Personality of the week:Mike Adenuga

Mike Adenuga is the owner of Globacom and Chairman of Conoil Producing Limited. Young Nigerian musicians sing his praise as their standard of a wealthy man. He is one of the richest people in the world and the second richest man in Nigeria after Aliko Dangote. Mike is one man you wished you had a blood relationship with lol. We discuss Mike Adenuga’s net worth and other interesting facts about the business mogul.

Mike Adenuga is a successful Entrepreneur whose impact is felt across the continent. Amazingly, he made his first million at the age of 26 which tells us that he has always been a go-getter. Did I also mention that he is handsome? He sure is a good-looking man to a fault. It is almost impossible not to admire him (winks). I call him Mike Adenuga the Great.

Mike Adenuga Biography

Michael Adeniyi Agbolade Ishola Adenuga was born on the 29th of April, 1953 to Oloye Michael Agbolade Adenuga Snr and Omoba Juliana Oyindamola Adenuga (née Onashile, of Okesopin, Ijebu Igbo), in Ibadan, Oyo State. It is safe to say that Mike Adenuga inherited his business sense from his mother who was a businesswoman from royal Ijebu descent.

John bull (as he is fondly called) attended Ibadan Grammar School for his secondary school education and proceeded to Comprehensive High School Aiyetoro for his Higher School Certificate. Mike Adenuga is a graduate of Business Administration from North Western Oklahoma State University and he also has an MBA from Pace University, New York.

He is married to Titi Joyce Adenuga and they are blessed with many children.

Mike Adenuga’s Early Career

Mike Adenuga’s career path was not an easy one as one would think. The billionaire started out as a taxi driver in New York hustling to pay for his university tuition. At some point, he sold soft drinks and lace material. For Mike Adenuga, once the business is legal and he understands it and it can generate revenue, he is good to go.

We can say that fate smiled on Mike. He was one of the beneficiaries of the new policy made by Professor Jubril Aminu, the oil minister during Babangida’s regime. The policy allowed individuals to engage in the business of oil exploitation and exploration. In 1990, he was granted a drilling license and in 1991, he started his Consolidated Oil struck oil in the shallow waters of Ondo state.

See Also: How to promote and advertise your business on Nairaland.

Mike Adenuga’s Telecom Waka

Again, Mike saw another opportunity in Telecommunication and acquired a GSM license from the Federal Government in 1999. With this license, he started the Globacom we all know today. Globacom has grown rapidly to become a very large Telecom Operator in Nigeria and Africa with over 36million subscribers.

In 2008, he extended Globacom services to Benin and has further expanded to Ghana and Cote ‘d’ivoire. He is still scouting for more licenses in other West African countries.

In 2015, Mike Adenuga acquired the Ivorian Mobile Telecoms Operator ‘Comium’ in Cote d’I’voire for $600m. Mike is still on top of his game and his name comes to mind when you mention Oil and Gas or Telecommunication in Africa.

See Also: Examples of hospitality business ideas you can start and how to start it.

Mike Adenuga Net Worth

Mike Adenuga’s real time net worth as of 2nd of August, 2018 is $4.5billion according to Forbes.

Mike Adenuga’s Companies

Conoil Producing Limited

A leading Oil and Gas Company running with the vision of dominating the indigenous upstream petroleum companies in Africa.

Globacom

One of the largest telecommunication company in Africa. Globacom has different products including Glo Gateway, Glo Broad Access, Glo mobile and Glo-1 coverage.

Mike Adenuga has stakes in different multinational companies in Nigeria including Stanbic IBTC Bank.

See Also: Business funding opportunities for aspiring entrepreneurs in Nigeria to grow their businesses.

Mike Adenuga’s Philanthropic Gestures

Mike Adenuga prefers to keep his kind gestures to humanity a secret but trust us to dig deeper.  We gathered that his philanthropy activities are carried out majorly through the Mike Adenuga Foundation. This foundation provides help to Nigeria and other African countries. The foundation once supported the victims of a flood with N500m in Bayelsa. Mike Adenuga is also the major sponsor of the Glo-CAF Award.

See Also: Legal requirements for entrepreneurs when starting a business.

Mike Adenuga’s Recognition And Awards

African Entrepreneur of The Year at ATA                                 2007

Grand commander of the order of Niger (GCON)                    2012

Companion of the Star of Ghana (CSG)                                       2018

100 distinguished and Eminent Nigerians Centenary Awards                   2018

Commander of the Legion of Honour                                                         2018

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Ghextractives.com is an independent multimedia portal that seeks to provide credible information and news content to readers especially players in the extractive sector in Ghana, Africa and beyond. It also provides a unique platform for players in the energy sector to market their products and reach a wider audience

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