By Wale Ameen
Data obtained from the Nigerian Stock Exchange (NSE) of the top-earning directors across industries shows an interesting lineup with MTN Nigeria, Nigerian Breweries, and Zenith Bank topping the chart of the top 5 highest earning directors in Nigeria.
A review of top-earning directors of Nigerian companies for the outgone 2020 financial year shows that telecommunications giant, MTN Nigeria led the pack with a remuneration package of N567 million for its highest-paid director.
The telecommunication giant’s profit after tax for the 2020 financial year is put at N205.21 billion while its 2019 PAT is N203.28 billion with a YoY PAT of 0.95%.
The telecommunication giant is closely followed by Nigerian Breweries with its highest-paid director emolument of N378.39 million.
It was N270.54 million in 2019, showing an increase of [+40%] with an N108.85 million increase.
The company posted a profit after tax of N7.52 billion while its profit after tax for 2019 was N16.11 billion, signaling a -53.3% change.
Zenith bank comes third with its highest-paid director for the 2020 financial year going home with N230 million.
The FMCG industry is fourth on this table with Nestle Nigeria. The consumer goods manufacturer had its highest-paid director for the outgone financial year taking home N161.35 million.
It was previously N218.08 million in 2019, a drop of N56.73 million with a profit after tax of N39.21 billion. When compared with its 2019 declared PAT of N45.68 billion shows a -14% change.
Lastly, Dangote Sugar Refinery Plc comes 5th on this table with its highest director’s emolument being N134.63 million.