Dangote’s Purchercos leads list of highest paid CEOs in Nigeria, see full list

Dangote Cement's Chief Executive Officer Micheal Purchercos has emerged as Nigeria’s highest-earning CEO in 2021 among 157 companies listed on the Nigerian Exchange.

Purchercos, who was employed in 2020, was paid a whopping N531 million in 2021 for his service to Dangote Cement company.

The earnings of Purchercos and other CEOs was captured in Proshare CEO renumeration report titled: CEOs in a Post Covid Era - what matters most.

Proshare reports that the top five highly remunerated CEOs are from Dangote Cement, Seplat energy, Julius Berger Nigeria, MTN, and Dangote sugar refinery, in that order

While the bottom 5 on the top 10 earning CEOs list saw the likes of Lafarge Africa, Zenith Bank Plc, Nigerian Breweries, Guinness Nigeria, and Unilever Nigeria Plc.

The list showed that Roger Thompson the CEO of Seplat energy's CEO recieved N475 million as basic salary in 2021 to sit in second position as the best paid CEO in Nigeria.

Lars Richer, Julius Berger CEO is the third best paid CEO in Nigeria with a basic pay of N408.9 millon while Kar Toriola is in fourth position with N368 million basic pay.

Dangote sugar refinery, Ravindra Singh Singhvi completes the top five list with N289.7 million basic salary.

Others basic salary

Khaled El Dokani CEO of Lafarge Africa- N288.61m

Ebenezer Onyeagwu, CEO of Zenith Bank- N246m

Hans Essaadi, Nigerian Breweries/CEO- N243.09m

Baker Magunda- N243m

Carl Cruz- N231.57m

In summary, the average salary earned by chief executives of companies captured in the report dropped by -11.62 per cent to N332.49 million in 2021, compared to N376.19 million in 2020.

The biggest loser in the list is GTCO (formerly GTB), and Airtel Africa CEOs, which ranked 4th and 6th in 2020 but are missing in the top list in 2021.