Nigeria is Home to Some of Africa’s Highest Paid CEOs – PwC Report

A report released yesterday by PricewaterhouseCoopers (PwC), shows that Nigerian chief executives are among Africa’s highest-paid, with a median value of total pay and benefits amounting to $323,000. The report places Nigeria only next to South Africa when it comes to the top-earning CEOs across the continent.

The PwC remuneration report which covered 382 companies across Africa, adds that Nigeria’s chief financial officers are also among the highest-paid with median earnings of $219,000.

Nigeria holds the title of Africa’s largest economy and has some of the largest companies by market value on the continent. It has a GDP of $466.88 billion, the highest region.  However, the Nigerian National Bureau of Statistics, states that 40 percent of Nigerians, or 83 million people, live in poverty. Although the country’s poverty profile for 2021 has not yet been released, it is expected that the number of poor people in the country would rise to 90 million in 2022, accounting for 45 percent of the population.

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