CEO of MTN Nigeria Karl Toriola takes $3.5 million pay in 2025

Nigerian executive Karl Toriola, Chief Executive Officer of MTN Nigeria and Vice President of Francophone Africa at MTN Group, Africa’s largest telecom services provider, saw his total compensation at the end of 2025 rise by 61.2% to nearly $3.5 million, driven by the telecom giant’s exceptional financial performance. 

MTN profit recovery boosts executive pay

Toriola’s compensation for 2025 reached a substantial R57 million ($3.45 million), a significant leap from the R35.36 million ($2.14 million) he received the previous year. 

This performance underscores the strength of MTN Nigeria, MTN Group’s most profitable subsidiary, which delivered a profit after tax of N1.11 trillion ($819.25 million), marking a sharp turnaround from the N400.4 billion (about $295.23 million) loss recorded in 2024.

Revenue surged by 54.92% year-on-year, rising from N3.56 trillion (approximately $2.48 billion) to N5.2 trillion (about $3.84 billion) for the full year ended Dec. 31, 2025. The strong topline growth reinforced MTN Nigeria’s central role within the Group, contributing more than 27% to MTN Group’s total revenue of R226.71 billion (about $13.71 billion).

At the Group level, the improved performance helped drive a return to profitability, with MTN Group posting a net profit of R47.43 billion ($2.81 billion), reversing a prior-year loss and marking one of the most significant earnings recoveries in its recent history.

Compensation driven by performance incentives
Toriola’s 2025 compensation package comprised a base salary of R17.93 million ($1.08 million) and a performance-based short-term incentive of R15.18 million ($918,149), both attributed to MTN Group’s exceptional financial performance. 

He also received a long-term incentive award of R23.89 million ($1.45 million) from Africa’s largest telecom services provider to acknowledge his strategic leadership and his wealth of expertise as a seasoned professional.

Toriola’s career and leadership at MTN

Karl Toriola joined MTN Group in 2006, bringing a strong technical foundation and broad operational experience that would shape his rise within one of Africa’s largest telecommunications companies. Over nearly two decades, he has held a series of senior leadership roles across the Group, contributing to network development, operational efficiency, and market expansion in multiple territories. His early impact was particularly evident in technical and engineering functions, where he helped strengthen MTN’s infrastructure and service delivery capabilities.

He went on to serve as Chief Technical Officer of MTN Nigeria and later as Chief Executive Officer of MTN Cameroon, where he gained extensive experience in managing complex, high-growth markets. Before his current role, Toriola was Vice President for MTN’s West and Central Africa region, overseeing performance across several countries and driving cross-market collaboration in network, commercial, and digital operations.

In 2021, he was appointed Chief Executive Officer of MTN Nigeria, alongside his role as Vice President for Francophone Africa. Since then, he has led the company’s strategic focus on operational excellence, digital transformation, and sustained regional growth, reinforcing MTN Nigeria’s position as a key player in Africa’s telecommunications landscape. His leadership reflects a blend of deep technical expertise and executive acumen, enabling the business to navigate evolving market dynamics while advancing innovation across its operations.

MTN returned to profit of nearly $3 billion from loss
In 2025, the pan-African telecom giant delivered strong service revenue, reporting a 22.59% rise from R188 billion ($11.15 billion) to R226.71 billion ($13.45 billion), lifted by strong contributions from Nigeria, R61.7 billion ($3.7 billion), Ghana, R35.73 billion ($2.12 billion), and its home market, South Africa, R51.09 billion ($3.03 billion). The group also swung from a loss to a profit of R47.43 billion ($2.81 billion), marking one of the biggest financial recoveries in the company’s recent history.

Subscriber base expands above 300 million

MTN group expanded its subscriber base significantly during the year, adding 16.3 million customers to reach 307.2 million users across 16 markets. For its business in Nigeria, Total’s subscriber base climbed 7.9% to 87.3 million, while active data users increased 11.6% to 53.2 million, reflecting sustained structural demand for connectivity in Africa’s most populous nation.

Assets and equity show strong growth

Additionally, MTN Group’s total assets rose 15.51% to R498.71 billion ($29.58 billion) from R431.73 billion ($25.6 billion), while total equity advanced 23.38% to R169.73 billion ($10.07 billion) from R137.57 billion ($8.16 billion).