MTN Nigeria CEO Karl Toriola’s Pay Rises 61% to ₦4.81bn as Company Records Strong Growth

The total remuneration of MTN Nigeria’s Chief Executive Officer, Karl Toriola, rose by about 61 per cent to approximately ₦4.81 billion in 2025, as the telecommunications company recorded significant growth in revenue and profitability.

Toriola’s remuneration increased from approximately ₦2.98 billion in 2024 to ₦4.81 billion in 2025, representing an increase of about ₦1.83 billion.

The package, however, was not made up entirely of basic salary. It included earnings and benefits, short-term incentives and long-term incentives that vested during the year.

How the ₦4.81bn was made up

Toriola received approximately:

• ₦1.51 billion in earnings and benefits;
• ₦1.28 billion in short-term incentives; and
• ₦2.01 billion from vested long-term incentives.

This brought his total remuneration for the year to approximately ₦4.81 billion.

The substantial increase was therefore driven not only by his regular compensation but also by performance-related payments and long-term incentives.

MTN Nigeria records strong growth

The increase in Toriola’s remuneration came against the backdrop of strong financial growth by MTN Nigeria.

In the first half of 2026, the company reported ₦3.0 trillion in service revenue, representing a 25.9 per cent increase.

Earnings before interest, tax, depreciation and amortisation rose to ₦1.7 trillion, an increase of 39.2 per cent.

Profit after tax also climbed sharply to ₦707.5 billion, representing a 70.6 per cent increase.

The company’s free cash flow reached ₦712.7 billion, up 73.9 per cent, while its subscriber base increased to 92.2 million.

MTN Nigeria also declared an interim dividend of ₦26 per share.

The figures highlight the significant improvement in the company’s financial performance, while Toriola’s remuneration demonstrates the role of performance-linked and long-term incentives in the compensation of senior executives.

It is important to note that the ₦4.81 billion figure represents total remuneration rather than Toriola’s basic salary.