MTN Nigeria CEO Karl Toriola’s Pay Rises 61% to N4.7bn as Company Records Strong Growth
- MTN Nigeria CEO Karl Toriola earned R57 million in 2025, marking a 61.2% increase from the previous year
- His package included earnings, short-term incentives and vested long-term rewards tied to MTN Nigeria’s improved performance
- Toriola’s rise from telecoms engineer to CEO was complemented by his heritage as the son of Modakeke’s Ogunsua monarch
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Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Karl Toriola, chief executive officer of MTN Nigeria, received total remuneration of about R57 million in the 2025 financial year, representing a sharp increase from his earnings a year earlier.
MTN Group's remuneration disclosure showed that Toriola's total package stood at R56.997 million, about N4.7 billion, compared with R35.358 million in 2024.
Source: UGC
That means the telecom executive's remuneration increased by approximately R21.64 million, or 61.2%, within one year.
The figure represents Toriola's total remuneration rather than his basic salary alone. His package included earnings and benefits, short-term incentives and vested long-term incentives.
MTN's remuneration report also indicates that Toriola receives his remuneration under a split contract involving Nigeria and Dubai.
Breakdown of Karl Toriola's R57 million pay
A breakdown of the remuneration shows that Toriola received about R17.93 million in earnings and benefits during the year.
Another R15.18 million came from short-term incentives, while approximately R23.89 million was attributed to vested long-term incentives.
The incentive-heavy structure means a significant portion of the MTN Nigeria boss's remuneration is linked to performance and longer-term executive reward arrangements rather than fixed pay.
Toriola's remuneration package increased substantially as MTN Nigeria delivered a stronger operating performance after navigating severe economic and foreign exchange pressures in previous periods.
MTN Group's disclosures show that the Nigerian operation exceeded certain performance targets, providing important context for the increase in executive compensation.
Karl Toriola's career rise through MTN executive ranks
Toriola has led MTN Nigeria since 2021, but his association with the telecommunications giant stretches back almost two decades.
Born in Ile-Ife, Osun state, he earned a bachelor's degree in Electronic and Electrical Engineering from Obafemi Awolowo University in 1994 before obtaining a master's degree in Communication Systems from the University of Wales.
His telecommunications career included roles at Ericsson and Airtel Nigeria before he joined MTN.
Toriola became MTN Nigeria's chief technical officer in 2006 and subsequently occupied several senior positions across the group.
He served as MTN Group's vice-president for West and Central Africa before being appointed CEO of its Nigerian operation.
MTN Nigeria CEO Toriola's royal heritage as Modakeke prince
Beyond his corporate career, Toriola also has a connection to one of Osun state's traditional institutions.
His father, Oba Joseph Toriola Olubiyi, was installed as the Ogunsua of Modakeke in 2022, making the MTN Nigeria CEO a prince of the ancient community.
Source: UGC
The royal connection provides an interesting dimension to Toriola's background, but his 2025 remuneration reflects his executive position and performance-related compensation at one of Nigeria's biggest telecommunications companies.
Despite receiving nearly R57 million during the year, Toriola remained among the lower-paid members of MTN Group's top executive leadership based on the company's remuneration disclosures.
His substantial year-on-year increase, however, highlights how MTN's performance-linked reward system can translate improvements in the Nigerian business into significantly higher executive compensation.
Top-earning CEO s in Nigeria unveiled
Legit.ng earlier reported that Executive pay in Nigeria is becoming a bigger conversation as companies grapple with inflation, exchange-rate volatility, rising operating costs and the pressure to deliver stronger returns to shareholders.
For chief executives running some of the country’s biggest companies, the rewards can be enormous.
Proofreading by Funmilayo Aremu, copy editor at Legit.ng.
Source: Legit.ng
