MTN Nigeria’s Chief Executive Officer, Karl Toriola, has been reported as the highest-paid employee in the country, earning an average of N8.5 million daily.
The revelation, which surfaced on social media platform X (formerly Twitter), has sparked widespread reactions from Nigerians.
An X user, @olumidecapital, initially brought attention to the staggering salary figure, tweeting: “MTN chief executive, Karl Toriola, is the highest paid employee in Nigeria. He earns an average of N8.5 million daily.” The post quickly gained traction, leading to mixed reactions from the public.
As the Chief Executive Officer, Karl Toriola holds the highest-ranking executive position at MTN Nigeria. The responsibilities of a CEO include making critical decisions that influence a company’s performance, and their remuneration reflects this level of authority and responsibility.
Typically, a CEO’s compensation package consists of a base salary determined by the board of directors, performance-based bonuses, long-term incentive payouts, and stock gains realized through exercising stock options. In Toriola’s case, these components contribute to his reported daily earnings of N8.5 million.
Many Nigerians have expressed astonishment at the CEO’s earnings, especially considering ongoing concerns about MTN Nigeria’s network service.
One user reacted: “Getting this huge pay for the poor network that MTN NG provides is quite ironic.”
Another added: “Maybe if MTN fixed their network, that salary wouldn’t sting so much.”
Meanwhile, some users crunched the numbers, estimating that in dollar terms, Toriola’s earnings amount to roughly $146,000 per month and $1.8 million per year.
One person commented: “Life is extremely soft for him.”
