How much does a chief executive officer earn in Nigeria?

Chief Executive Officers (CEOs) in Nigeria oversee the overall direction and management of organisations, including strategic decision-making, leadership of the executive team, and ensuring sustainable growth. They represent the company to external stakeholders, approve major business decisions, and are accountable to the Board of Directors for organisational performance.

The average salary for a chief executive officer in Nigeria can vary based on the employer, location, and experience. The approximate figures are:

Note: These figures are estimates and can vary. Senior and specialized professionals may earn significantly more.

• Entry-level (Small/startup companies, 1-4 years as CEO): 1500000 - 3500000
• Mid-career (5-9 years as CEO, medium-sized companies): 3500000 - 7000000
• Experienced (10+ years as CEO, large organisations/multinationals): 9000000 - 20000000

• Bachelor’s Degree: Candidates with a Bachelor’s degree (e.g., BSc or BEng) and significant experience in leadership roles typically earn lower-end CEO salaries, ranging from 1500000 to 4000000 monthly.
• Master’s Degree (e.g., MBA): CEOs with advanced degrees, such as an MBA from a recognised Nigerian university, may earn between 4500000 and 9000000 monthly, especially in mid-sized to large organisations.
• Professional Certifications/Memberships: Holding professional certifications, such as membership in the Institute of Directors Nigeria (IoD Nigeria), or Chartered Institute of Management (CIPM Nigeria), can lead to higher earning potential, with packages exceeding 10000000 per month for top positions.

Becoming a Chief Executive Officer in Nigeria is a journey that demands a blend of academic achievement, extensive professional experience, and a proven track record of leadership.

1. Obtain a Bachelor’s degree in Management, Business Administration, Economics, or a related discipline from a reputable Nigerian university such as University of Lagos, Ahmadu Bello University or University of Nigeria, Nsukka.
2. Gain several years of work experience in progressively responsible managerial positions.
3. Pursue a Master’s degree (e.g., MBA) from a recognised institution in Nigeria such as Lagos Business School or Pan-Atlantic University.
4. Build leadership and strategic management skills through executive roles and company-sponsored training programmes.
5. Pursue memberships and/or certifications with leading Nigerian professional bodies such as Institute of Directors Nigeria (IoD Nigeria), Nigerian Institute of Management (NIM), or Chartered Institute of Personnel Management (CIPM Nigeria).
6. Demonstrate a strong history of organisational leadership, innovation, and stakeholder management to position yourself for CEO appointments.

Most CEOs in Nigeria hold at least a Bachelor’s degree in business, management, economics, or related disciplines. Advanced degrees such as an MBA, especially from respected Nigerian institutions like Lagos Business School or University of Ibadan, are increasingly preferred. Participation in executive education programmes—offered by Pan-Atlantic University, University of Lagos, or other top Nigerian universities—can further enhance your profile for CEO positions.

CEOs in Nigeria often benefit from professional certification and membership with respected local organisations, such as the Institute of Directors Nigeria (IoD Nigeria), Nigerian Institute of Management (Chartered), and Chartered Institute of Personnel Management (CIPM Nigeria). These institutions offer executive development programmes, ethical training, and high-level networking essential for aspiring and practising CEOs.

Optimise your LinkedIn profile for CEO opportunities in Nigeria by highlighting your strategic achievements, executive experience, and memberships with Nigerian professional bodies such as IoD Nigeria or NIM. Connect with board members, C-suite executives, and engage with local business and leadership communities to increase your visibility to top recruiters and headhunters.

See how a chief executive officer's salary in Nigeria compares to other professions. This can help you understand your earning potential and career options.