MTN Nigeria Chief Executive Officer, Karl Toriola, received total remuneration of R56.997 million in the 2025 financial year, equivalent to about N4.81 billion at the current exchange rate, after his pay package rose 61.2% from R35.358 million recorded in 2024.
The increase reflects a substantial rise in performance linked rewards rather than a similar jump in fixed salary. MTN Group’s 2025 remuneration disclosure shows that Toriola’s package included earnings and benefits, short term incentives and long term incentives that vested during the year.
At the September 15, 2026 exchange rate of about N84.33 to the South African rand, R56.997 million translates to approximately N4.81 billion. The conversion is indicative because exchange rates fluctuate, while the remuneration itself was reported by MTN in South African rand.
Brandspur Business News reports that R17.929 million of Toriola’s 2025 package came from earnings and benefits, translating to roughly N1.51 billion at the current rate. Short term incentives accounted for another R15.183 million, or about N1.28 billion, while R23.885 million in long term incentives vested during the year, equivalent to approximately N2.01 billion.
MTN said the broader increase in executive remuneration was driven largely by the vesting of long term incentives, higher share prices and stronger company performance. The group also increased the weighting attached to company performance when determining short term incentives, with company performance accounting for 70% of the relevant assessment.
The remuneration figures come against a stronger performance period for MTN. The group said its 2025 results reflected strong commercial outcomes, particularly from MTN Nigeria and MTN Ghana, alongside improved returns and a 45% increase in dividends.
For MTN Nigeria, the company maintains a significant position in the country’s telecommunications market, with more than 77 million subscribers and a network covering 92% of the population, according to its investor information.
Toriola has been at the helm of MTN Nigeria since March 2021, after previously serving as MTN Group’s Vice President for West and Central Africa. He joined MTN in 2006 and has held senior positions including Chief Technical Officer of MTN Nigeria and CEO of MTN Cameroon.
The executive’s telecommunications career began before his move to MTN. He holds a BSc in Electronic and Electrical Engineering from Obafemi Awolowo University and an MSc in Communication Systems from Swansea University in the United Kingdom. He has also completed executive programmes at institutions including Harvard Business School, London Business School and IMD.
Toriola’s remuneration also places him among the better compensated executives within the MTN Group. However, MTN’s 2025 disclosure shows that his total package remained below those of Group CEO Ralph Mupita, who received R99.313 million, and Group CFO Tsholofelo Molefe, whose remuneration stood at R52.021 million.
The figures underline how executive compensation can rise sharply when a company’s reward structure is heavily tied to business performance, share price movements and long term incentive schemes.
