How much do Telecom CEOs earn in Nigeria?

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Adewale Stock

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The Telecommunications industry in Nigeria is a vibrant one laced with several thriving companies that include MTN, Airtel Nigeria, Globacom, and 9mobile. Each of these companies has a Chief Executive Officer(CEO) that manages the ownership, operations, and directions of the company. Usually, the CEOs of these companies are tagged to be influential people in the business field and also in the country because they contribute greatly to the economy.

How are Telecom CEOs paid?​

The compensation of Telecom CEOs is influenced by several factors which include the company size, performance, and market conditions. This is to say that the salary for each CEO is different and that while CEO A may earn more, CEO B may earn less depending on the factors stated. However, according to research, the average yearly salary of a telecom CEO is about NGN 550 million.

Below are major Nigerian Telecom CEOs and their earnings:

MTN Nigeria​

Karl Toriola is the Chief Executive Officer of MTN Nigeria and the highest-paid telecoms CEO in Nigeria. A few days ago, Karl Toriola, CEO of MTN Nigeria was in the news for bagging the top list of the highest-earning Nigerian CEOs with NGN 850 million earnings in 2022, a 130% increase from NGN 368 million in 2021.

Airtel Nigeria​

Segun Ogunsanya, CEO and managing director of Airtel Africa Ltd has been directing the affairs of the company since 1st October 2021. Before he joined Airtel NG, he held different leadership positions which include being the head of treasury, budget, and accounts at Coca-Cola. Segun's total compensation as a chief executive officer is about NGN 750 million yearly.

Globacom​

Mike Adenuga is the CEO of the telecommunications company, Globacom also known as Gloworld, and also, the 6th richest person in Africa. Asides from being the Chief executive chairman of Glo, he is also a chairman at Conoil, a petroleum company in Nigeria. Currently, the net worth and salary of Mike Adenuga are undisclosed to the public.

9mobile​

9mobile, formerly Etisalat, is currently being spearheaded by Juergen Peschel who has over 25 years of experience in the telecommunications industry. Over the years, Peschel has directed technology affairs, led teams, and built networks across several European countries. Peschel is currently leading 9mobile to "resurgence" and has invested over 70 billion naira in the ongoing project.

The remuneration of a CEO is usually subject to negotiation and can include a combination of several add-ons such as:

  • Bonuses
  • Stock options
  • Data allowance
  • Life insurance
  • Wardrobe Allowance and many other incentives.


source: https://hubforjobs.com/how-much-do-telecom-ceos-earn-in-nigeria
 
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