How to rise to become the CEO of a publicly listed company in Nigeria

Becoming a CEO doesn't happen overnight; it is a result of many years of hard work, diligence, resilience, and making tough decisions. CEOs, at an earlier time, had done a lot of working on themselves, building relationships, engaging in projects, and gaining valuable skills. Several successful CEOs started with a fierce desire to attain the feat, so it is okay if you aspire to become one someday. 

Who is a CEO of a publicly listed company in Nigeria?

CEO - Chief Executive Officer of a Publicly Listed Company is a top executive that oversees the management, implements the policies, and directs the vision of a company that is listed on the Nigerian stock exchange. 

What is a Publicly Listed Company? 

A publicly listed company (PLC) is any business or organization that has handed over its securities - (Shares or Stock) to a recognized stock exchange for sale to the public. Companies do not become PLCs the moment they are established, they go through a series of steps and meet certain criteria which include: 

• Incorporation

• Minimum share capital

• Public Offering

• Disclosure

• Governance 

• Regulatory approval

Hence, anyone who would be CEO of such a company must be able to match the level of energy, dedication, and leadership skills.  

Responsibilities of a CEO

• Setting a long-term vision and strategic goals for the company.

• Creating and overseeing the company's budget.

• Reviewing and approving contracts

• Maintaining a good and professional relationship with stakeholders and the management team.

• Attending conferences and events hosted by the company.

• Managing and deciding on risks associated with the company's operation. 

• Identifying new business opportunities.

Read also >>> How much do Telecom CEOs earn in Nigeria?

Your Dreams are Valid! 

The general idea is that, more often, smart, well-qualified, diligent, and hardworking people rise to be CEOs; that's the truth! See a couple of other important steps you need to take to become the CEO of a PLC:

Work on your leadership skills 

A CEO is a leader and is most likely responsible for coordinating, managing, and leading people.  Therefore, such a person must be able to think strategically to carry people along toward achieving a certain goal. Being a good leader also requires you to have good communication skills, both in spoken and written words. This will come in handy whenever there is a need to restructure the company's vision or pass on clear messages to other executives, board members, and employees in general. Decision-making, being a crucial component of leadership, cannot be swept under the carpet; 8 out of 10 times, a CEO is making decisions, weighing risks, and grabbing opportunities all in the interest of the company. 

Put yourself forward

The moment you start to desire to be CEO, take a strategic approach towards your career. Being a random person with your job may no longer be the best bet for you. Instead, take on challenging roles, proffer solutions, and suggest initiatives that will work. Take every moment to do something differently; you may decide to start attending events and conferences more, attempt personal or collaboration projects, and be visible! 

Learn! Learn! Learn! 

While it is important to have at least bagged a degree if you plan to become CEO, stretch yourself when it comes to learning. If you are starting to feel like you must do a whole lot to become CEO, remember that nothing worth having comes easy, so you must put in the work. Go ahead to earn a master's degree or if you can't, take professional courses on people management, business administration, and other related certifications. See this process as your "baking moment" and make the most of it. 

Build profitable relationships

Nobody achieves success alone, so never shut out or underestimate people including your colleagues, friends, and family. Get all the support that you need; it may be in the form of mentorship, guidance, valuable opportunities, and substantial resources. Initiate a connection with investors, and professionals in your field. All of these will help you to get the motivation you need to pursue your dreams. 

 Find Inspiration

In your moment of waiting and aspiring, you need to be inspired, so draw inspiration from successful CEOs, read their stories, and learn from their experience. Some of the most successful CEOs in Nigeria include:

• Karl Toriola

• Segun Agbaje

• Haans Esaadi

• Aliko Dangote

• Abdulsamad Rabiu

Skills Needed to Become a CEO

• Leadership skills

• Management skills

• Communication skills

• Risk management

• Strategy

• Emotional intelligent

• Growth Mindset

• Project Management

• Adaptability

• Empathy

• Transparency

• Approachability

How much does a CEO earn in Nigeria?

The CEO of a company in Nigeria can earn between NGN 200 million -  NGN 800 million yearly. 

In the end, becoming a CEO is an amazing idea, and your goals are meaningful. If you put in the required work, you will be surprised at how things will turn out so well.  Go get it!