.
Banking still lucrative, but trails energy firms
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Tony Elumelu nears billionaire milestone as Seplat Energy stake soars to nearly $1 billion
Although banking remains one of Nigeria’s most profitable industries, top bank CEOs are earning less than their counterparts in oil and gas and heavy manufacturing.
For instance, Adaora Umeoji of Zenith Bank and Segun Agbaje of GTCO are among the highest-paid banking executives, but their earnings still fall below those of leaders in upstream energy businesses.
Credit: Novatis
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Experts note that executive pay is not just about salary, but often includes bonuses tied to shareholder returns, long-term incentives, and strategic company growth targets.
As Nigeria’s corporate landscape evolves, CEO compensation is expected to remain a strong reflection of industry power, company performance, and investor confidence.
Tony Elumelu nears billionaire milestone
Legit.ng earlier reported that Nigerian business mogul Tony Elumelu is edging closer to joining the exclusive league of dollar billionaires in Africa as the value of his stake in Seplat Energy surges toward the $1 billion mark.
As of late April 2026, Elumelu’s investment in Seplat Energy is estimated at between $934 million and $989 million, following a remarkable rally in the company’s share price on the Nigerian Exchange (NGX).
The sharp rise has added more than $400 million to the value of his investment in less than four months, reinforcing his reputation as one of Africa’s most strategic investors.
Source: Legit.ng