MTN Nigeria CEO Karl Toriola earned R57 million in 2025 as pay rose 61.2%
By Aboki Forex —
MTN Nigeria chief executive officer Karl Toriola received total remuneration of about R57 million in the 2025 financial year, up 61.2% from a year earlier.
MTN Group’s remuneration disclosure put his total package at R56.997 million, about N4.7 billion, compared with R35.358 million in 2024. The increase was approximately R21.64 million, or 61.2%, within one year.
What made up Toriola’s pay
The figure is total remuneration, not basic salary alone. It included earnings and benefits, short-term incentives and vested long-term incentives. Toriola received about R17.93 million in earnings and benefits. Another R15.18 million came from short-term incentives, while approximately R23.89 million was attributed to vested long-term incentives.
MTN’s remuneration report also indicates that Toriola receives his remuneration under a split contract involving Nigeria and Dubai. The incentive-heavy structure means a significant portion of his pay is linked to performance and longer-term executive reward arrangements rather than fixed pay.
Why the package rose
Toriola’s remuneration package increased substantially as MTN Nigeria delivered a stronger operating performance after navigating severe economic and foreign exchange pressures in previous periods. MTN Group’s disclosures show that the Nigerian operation exceeded certain performance targets, providing important context for the increase in executive compensation.
Toriola has led MTN Nigeria since 2021, but his association with the telecommunications giant stretches back almost two decades. Born in Ile-Ife, Osun State, he earned a bachelor’s degree in Electronic and Electrical Engineering from Obafemi Awolowo University in 1994 before obtaining a master’s degree in Communication Systems from the University of Wales.
His telecommunications career included roles at Ericsson and Airtel Nigeria before he joined MTN. Toriola became MTN Nigeria’s chief technical officer in 2006 and subsequently occupied several senior positions across the group. He served as MTN Group’s vice-president for West and Central Africa before being appointed CEO of its Nigerian operation.
Royal background and group pay ranking
Beyond his corporate career, Toriola also has a connection to one of Osun State’s traditional institutions. His father, Oba Joseph Toriola Olubiyi, was installed as the Ogunsua of Modakeke in 2022, making the MTN Nigeria CEO a prince of the ancient community. The royal connection adds a personal dimension to his background, but his 2025 remuneration reflects his executive position and performance-related compensation at one of Nigeria’s biggest telecommunications companies.
Despite receiving nearly R57 million during the year, Toriola remained among the lower-paid members of MTN Group’s top executive leadership based on the company’s remuneration disclosures. His substantial year-on-year increase, however, highlights how MTN’s performance-linked reward system can translate improvements in the Nigerian business into significantly higher executive compensation.