List of Nigeria’s biggest companies in foreigners hands

A significant number of expatriates in Nigeria today oversee some of the country’s biggest companies. They play such roles as Chief Executive Officers, Chief Operating Officers, Chief Financial Officers, and more.

While findings show that not all the big corporations are headed by foreigners, but a significant number of them are under their leadership with a huge annual executive compensations running into hundreds of millions of naira.

Beginning with the CEO of MTN Nigeria Plc, Ferdi Moolman who earns a whopping N571 million in annual executive compensations.

This South African business executive has been leading MTN Nigeria Plc since 2015. Before joining MTN Nigeria, Moolman already had stints in such companies as PricewaterhouseCoopers, Europ Assistance, and Super Group.

Baker Magunda, CEO of Guinness Nigeria plc, a Ugandan professional, is another member of this exclusive club. He was appointed to the position in 2018.

In his current position as the CEO of Guinness Nigeria Plc, he earns N461 million in executive compensations, according to information obtained from the company’s 2018 audited financial reports.

Next is the CEO of Lafarge Africa Plc, Michael Puchercos, an accomplished professional with a very impressive resume from France.  As the CEO of one of Nigeria’s biggest cement companies, he earns N312 million in annual executive compensations.

MD/CEO of Nestle Nigeria Plc, Mauricio Alarcon, is another expatriate who prior to assuming his current role in Nigeria back in 2016, was Country Manager at Nestle Cote d’Ivoire from September 2014 to May 2016. He has also served as the Managing Director of Nestle Atlantic Cluster between June 2016 and September 2016.

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