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: Managing Director / Chief Executive OfficerÂ
- Â 2024 Compensation: N831 million
- 2023 Compensation: N428.36 million
- % Change: +94% YoY
- CEO compensation nearly doubled amid financial recovery
About the CEO:Â
Wassim Elhusseini has led Nestlé Nigeria Plc as MD/CEO since September 1, 2020, navigating the company through a volatile economic climate and delivering a significant turnaround in 2024.
Prior to his appointment in Nigeria, he held senior roles across the Middle East and North Africa within the Nestlé Group, including Sales Director and Country Manager positions.
Elhusseini holds a bachelor’s degree in public administration from the American University of Beirut and has completed executive programs at Harvard, Cambridge, Wharton, and London Business School.
Outside of corporate leadership, he is a classically trained pianist with a diploma in Music Performance (Piano) from ABRSM.
About the Company/Performance Highlights:Â
- Sector: Consumer goods/Food product-diversified
- 2024 total assets: N858.69 billion
- 2024 Revenue: N958.82 billion (+75.25% YoY)
- 2024 Loss Before Tax: N221.58 billion (+113% YoY)
- 75.25% revenue growth in 2024, driven by strong domestic sales
- Strategic leadership and market focus supported Nestlé’s rebound
