Audit Committee Structure and Executive Compensation of Agricultural Companies in Nigerian Exchange Group

This study examined the effect of audit committee structure on executive compensation of agricultural companies listed on the Nigerian Exchange Group (NGX). Specifically, the study examined the effect of audit committee size, audit committee independence, and audit committee meeting frequency on executive compensation. The study adopted an ex-post facto research design. The population consisted of five agricultural companies listed on the NGX, and the entire population was used as the sample through the census sampling technique. Secondary data were obtained from the annual reports and financial statements of the selected companies covering the period 2021 to 2025. The data were analysed using descriptive statistics and ordinary least squares regression analysis. The regression results revealed that audit committee size had a positive and statistically significant effect on executive compensation. Audit committee independence had a negative and statistically significant effect on executive compensation. However, audit committee meeting frequency had a negative but statistically insignificant effect on executive compensation. The study concluded that audit committee size and independence were significant determinants of executive compensation, whereas meeting frequency had no significant influence. The study recommended maintaining an optimal audit committee size, strengthening committee independence, and improving the effectiveness of audit committee deliberations to promote transparent and accountable executive compensation practices.