• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home People Profiles

Expatriates are leading some of Nigeria’s biggest companies 

Emmanuel Abara Benson by Emmanuel Abara Benson
September 24, 2019
in Profiles, Spotlight
Expatriates, Julius Berger to diversify into Agro-processing industry

Lars Richter

Share on FacebookShare on TwitterShare on Linkedin

Since colonial times, foreigners from Europe and the Americas have been living and working in Nigeria. Initially, they were either referred to as colonial masters or missionaries. Fast forward to the 21st century, these foreign workers like to be called expatriates, even as they prefer to live in some of the most exclusive neighborhoods of Lagos, Abuja, and Port Harcourt. As a matter of fact, some of Nigeria’s most exclusive neighborhoods were once predominantly dominated by foreigners who developed and resided in them with their families.   

A significant number of expatriates in Nigeria today oversee some of the country’s biggest companies. They play such roles as Chief Executive Officers, Chief Operating Officers, Chief Financial Officers, and more. Interestingly, they are not all Europeans and Americans.  

Why is this the case? 

There are two main reasons why these foreigners are hired to lead Nigeria’s biggest corporations. The first reason is the fact that a significant number of Nigeria’s big corporations have foreign entities as majority shareholders. For instance, MTN Nigeria Plc and Nigerian Breweries Plc are both subsidiaries of South Africa’s MTN Group Limited and Amsterdam-based Heineken. In view of this, it is understandable when the owners of such companies bring in their people to better represent their interests. 

RelatedStories

Nigerian companies spend over $55 billion on foreign professional services in 10 years

Nigerian companies spend over $55 billion on foreign professional services in 10 years

September 14, 2021
NCDMB launches LPG Composite Cylinder Manufacturing plant in Bayelsa, IOCs, Nigeria, Timipre Sylva, crude oil, Minister proposes 2020 timeline for rehabilitation of Warri, Kaduna refineries , FG to cut huge energy cost through gas commercialisation initiative, FG discloses plan to sell fuel at N97 per litre , FG give reasons why it won’t allow marketers determine petrol price despite deregulation, FG explains reasons for deregulating downstream oil sector

Nigerians are taking over expatriates’ jobs in oil & gas sector – Petroleum Minister

February 9, 2021

The second reason is the fact that foreign nationals (especially those from Europe and North America) are often thought to possess better expertise than their Nigerian counterparts. As such, they are treasured, even as they get to earn quite a lot of money in executive compensation.   

[READ: Meet the woman winning in a male-dominated paint market]

It should also be noted that there is a growing number of Africans who are now deemed fit to lead multinationals in Nigeria, depending on their educational and professional pedigree and experience. This is all thanks to globalization, which has exposed many Africans to the same level of educational qualifications/expertise as the Europeans and Americans. 

Is this the case in other countries? 

Across most of the world’s advanced economies, it is very rare to find Nigerians (and Africans at large) leading the biggest companies in such places. The exclusive right is usually reserved for the citizens, mainly because there are usually far too many of them with experience and expertise to lead.  

[READ: Notable businessmen who changed the political game in 2019]

The story is a little different across Africa, especially so in Nigeria. Besides South Africa, Egypt and maybe Ethiopia – where a sizable number of some of the biggest companies such as Shoprite Holdings, Naspers, Arab Contractors, and Ethiopian Airlines are led by indigenes – foreign expatriates usually call the shots in some of the biggest companies on the African continent. 

For the sake of clarity, not all of Nigeria’s big corporations are headed by foreigners; however, a significant number of them are. For this week’s corporate personality on Nairametrics, we have decided to look at some of these foreign CEOs in Nigeria. Get to know them. 

  1. Jordi Borrut Bel, the Chief Executive Officer of Nigerian Breweries Plc 

Mr Bel was appointed the CEO of Nigerian Breweries Plc in early 2018 after a horrible scandal forced his predecessor (Nico Vervelde) out of office. He is of European descent, and a seasoned professional.  

Checks by Nairametrics shows that Bel earns as much as N190 million in annual executive compensations. This is less than the N340 million that his predecessor earned.  

Expatriates
CEO, Nigerian Breweries Plc, Jordi Borrut Bel

2. Ferdi Moolman, the CEO of MTN Nigeria Plc 

This South African business executive has been leading MTN Nigeria Plc since 2015. Much like Bel, he too took over from a predecessor who was ousted due to a major scandal. Before joining MTN Nigeria, Moolman already had stints in such companies as PricewaterhouseCoopers, Europ Assistance, and Super Group. 

The University of South Africa alumnus earns a whooping N571 million in annual executive compensations, according to information contained in the company’s 2019 audited financial reports. This makes him one of Nigeria’s highest-paid CEOs.  

MTN Nigeria

3. Michael Puchercos, the Chief Executive Officer of Lafarge Africa Plc 

Mr Pucheros is an accomplished professional with a very impressive resume. The Frenchman is an alumnus of the Ecole Polytechnique (1976) and the Ecole Nationale du Génie Rural, des Eaux et des Forêts (1981). As the CEO of one of Nigeria’s biggest cement companies, he earns N312 million in annual executive compensations.  

4. Mauricio Alarcon, Managing Director of Nestle Nigeria Plc 

This Mexican-born CEO is an alumnus of the prestigious Manchester University in the United Kingdom, where he studied Engineering, Manufacturing, and Management between 1992 and 1997. He has been in the employ of Nestle Global since 1999. 

Prior to assuming his current role in Nigeria back in 2016, he was Country Manager at Nestle Cote d’Ivoire from September 2014 to May 2016. He has also served as the Managing Director of Nestle Atlantic Cluster between June 2016 and September 2016. Note that this cluster comprises Senegal, the Gambia, Guinea, and Cote d’Ivoire. 

Checks by Nairametrics confirmed that he earns N210 million in executive compensations per annum. 

NECA, Mauricio Alarcon, Apapa gridlock

5. Baker Magunda, CEO of Guinness Nigeria Plc 

This Ugandan professional was appointed CEO of one of Nigeria’s top brewers in May 2018. He is a graduate of Makerere University in Uganda and Makerere University Business School. 

He was once the MD of Uganda Breweries Limited between February 2006 and July 2008. He was also the Managing Director of East African Breweries Limited, a position he held from July 2008 until July 2012. 

[READ: Nigerian Breweries’ CEO addresses acquisition plans and other issues]

Other stints include his roles as the Chairman and Managing Director of Diageo Guinness Cameroon, Managing Director of Meta Abo Brewery (A Diageo subsidiary), and Managing Director of Diageo Ethiopia and the Indian Ocean.  

In his current position as the CEO of Guinness Nigeria Plc, he earns N461 million in executive compensations, according to information obtained from the company’s 2018 audited financial reports.  

Baker Magunda, Guinness Nigeria Plc, Baileys, Why Guinness is a stock to pick - RenCap 
Guinness Nigeria Plc, MD/CEO, Baker Magunda

6. Yaw Nsarkoh, MD of Unilever Nigeria Plc 

Nsarkoh is a Ghanaian citizen who is also the Managing Director of Unilever Nigeria Plc. He has had a long career with Unilever, having headed several regional headquarters of the global manufacturing company, particularly in Africa. He has also served as a Strategic Assistant to Unilever’s President for Asia, Africa, Central, and Eastern Europe. Other top positions he has occupied at the company include African Regional Brand Manager, Production Manager for Unilever Ghana, etc. 

He studied Chemical Engineering at the University of Science and Technology in Kumasi, Ghana. He also holds a Postgraduate Diploma in Management from Henley Management College, Henley-on-Thames, United Kingdom. 

According to information obtained from the company’s financial report, Nsarkoh earns N330 million in annual executive compensations.  

Yaw Nsakoh
Yaw Nsakoh, MD of Unilever Nigeria Plc

7. Ravindra Singh Singhvi, the COO of Dangote Sugar Refinery Plc 

Mr Singvi is an Indian national who was appointed as the Chief Operating Officer of Dangote Sugar in August 2018. Singhvi, who holds a law degree from the University of Judhpur, is also a chartered accountant. He reportedly has nearly 40 years of professional experience.  

Ravindra Singh Singhvi

8. Lars Ritcher, the CEO of Julius Berger Nigeria Plc 

Ritcher has been serving as the Chief Executive Officer of Julius Berger since October of last year. Prior to his appointment, he played various roles within the company over a seven-year period. The German citizen is a trained civil engineer. He earned N319 million in executive compensations last year.  

Expatriates

9. Christos Giannopoulos, the CEO of PZ Cussons Nigeria Plc 

Information contained in the company’s financial results indicates that Giannopoulos is Greek. He has, however, been living and working in Nigeria for the past seventeen years. He joined PZ Cussons Nigeria Plc in 2002 as the Head of Sales. Since then, he has gradually risen through the ranks to become the company’s CEO in 2009. He earns a total of N96.9 million in executive compensations, according to information contained in the company’s audited 2019 financial result.   

10. Imran Barry, CEO of Total Nigeria Plc 

This Ivorian is was appointed the Chief Executive Officer of Total Nigeria in July 2018. Before coming to Nigeria, he headed key positions in Total’s operations in Cameroun, Uganda, and elsewhere. The Civil Engineering graduate has over 20 years of professional experience. Checks by Nairametrics show that he earned N115 million in executive compensations last year. 

Expatriates

11. Annabelle Degroot, CEO of International Breweries Plc 

[READ: This CEO is fighting to work for a company that doesn’t want him]

Mrs Degroot is a British citizen who was appointed in 2017 as the President (West Africa) of AB Inbev which owns majority shares in International Breweries Plc. She has some 25 years of professional experience cutting across various companies, including stints at PwC, GSK, etc. In her capacity as the CEO of International Breweries, Mrs Degroot earned N18.5 million in 2018. She is an alumnus of Oxford University.  

Expatriates

 


Follow us for Breaking News and Market Intelligence.
Tags: Annabelle DegrootCEO of NestleExpatriates in NigeriaTop Nigerian CEOs
Emmanuel Abara Benson

Emmanuel Abara Benson

Emmanuel Abara Benson is an experienced business reporter and editor. He currently edits articles at Nairametrics. Reach him via email on Emmanuel.abara@nairametrics.com and follow him on Twitter @Mr_Abara for his personal opinions.

Related Posts

Nigerian companies spend over $55 billion on foreign professional services in 10 years
Company Results

Nigerian companies spend over $55 billion on foreign professional services in 10 years

September 14, 2021
NCDMB launches LPG Composite Cylinder Manufacturing plant in Bayelsa, IOCs, Nigeria, Timipre Sylva, crude oil, Minister proposes 2020 timeline for rehabilitation of Warri, Kaduna refineries , FG to cut huge energy cost through gas commercialisation initiative, FG discloses plan to sell fuel at N97 per litre , FG give reasons why it won’t allow marketers determine petrol price despite deregulation, FG explains reasons for deregulating downstream oil sector
Business

Nigerians are taking over expatriates’ jobs in oil & gas sector – Petroleum Minister

February 9, 2021
Annabel Degroot
Appointments

International Breweries announces Leadership changes 

December 12, 2019
Omolara Elemide
Profiles

Meet the woman winning in a male-dominated paint market 

September 3, 2019
Chief Executive Officers of NSE-listed companies
Profiles

CEOs of some NSE companies that may declare losses for 2018 – Part 2

February 19, 2019
Muhammad Amir Shamsi, CEO of Cadbury Nigeria Plc?
Profiles

Who is the CEO of Cadbury Nigeria Plc?

January 29, 2019
Next Post
Market interest, Nigeria Weekly Update: A better NPL picture

Nigeria Weekly Update: Naira interest rate and foreign exchange

Comments 2

  1. Godesky Baba says:
    September 25, 2019 at 9:45 am

    Shame, we should enact a law that requires that all executive positions are occupied by Nigerians. This can’t happen in Europe, because they are racists. These people are not that smart or have more expertise than Nigerians. Give these white immigrants low positions!

    Reply
  2. abi says:
    September 29, 2019 at 9:29 pm

    Good as long its good value for money

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
Zenth Bank
first bank
Zenth Bank








DUNS

Recent News

  • FG commissions 16 projects at Federal Neuropsychiatric Hospital, Sokoto 
  • Federal Government to establish 7,000 digital hospitals in rural communities — Dr. Bosun Tijani 
  • SEC warns investors against Silverkuun Investment, flags unregistered financial scheme 

Follow us on social media:

Recent News

FG commissions 16 projects at Federal Neuropsychiatric Hospital, Sokoto 

FG commissions 16 projects at Federal Neuropsychiatric Hospital, Sokoto 

May 28, 2025
An open letter to Honourable Minister of Communications, Innovation and Digital Economy, Bosun Tijani

Federal Government to establish 7,000 digital hospitals in rural communities — Dr. Bosun Tijani 

May 28, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics