5 Highest-Earning CEOs in Oil Industry nd Their Firms in 2025
- Leading oil companies have announced mouthwatering earnings in 2024, with their chief executives earning juicy pay
- Companies such as Seplat Energy, Aradel, TotalEnergies, MRS, and others led the pack in earnings and executive compensation in the period
- According to available data, Seplat Energy and Aradel Holdings’ CEOs emerged as the highest earners in 2024
Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
The Nigerian oil and gas industry continues to display strong financial strength and leadership, with top oil companies reporting juicy performances in their 2024 financials.
The top oil firms, such as Seplat Energy, TotalEnergies Marketing Nigeria, Aradel Holdings, Eterna Plc, and MRS Oil Nigeria, have emerged as the highest-grossing oil firms, with their CEOs earning juicy pay.
Source: UGC
Roger Brown: Seplat Energy
Annual salary: N746 million
Data shows that Seplat is one of Nigeria’s leading independent oil and gas exploration and production companies.
The company's financial results for 2024 are yet to be published. However, it remains a key player in Nigeria’s energy industry.
Samba Seye: TotalEnergies Marketing Nigeria Plc
Annual Salary: N544 million
TotalEnergies is one of the dominant downstream players in Nigeria’s oil industry with an extensive retail and distribution network across major Nigerian cities.
The firm’s profit before tax rose 258.6% yearly to N11.28 billion in 2024, while its profit after tax rose 237.1% to N6.85 billion.
Adegbite Falade: Aradel Holdings
Annual salary: N2.43 billion
Aradel Holdings is a fully integrated energy firm in oil exploration, refining, and power generation.
The company’s revenue hit 162.7% per year in 2024 at N581.0 billion, with gross profit at N319.8 billion. Its operating profit stood at N297.4 billion, PBT at N3216 billion, and PAT at N247.8 billion.
The company's assets total N1.7 trillion, while its equity is valued at N1.4 trillion in 2024.
According to reports, Aradel's success comes from improved hydrocarbon output, drilling operations, and acquisitions such as Olo and Olo West Marginal fields.
Abiola Lukman Lawal
Annual salary: Undisclosed
Eterna Plc plays in the downstream petroleum sector, focusing on the refining, supply and marketing of petroleum products.
In 2024, Eterna’s revenue rose 71% year-on-year, with fuel sales accounting for N272.4 billion, lubricants sales standing at N39.2 billion,
Its cost of sales stood at N273.9 billion, while distribution and selling expenses were N327 million.
Sayyu Dantata
Salary: Undisclosed
MRS engages in the distribution and retail of petroleum products, such as aviation fuel and diesel. It is also a major distributor of Dangote Refinery petroleum products.
The company’s revenue in 2024 rose 71.26% to N312.2 billion, while its petrol sales stood at N272.4 billion, gross profit at N23.9 billion, and operating profit at N9.6 billion. Its profit before tax stood at N9.7 billion, and profit after tax rose 60.8% to N6.5 billion, while its total assets stood at N105 billion.
Source: Getty Images
CBN releases salary for Cardoso, deputies, others in 2024
Legit.ng earlier reported that the Central Bank of Nigeria (CBN) announced that it spent N306.63 billion on staff-related expenses in 2024.
The amount represented an increase of more than 700% from the N37.7 billion recorded in 2023, as the CBN made substantial severance payouts under a voluntary exit programme.
The figures were captured in the apex bank's consolidated and separate financial statements for the year ended 31 December 2024.
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Source: Legit.ng
