MTN Nigeria CEO Karl Toriola's Pay Jumps 61% to N4.7bn

Karl Toriola, the chief executive officer of MTN Nigeria, received a total remuneration of about R57 million (approximately N4.7 billion) for the 2025 financial year, marking a 61.2% increase from R35.358 million in 2024. This total package includes earnings and benefits, short-term incentives, and vested long-term incentives, with a breakdown showing R17.93 million from earnings and benefits, R15.18 million from short-term incentives, and R23.89 million from long-term incentives.

The increase in Toriola's remuneration is linked to MTN Nigeria's strong operating performance, which exceeded certain performance targets despite previous economic challenges. Toriola has been leading MTN Nigeria since 2021 and has a long history with the telecommunications giant, having joined in 2006.

He is also a prince of Modakeke, as his father was installed as the Ogunsua of Modakeke in 2022. Despite his significant pay increase, Toriola remains among the lower-paid executives within MTN Group.