CEO Remuneration in the Industrial Goods Sector

Industrial Goods Sector

This sector saw a major upturn in base remuneration for all the CEOs of the various companies. Micheal Puchercos who has been the top earner within this sector for two consecutive years received an +18.53% increase in base salary, from N448m in 2020 to 531m in 2021. Khaled Dokani of Lafarge maintained its position as the second highest in terms of base pay and received a +16.88% increase in remuneration from N334.89m in 2020 to N391.42m in 2021.  In the third position, comes the new CEO Ohis Ohiwerei who had a base remuneration of N154.3m, a +2.80% increase from the earnings of the former CEO Onajite P. Okoloko.  However, the base remuneration of some CEOs was not made available in the financials of their companies.  

Analysts noticed a significant change in BUA cement CEO’s Remuneration, Yusuf Binju’s base salary increased by +39.38% from N75.31m in 2020 to 104.97m in 2021. Although positions on the list experienced a slight shift, causing the CEO to move to the fourth position

Micheal Purcheros remained the Highest paid executive in this sector even with no shares owned or bonuses received. However, Khaled Dokani of Lafarge, with a bonus of N102.82m came second highest paid despite the -9.55% decrease from last year’s bonus of N113.67 whilst Yusuf Binji of Bua cement owned 827,093 shares compared to the meager 7,063 shares owned in 2020. With the dividend earned amounting to N215.04m, the company recorded a +324% increase in total remuneration 

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