The year 2024 marked a pivotal moment for some of Nigeria’s biggest companies, with remarkable growth and strategic leadership steering them to new heights.
During this period, several MDs and CEOs took on the reins of their respective organizations, ushering in fresh leadership that would define the direction of these companies in the years to come.
These leaders were not only tasked with managing vast portfolios but also with navigating through global challenges, volatile markets, and the ever-evolving demands of their industries.
According to Nairametrics’ latest research, Nigeria’s top 10 highest-paid Managing Directors (MDs) and Chief Executive Officers (CEOs) collectively earned a staggering N11.6 billion in 2024, a significant jump from N7.9 billion in 2023
In this special spotlight, Nairametrics breaks down their 2024 earnings, leadership profiles, and the companies they led.
- Position: Group Chief Executive Officer
- 2024 Compensation: N401.4 million
- 2023 Compensation: N128.8 million
- % Change: + 211.6%
About the CEO:
Folasope ‘Fola’ Babasola Aiyesimoju has led UAC of Nigeria Plc since April 2019.
With a background in finance, he previously held roles at Kohlberg Kravis Roberts, Standard Bank Group, Ocean and Oil Holdings, and ARM Investment Managers.
He is known for his strategic investment acumen and entrepreneurial leadership, notably founding Themis Capital Management and co-founding Foodpro Limited.
Mr. Aiyesimoju currently serves on the boards of several companies and is recognized for his commitment to unlocking value in Sub-Saharan Africa’s investment landscape.
About the Company/Performance Highlight:
- Sector: Conglomerate/Diversified
- Total Assets (2024): N157.7 billion
- 2024 Revenue: N197 billion (YoY: + 63.4%)
- 2024 Profit Before Tax: N25.545 billion (YoY: + 107%)
