Mike Adenuga @71: Salute to Boundless Ingenuity, Relentless Pursuit of Greatness 

As the nation stands still tomorrow for the 71st birthday of the billionaire businessman and Chairman of Globacom, Chief Mike Adenuga Jr.,  Festus Akanbi pays tribute to a man whose exploits in business and philanthropy have continued to make him a household name in Nigeria and beyond  

In what has become an annual ritual of sorts, the Nigerian media industry will tomorrow, Monday, April 29, celebrate the 71st birthday of an illustrious son of Nigeria, the renowned Nigerian telecoms and oil tycoon, Chief Michael Adeniyi Ishola Adenuga.

It is easy to understand why family, well-wishers, and government jostle to celebrate this uncommon businessman every year. 

First, Chief Mike Adenuga, a titan among men, is a shining example of Nigerian brilliance, with his accomplishments radiating a dazzling glow over the globe. 

Second, with unyielding dedication and unrivalled vision, he has created a glorious course through the annals of business, altering the landscape of telecommunications and oil exploration with his indomitable spirit. 

Through his boundless ingenuity and relentless pursuit of greatness, he has amassed unfathomable wealth and bestowed upon his beloved Nigeria a mantle of pride and distinction. 

As the embodiment of entrepreneurial brilliance, Chief Adenuga has demonstrated that the Nigerian spirit knows no bounds, inspiring generations to reach for the stars and toil toward a future of limitless possibility. Even his competitors, in their privacy, agree that Chief Mike Adenuga is a towering testament to the enduring power of Nigerian resilience and ambition.

And in what looks like a good birthday gift, Adenuga, the chairman of Globacom and Conoil, in January this year made a comeback as Nigeria’s second-richest man with a $7.4 billion net worth valuation, pushing Abdul Samad Rabiu to third position. 

This surge in wealth can be attributed to a reassessment by Forbes of the valuation of his mobile phone network, Globacom, which he founded and currently stands as the third-largest telecoms service provider in Nigeria. 

Apart from Globacom, Nigeria’s second largest national telecoms operator, Adenuga also runs Conoil Producing, the first Nigerian company to strike oil in commercial quantities in the early 1990s. Today it is Nigeria’s largest oil exploration company.

 Uncommon Philanthropy

Despite facing numerous challenges like every other business promoter in Nigeria, Adenuga remains committed to philanthropy, consistently contributing to society through generous donations. An exemplary illustration of his charitable endeavours is the annual commitment of the Mike Adenuga Foundation, which allocates nearly $20.5 million in scholarships and aid to support students. 

Each year, the foundation extends its support by awarding scholarships to female students pursuing undergraduate, master’s, and Ph.D. studies in various locations, including Africa, the USA, the UK, Canada, Australia, China, Japan, Indonesia, and India. 

In 2011, demonstrating his commitment to societal well-being, the Nigerian tycoon donated N500 million to aid flood victims in Bayelsa State, Nigeria.  

Furthermore, in response to the global COVID-19 pandemic, Adenuga released N1.5 billion to fight the virus.

Mike Adenuga’s generosity flows like a mighty river, nourishing the parched landscapes of need with the abundance of his benevolence. 

With a heart as vast as the African savannah, he blesses the less fortunate, igniting hope in the darkest corners of despair. His philanthropic endeavours, like majestic oases in a desert of hardship, quench the thirst of countless souls, offering solace and succour to those in their hour of greatest need.

Through his uncommon acts of kindness, he not only alleviates suffering but also kindles the flames of inspiration, encouraging others to follow in his noble footsteps and spread the light of compassion throughout the world. In a universe often marred by indifference, Mike Adenuga shines as a radiant constellation of altruism, a guiding light beckoning humanity toward a brighter, more compassionate future.

Those close to him confirmed that no amount of money is too much for Adenuga to spend on his family and friends and in all these, the business mogul does not expect anything in return. 

All year round he splashes generous gifts on extended family, friends, associates, staff, and the less privileged. He has a long list of beneficiaries he touches with life-transforming gifts. He is detailed and exquisitely tasteful, not only in the quality of gifts but also in the manner the gifts are presented.

Employer of Labour

Adenuga, is contributing significantly to alleviating unemployment in Nigeria through his diverse business ventures. As the founder and chairman of Globacom, Adenuga has created numerous job opportunities across the country.

Additionally, his investment in oil exploration and production through Conoil has further bolstered employment in the energy sector. 

Moreover, Adenuga’s philanthropic efforts, including scholarships and empowerment programs, aim to equip Nigerian youth with the skills and resources needed to enter the workforce, thereby addressing the root causes of unemployment in the nation. Through his multifaceted approach, Mike Adenuga is playing a crucial role in fostering economic growth and stability while tackling unemployment in Nigeria.

As Metaphor of Nigeria’s Aspiration

Perhaps, it was the recent FX crisis that further entrenched the name of Adenuga into the consciousness of Nigerians. He became the metaphor for the domestication of spending as unsolicited campaigns emerged on the need to patronise Adenuga’s Globacom as a means of reducing pressures on the nation’s forex reserves.

There is no doubt that Adenuga stands as a towering metaphor for Nigeria’s fervent aspiration to retain its precious foreign exchange within the confines of its borders. Like a vigilant guardian of the nation’s economic sovereignty, he orchestrates a symphony of investment and innovation, channeling the wealth of the nation back into its bosom with unwavering resolve.

 Through his ingenious ventures and strategic foresight, he harnesses the latent potential of Nigeria’s resources, transforming them into beacons of prosperity that radiate across the land. In his tireless efforts to cultivate indigenous industries and champion homegrown talent, he embodies the spirit of economic self-reliance, casting off the shackles of dependency and forging a path toward sustainable growth and development. With each triumph, he beckons Nigeria closer to the summit of economic independence, a shining example of what can be achieved when the nation dares to dream and invest in its future.

One quality that sets Adenuga apart from the crowd is his foresight and bullish nature. When he set out to lay a submarine cable from Bude in the United Kingdom to Nigeria, many wondered why he chose to embark upon such a humongous and money-guzzling venture alone. The practice across the world was for a consortium of companies to come together and execute such projects.

However, Adenuga, like the bull he is, charged on, and in 2010, the cable anchored at Lekki in Lagos.  The fallout of that daring move is the affordable and reliable internet services that Nigerians have today. Financial institutions, ISPs, manufacturers, educational institutions, commerce, and other verticals today rely on Glo 1 bandwidth for their internet needs.

 But one recent development that underscored Adenuga’s foresight was the internet outage that hit Nigeria and some other African countries last month. Major undersea cables close to Abidjan, Côte d’Ivoire, were damaged, and this caused internet outages in West and South African nations. The West Africa Cable System (WACS), the Africa Coast to Europe (ACE), MainOne, and SAT3 were the undersea cables impacted. 

 The country experienced widespread internet disruptions with banks and telecommunications organisations that depend on the impacted cables for internet services heavily affected.  But Adenuga’s Glo 1 was untouched by the damage and was still running as usual. Glo 1-powered financial institutions, internet service providers, and data consumers all carried on with business as usual. Industry observers were of the view that Glo 1 International Submarine Cable’s resilient construction and durability were the reasons the damage did not compromise the cable.

Educational Background

 Born on April 29, 1953, to Oloye Michael Adenuga Sr and Chief (Mrs) Juliana Oyindamola Adenuga, the Yeyeoba of Ijebuland, Otun Gbadebo of Ikija and Iyalaje of Ijebu-Igbo, Mike Adenuga Jnr was not a silver spoon kid but his parents were comfortable.

His father was a schoolteacher while his mother was a businesswoman of royal Ijebu descent.

Adenuga received his secondary school education at Ibadan Grammar School, Ibadan, Oyo State, and Comprehensive High School, Aiyetoro, Ogun State for his Higher School Certificate (HSC). He worked as a taxi driver to help fund his university education.

He graduated from Northwestern Oklahoma State University and Pace University, New York, with degrees in Business Administration.

He has always been an enterprising man all his life. Adenuga made his first million in 1979, at age 26, selling lace and distributing soft drinks. In 1990, he received a drilling licence, and in 1991, his Consolidated Oil struck oil in the shallow waters of Southwestern Ondo State, making him the first indigenous oil company to do so in commercial quantity. 

He was issued a conditional GSM license in 1999. After revoking it, he received a second one when the government held another auction in 2003. 

Adenuga, also the Otunba Apesin of the Ijebu clan, was named African Entrepreneur of The Year at the first African Telecoms Awards (ATA) in August 2007. 

In May 2015, Adenuga made a takeover bid to purchase Ivorian mobile telecom operator Comium Côte d’Ivoire for $600 million. 

In 2012, he was made Grand Commander of the Order of the Niger by the government of Nigeria. 

In 2018, President Emmanuel Macron of France decorated him with the insignia of a Commander of the Legion of Honour. 

Adenuga was cited as one of the Top 100 most influential Africans by the New African magazine in 2019.