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Listed Nigerian corporates delivered mixed but generally stronger financial performances in 2025, with several major firms posting revenue expansion, profitability rebounds and stronger operational recovery.

From oil and gas to telecoms, cement, banking, consumer goods and breweries, executive pay reflected the size of these companies, the complexity of their operations, and in many cases, their financial performance during the year.

These support the wide disparity in executive compensation across sectors, with energy and telecom executives earning materially more than peers in manufacturing and banking.

CEO pay reflects total annual emoluments disclosed in each company’s audited financial statements, including salary, bonuses, allowances, pension contributions and other disclosed compensation, excluding non-cash share-based adjustments where separately reported.

Where CEO transitions occurred, remuneration figures represent total compensation for the office and may cover both former and current chief executives.

Given the distinct reporting structure of financial institutions, the performance figure is captured as gross earnings, while non-bank companies are assessed using revenue. Based on the data reviewed, the top 10 CEOs collectively received about N13.8 billion in 2025.

Here are the top 10 CEOs who received the highest pay in 2025. 

Girish Sharma, Managing Director/CEO of Guinness Nigeria Plc, received N324 million in 2025, compared with N756 million in 2024. Although his compensation declined year-on-year, the company recorded a strong financial rebound during the period.

Guinness Nigeria posted revenue of N471.2 billion in 2025, up from N299.5 billion in 2024, representing a 57.34% increase. Profit after tax also recovered strongly to N41.5 billion, compared with a loss of N54.8 billion in 2024.

Sharma brings strong consumer goods experience to the role. He holds an MBA in Marketing from the University of Kent and has completed executive leadership programmes at Harvard, Stanford and Cambridge. Before joining Guinness Nigeria, he was CEO of Tolaram’s joint venture with Colgate-Palmolive, where he helped deliver strong revenue growth. He also served as Chief Operating Officer of Dufil, where he oversaw the expansion of Indomie into a household brand in Nigeria and Ghana.