MTN Nigeria shareholders have approved a remuneration package of N167.9 million for non-executive chairman Ernest Ndukwe for the 2025 financial year. The approval was granted during the company's annual general meeting, where shareholders endorsed the proposed pay structure for the board's non-executive directors. Ndukwe, a former executive vice chairman of the Nigerian Communications Commission, has served as chairman of MTN Nigeria since 2019. The telecom firm disclosed the remuneration details in a filing with the Nigerian Exchange Limited. The package is subject to the company meeting specific performance targets over the year. Shareholders were presented with the proposed structure ahead of the meeting, with no public opposition recorded during the voting process. MTN Nigeria operates as a subsidiary of the South Africa-based MTN Group, one of the largest mobile operators on the continent. The company has over 73 million subscribers in Nigeria.
Ernest Ndukwe stands to collect N167.9 million while many MTN subscribers still face poor network service in major cities. A pay deal tied to performance raises the question of how that success is being measured. If network stability and customer satisfaction are part of the metrics, evidence from urban centres suggests a gap between reported outcomes and lived experience. Shareholders may have approved the sum, but ordinary users are the ones ultimately funding it.
Editorial note: AI-assisted opinion, not established fact. Full disclaimer →
