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Eight LSHA Third Year Anniversary: Executive Must Go a Step Further to Strengthen Democracy – Speaker Obasa

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By Eric Elezuo

The Speaker of the Lagos State House of Assembly, Rt Hon Mudashiru Ajayi Obasa, Friday, declared that the executive arm of government must go a step further in its efforts at governance to strengthen democracy and the democratic institutions.

“It is noteworthy to emphasise the need for the survival of the legislature by all means for democracy to thrive and be sustained. And this must be seen as the responsibility of all, most especially the Executive. The Executive must go a step further to ensure the survival of the legislature,” he said.

The Speaker made this declaration during his opening address at the celebration of the third anniversary of the Lagos State eight assembly, with the theme: Strengthening Legislative Institutions: Panacea for Enduring Democracy, which was marked with a special parliamentary session.

Obasa noted that between June 2017 and now, the legislative chamber has passed 13 bills and made 45 resolutions.

He painless itemized the achievements of the eight assembly in its short existence to include the review of the Land Use Charge Law 2018 which was perceived as obnoxious; the enactment of a law seeking to establish the Lagos State Cancer Research Institute to provide for the promotion, aid and coordination of researches relating to cancer and cancer-related illnesses; the Lagos State Teaching Service Commission Law 2018, which will ensure that only professionally qualified teachers are employed in the state as well as the Lagos State Transport Sector Reform Law 2018 expected to address issues relating to the challenges of road commuters in the state among others.

Speaker of Lagos State House of Assembly, Rt Hon Mudashiru Obasa with Vice President of Nigeria, Prof Yemi Osinbajo

He further appreciated the Governor of Lagos State, Mr. Akinwunmi Ambode, for his giant strides in the field of governance and provision of amenities for Lagosians as well as supervising the smooth passage of the assembly Appropriation Bills, and gave kudos to Asiwaju Bola Tinubu for spearheading the spirit of modern Lagos.

Among prominent citizens that graced the occasion were the vice President of Nigeria, Prof Yemi Osinbajo, Lagos State Governor, Mr. Akinwunmi Ambode; Governor of Osun State, Ogbeni Rauf Aregbesola, Governor of Oyo State, who was represented by the Attorney General and Commissioner for Justice, Mr. Oluseyi Abimbola; Asiwaju Bola Tinubu, who was represented by former Deputy Governor of Lagos State, Mr. Femi Pedro; Deputy Governor of Lagos, Alhaja Idiat Adebule, former Deputy governor Sarah Sosan, former Speaker of the House of Representatives, Alhaji Ghali Umar Na’aba; ouse majority leader, Mr. Femi Gbajabiamila; Lagos Peoples Democratic Party chairman, Adeseye Ogunlewe, All Progressives Congress chairman, Tunde Balogun, Mrs. Kemi Nelson, Abiodun Ogunley, Chief Judge of Lagos State, APC Lega Adviser, Babatunde Ogala; traditional rulers, members of the civil society among very many others.

Speaker Obasa welcomes Osun State Governor, Ogbeni Rauf Aregbesola

Full Text of Speech

PROTOCOL

It is my pleasure and honour to welcome you to this 12th edition of the annual lecture commemorating the Third Session of the 8th Assembly with the theme: Strengthening Legislative Institutions: Panacea for Enduring Democracy. 

  1. We as representatives of the people strongly believe that this is a medium to contribute intellectually to the growth and development of the tenets of democracy which in turn will strengthen and deepen our democratic practice and institutions. We are convinced that the legislature is the most notable symbol of democracy. This is so because that is where the public sees democracy in action, in the form of debates, and consideration of motions, resolutions and bills. And indeed, the Lagos House of Assembly, as one of the key state institutions in a democratic system, has a critical role to play in promoting democracy and good governance.
  2. Ladies and gentlemen, as it is indicated in the theme of this assemblage, it is noteworthy to emphasise the need for the survival of the legislature by all means for democracy to thrive and be sustained. And this must be seen as the responsibility of all, most especially the Executive. The Executive must go a step further to ensure the survival of the legislature.
  3. An executive arm that negatively influences the business of the legislature cannot be categorised to be a democrat. Hence, the Executive should play the role of a father who ensures the survival of his child. In addition, the relationship between the Executive and Legislature should be of cordiality. Otherwise, a sign of instability and catastrophe will rear its ugly head.
  4. At this juncture, as the elected representatives of the people, it is expedient for us to present our scorecard for necessary appraisal by the electorate and for the purpose of setting the records straight. I am proud to say that this House since its inauguration on June 8, 2015 has passed into Laws twenty-eight Bills with over a hundred resolutions.
  5. In the legislative year under review, we continued to blaze the trail in formulating laws for the benefit of the good people of Lagos State and in the promotion of a truly inclusive, participatory, open and people-oriented democracy.
  6. Since last year when we met like this, we have successfully passed a total of 13 bills into laws while we have also made 45 resolutions. Some of these laws address issues related to our environment, power and energy sector, health, transport, as well as education. Notable among them is the Lagos State Electric Sector Reform Law 2017, which aims to ensure the protection of consumer interest and compliance with environmental laws. The law is to further strengthen electricity generation, distribution and transmission for improved power supply in Lagos State.
  7. Also, because of the public outrage on some parts of the Land Use Charge Law 2018 that were perceived obnoxious, your Assembly, in line with its commitment towards inclusive governance, engaged in extensive dialogue with various stakeholders to ensure its proper review.
  8. Furthermore, the enactment of a law seeking to establish the Lagos State Cancer Research Institute to provide for the promotion, aid and coordination of researches relating to cancer and cancer-related illnesses is part of the ingenious measures undertaken by this House. It will institutionalise the campaign against cancer and improve the health and welfare of the citizenry.
  9. So also is the Lagos State Teaching Service Commission Law 2018, which will ensure that only professionally qualified teachers are employed in the state; and the Lagos State Transport Sector Reform Law 2018 expected to address issues relating to the challenges of road commuters in the state.
  10. It also gladdens our heart that the passage of our Appropriation Law has been prompt and thorough without any contradictions towards delivering dividends of democracy to Lagosians.
  11. Distinguished guests, resolution, as a powerful legislative instrument, has been used in tackling various issues that directly affect us as Lagosians. For instance, the need to commence public sensitization on the importance of preserving sites, monument, and locations of historical relevance in the state, necessitated the call to the Commissioner for Education to include studies of our cultural heritage in the school curriculum in Lagos State.
  12. As we all know that no meaningful development can take place in an unsafe environment, the rapidity of our response to emergencies determines the level of security of lives and property. Thus, this House of Assembly called for the urgent upgrading of all fire service stations in Lagos State with modern firefighting trucks, service equipment and personnel, to enable the Agency combat fire incidents with a view to preventing loss of lives and property in the state during fire or flood disaster.
  13. In the same vein, we have not relented in organising training programmes for lawmakers and staff, a factor that has improved their legislative and administrative performances. Of course, we will continue to improve on this.
  14. Permit me also to intimate you with the fact that for the first time in the history of this hallowed chamber, we have been visited by two First Class royal fathers, the Ooni of Ife, His Imperial Majesty, Alayeluwa Ooni Enitan Babatunde Adeyeye Ogunwusi OJAJA II and Owa Obokun of Ijesha land, HRM Oba (Dr) Gabriel Adekunle Aromolaran II. The courtesy visits were as a result of the sterling performance of the 8thassembly and the promotion of Yoruba culture and heritage, in line with our Yoruba Language Promotion and Preservation Law, 2018.
  15. We have also not relented in organizing annual constituency stakeholders’ meetings simultaneously in all the 40 constituencies of the state, while holding the MDAs to account through intensive and effective oversight activities, as we respond earnestly to the petitions by Lagosians through appropriate Standing or Ad hoc committee.
  16. Good people of Lagos, we cannot exhaust the details of our achievements so far.
  17. May I at this moment, however, commend our brilliant and energetic governor, Mr Akinwumi Ambode for the good jobs he has been doing which are visible all around the state in which the entire state is more or less becoming a construction yard. Everywhere you go now, you see one or two construction jobs going on.
  18. No doubt, the secret to the achievements recorded all over in Lagos has been the foundation which was laid by the national leader of our great party, the enigmatic, charismatic and intelligent Asiwaju Bola Ahmed Tinubu – a sterling example of statesmanship and steadfastness. Of course, his uncommon leadership roles have made it possible for all the successes recorded so far by the Lagos State government, especially this House of Assembly.
  19. Distinguished guests, on behalf of my colleagues, it is my honour and privilege to welcome back into our midst the Vice President of Federal Republic of Nigeria, His Excellency, Prof Yemi Osinbajo, whose coming here today into this hallowed chamber, to my knowledge, will be the 3rd time. He has appeared twice before this honourable house as a nominee for commissionership and today as a visiting Vice President.
  20. Sir, we appreciate your contributions as well as your style as a political leader which has created a new chapter in the political development of Nigeria. Your persuasive nature, total loyalty to the President and commitment to the tenets of democracy have been recognised all over. We commend you sir. It is worthy of note that it was during your administration as the Attorney General of Lagos State that the Office of Public Defender was established for the facilitation of justice system for the poor in the state. In fact, your being here today is to us a homecoming. I thank you for honouring our invitation.
  21. Your Excellency Sir, through your office, we will like to say a big thank you to President Muhammed Buhari (GCFR) for his magnanimity and a wonderful gift he has given to Nigeria through the recognition of June 12 as a Democracy Day. It was a pronouncement that changed our political perception and will further strengthen our democratic tendencies.
  22. At the same time, we must also seize this opportunity to ask that you help use your office in making our request known to Mr President as regards granting Lagos State a special status as well as restructuring our political and economic systems in Nigeria.
  23. Distinguished guests, may I use this medium, however, to congratulate our great party the All Progressive Congress, APC, for the success in the recent congresses from the Ward to State level and up to the Federal, which culminated in the National Convention, ending successfully well to the chagrin of the prophets of doom.
  24. Moreover, I will like to commend the former state’s Executives for their sterling performance while in office. Evidence of this can be seen in all the elections conducted during their tenure in which our great party, APC, emerged victorious. While wishing them well in their future endeavours, I urge the new Executives to imbibe the winning spirit and culture of the past excos.
  25. Let me also take this moment, ladies and gentlemen, to recognise the presence of our political leader, our mentor, our guardian, His Excellency, Ogbeni Rauf Aregbesola, Governor of the State of Osun who is also the honorary 41st member of this Assembly. Lagos will never forget you for your enormous contributions towards its political stability as well as in the infrastructural development of this state when you served as a Commissioner for Works and Infrastructure.
  26. Likewise, we appreciate the presence of His Excellency, Governor Abiola Ajimobi of Oyo State who to us serves as a symbol and promoter of our language, Yoruba. Your Yoruba oratory skills have become so amazing to us all. Your efforts in turning around Oyo State also are well noted. As such, we urge you never to relent on this. I will also never forget your brotherliness and support.
  27. In our midst, similarly, is the former Speaker of the House of Representatives, Alhaji Ghali Umar Na’Abba, a man known for his penchant for candour. The fact is there that during your administration, you did not compromise the integrity of the legislature.
  28. Overall, I thank the good people of Lagos State for their vote of confidence in us and their unflinching support. Indeed, you all have been part of our success story and I enjoin you not to be weary in making useful contributions towards the realization of our dreams for greater Lagos State, especially through prompt tax payment.
  29. We shall remain undeterred and purposeful in our resolve to take Lagos to a greater height.
  30. Thank you so much for honouring our invitation today.
  31. Once again, I welcome you all to this great event and I thank you for listening.

Itesiwaju ipinle Eko, lo je wa l’ogun

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Koumagnon Family Pledges Unalloyed Support for Romuald Wadagni As President

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By Eric Elezuo

The Koumagnon Family and Allied Families of Seme-Kpodji, of the Republic of Benin, led by Monsieur Alberto Koumagnon, has declared their unflinching support for the candidacy of Romuald Wadagni as he steps out on Sunday to vie for the presidential seat of the Republic of Benin.

In statement of declaration, the families observed that Wadagni is propelled by a ‘vision embodied in this ambitious, realistic project, resolutely focused on the future of our country’.

The declaration is presented in full:

DECLARATION OF SUPPORT BY THE GREAT KOUMAGNON FAMILY AND ALLIED FAMILIES OF SÈMÈ-KPODJI FOR CANDIDATE ROMUALD WADAGNI

The great KOUMAGNON family and allied3 families of Sèmè-Kpodji, deeply committed to the values of peace, progress, and development, followed with particular interest the presentation, on Saturday, March 21, 2026, of the “Further Together” (Plus loin ensemble) social project by our dear candidate, President Romuald WADAGNI.

Following this important political event, and gathering on this day, 04/04/2026, we wish to express our full support for the vision embodied in this ambitious, realistic project, resolutely focused on the future of our country.

From the outset, we, descendants of the KOUMAGNON family and allied families, commend the enlightened leadership of President Patrice TALON who, faithful to his commitment to building a modern and prosperous Benin, has been able to propose to the presidential majority a competent, credible candidate who brings hope for consolidating achievements.

In this dynamic of continuity and progress, the candidacy of President Romuald WADAGNI is fully in line with the continuation of the structural reforms undertaken over several years in all sectors, particularly in infrastructure.

In this regard, we recognize and commend the many achievements of the government, especially road infrastructure, which has significantly improved mobility and living conditions for the populations of the communes of Sèmè-Kpodji and surrounding areas.

Moreover, these remarkable efforts reflect a constant determination to connect localities, stimulate economic exchanges, and sustainably strengthen the attractiveness of our territories.

Building on these achievements and firmly oriented toward the future, we are convinced of the relevance of the “Further Together” project.

Therefore, the great KOUMAGNON family and allied families of Sèmè-Kpodji give their firm, committed, and unconditional support to candidate Romuald WADAGNI, as well as to his running mate, Mrs. Mariam Chabi Talata Zimé Yérima.

In the same spirit, we call on all daughters and sons of Sèmè-Kpodji, as well as all citizens committed to peace and development in our country, Benin, to mobilize massively in support of this hopeful momentum by turning out in large numbers on April 12.

We also wish to assure our dear candidate of our commitment to mobilize widely to ensure a high voter turnout in the commune of Sèmè-Kpodji.

Together, let us continue the efforts undertaken.

Together, let us consolidate our achievements.

Together, let us go further.

Long live Benin on its path toward progress!

Long live the WADAGNI–TALATA ticket!
Thank you.

Done at Sèmè-Kpodji, on 04/04/2026

The great KOUMAGNON family and allied families

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The Billionaire Gang: The Quartet That Keeps Nigeria in Limelight

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By Eric Elezuo

With a loud ovation, Nigerians reveled at the announcement of its billionaire-quartet, Aliko Dangote, Mike Adenuga, Femi Otedola, and Abdulsamad Rabiu as among Africa’s richest individuals in 2026.

The four has constantly put Nigeria in the limelight, ensuring that Forbes is never complete without a mention of the giant of Africa, Nigeria

According to the latest Africa Billionaires ranking released by Forbes, Dangote retained his position as Africa’s richest man, with an estimated net worth of $28.5 billion. He added about $4.6 billion to his fortune over the past year, largely driven by the strong performance of Dangote Cement on the Nigerian Exchange Limited.

Telecommunications magnate Adenuga also retained his place among Africa’s billionaires.

The founder of Globacom and chairman of Conoil Producing remains one of Nigeria’s most influential entrepreneurs with diversified interests spanning telecoms, oil and gas, and banking.

Otedola, chairman of Geregu Power Plc, also featured on the list despite a slight dip in his wealth over the past year. Forbes estimates that the billionaire investor lost about $200 million following the sale of a majority stake in the power generation company at a discount to its market price.

The increase in Rabiu’s net worth was largely driven by the performance of BUA Cement, whose shares rose 135% over the past year, outperforming the broader rally on the Nigerian stock market.

The 23 billionaires on the continent are now worth a combined $126.7 billion, representing a 21% increase from 2025 after they collectively added $20.3 billion to their net worth.

Across the continent, billionaire fortunes were boosted by strong equity market performance, record corporate profits, and improving currency stability in several African economies.

South Africa remains the highest number of billionaires on the list, with seven individuals, followed by Egypt with five, Nigeria with four, and Morocco with three.

Here is a peep into the world of Nigeria’s Billionaire-Quartet.

ALIKO DANGOTE

For the President of the Dangote Group, Alhaji Aliko Dangote, and his multifaceted group, playing second fiddle has never been an option. Both the enterprise and the entrepreneur have maintained market leadership to the extent that Dangote himself has appropriated the richest man in Africa status to himself, and has hardworkingly sustained the tag for as long as anyone can remember.

Since 2014, when Forbes magazine named him the world’s 23rd billionaire, jumping 20 spots on the scale from his previous 43rd position among the elite club of the world’s richest people. Aliko Dangote has not looked back, winning back to back the accolade among African billionaires, and never slipping from the world ranking.

Again, as expected, the famous Forbes has proclaimed the soft spoken businessman as Africa’s richest man for the 12th time in a row; a proof that the name Dangote is synonymous with consistency. He is a businessman, who understands that no man rest on his oars if turnovers have to continue to turn over. With marked differentiation, he has demystified the business terrain, and proved that if it can be done, then it must done. His establishment of the humongous fertilizer and sugar plants and the ambitious refinery in Lekki, Lagos, Nigeria, are testimonies of the trajectory of one who knows his onions.

Worth $13.4 by the last Forbes ranking, which sustained him as the richest man in African for the 11th time, entrepreneur extraordinaire  has the following points to his name:

  • Aliko Dangote, Africa’s richest person, founded and chairs Dangote Cement, the continent’s largest cement producer.
  • He owns 85% of publicly-traded Dangote Cement through a holding company.
  • Dangote Cement has the capacity to produce 48.6 million metric tons annually and has operations in 10 countries across Africa.
  • After many years in development, Dangote’s fertilizer plant in Nigeria began operations in mid-2021.
  • Dangote Refinery, under construction since 2016, hit the public space since 2024, and is one of the world’s largest oil refineries, with a capacity of 650,000 barrels per day production.

The above and many has remained the factors that have made it easy for the billionaire to remain in the top echelon of world’s money men, and the supremo among African businessmen. Little wonder he is one of the few recipients of the GCON national honours reserved for top politicians of vice president ranking and top government appointees.

Born in Kano in 1957, Dangote proudly shuttles between three wonderful tags as the richest man in Nigeria; the richest man in Africa and the richest Black man in the world. He has paid his dues, and mankind is the better for it.

Releasing impacts, Aliko Dangote Foundation (ADF), the private charitable foundation of Alhaji Aliko Dangote. Incorporated in 1994, as Dangote Foundation, is saddled with the mission to enhance opportunities for social change through strategic investments that improve health and wellbeing, promote quality education, and broaden economic empowerment opportunities. 20 years later, the Foundation has become the largest private Foundation in sub-Saharan Africa, with the largest endowment by a single African donor.

The primary focus of ADF is child nutrition, with wraparound interventions centered on health, education and empowerment, and disaster relief. The Foundation also supports stand-alone projects with the potential for significant social impact.

The Foundation works with state and national governments and many highly reputable international and domestic charities, non-governmental organizations and international agencies to advance its humanitarian agenda.

In one of its biggest collaboration to date, Aliko Dangote Foundation started working in partnership with the Bill and Melinda Gates Foundation and key northern State Governments in Nigeria from 2013 to eradicate polio and strengthen routine immunization in Nigeria.

Worthy of praise is the fact that nearly a decade, the Foundation has spent over N7 Billion in the course of feeding, clothing and the general welfare of the Internally Displaced Persons in the Northeast.

To make his host communities feel at ease, and the impact of his presence, Dangote has embarked on an initiative to provide further support to improving educational systems in Ibeju-Lekki and Epe locality. The educational support initiative is a tripartite programme consisting of scholarship, capacity building for teachers and school infrastructure projects.

In addition, Scholarships have been awarded to 52 secondary school students whilst some financial support was provided to their parents and/or guardians. Tertiary students will be included in the next batch of the scheme.

Furthermore, about 100 teachers, principals and school administrators were trained in teaching techniques for the 21st century. After which they were monitored in class on how they were using the skills acquired.

There is hardly any sector that has not felt the milk of human kindness running through Aliko Dangote; the military, media, politicians, governments across boards and more.

Dangote is surely an asset to this world!

As at today, there is no space for slowing down for Dangote as he continues to trudge on, creating firsts after first for himself and for humanity. He is blessed with three wonderful daughters, who have followed the rewarding footprints of entrepreneurship, and is looking forward to hitting the richest man in the world status. And very soon too.

ABDULSAMAD RABIU 

Abdulsamad Rabiu’s consistent climb on the ladder of success has become phenomenal. The unassuming Chairman at BUA Group has become a study in entrepreneurial discipline, focus, philanthropy and intentional sacrifice. But what can actually be said of a man who has steadily evolved as one of Africa’s biggest investors, in fact, the biggest in the order of reckoning on the Nigerian Exchange. He has graciously used his BUA Foundation and the phenomenal Abdul Samad Rabiu Africa Initiative to not only affect lives, but ensured that the people of the world, especially his native Nigeria, live in better comfort. The Chairman/Chief Executive Officer, Bua Group, makers of quality cement, sugar, flour among other wonderful household items has been a epitome of enterprise. He is presently by divine and entrepreneurial orchestration one of Nigeria’s richest investor. He is also the third richest man in the Africa, by Forbes calculation behind Nigeria’s Aliko Dangote, South African billionaire, Johann Rupert.

In 2023, via a list compiled by Billionaires in Africa revealed the rankings on the Nigerian Exchange, NGX, showing that Abdulsamad Rabiu, the billionaire businessman and industrialist, overtook Aliko Dangote as the richest investor in the country, albeit temporarily.

According to data tracked by Billionaires.Africa, Rabiu’s holdings in his publicly-listed businesses on the local bourse were valued at an impressive $6.01 billion, making him the only investor with an investment portfolio worth over $6 billion then. This is a feat that can only be achieved through wholesome business acumen and dedication.

Born August 4, 1960, in Kano, to one of Nigeria’s foremost industrialists in the 1970s and 1980s, Khalifah Isyaku Rabiu, Abdul Samad Isyaku Rabiu CON is a perfect combination of many things in one.

It was in his native Kano that he kick-started his academic pursuit, carousing through elementary education with ease as a gifted child, and obtained his First School Leaving Certificate. He was later admitted into the Federal Government College, Kano, where he had his secondary education, and gradually with honours.

With a combination of fate, brilliance and determination, Abdulsamad was catapulted to Capital University in Columbus, Ohio, where he studiously studied Economics, and acquired his tertiary education before returning to Nigeria, all before his 24th birthday, to oversee his family business. He was that much sought after, and highly brilliant, and considered capable of holding fort for his father, who was being detained by the administration of General Muhammadu Buhari over matters concerning import duties.

In 1988, just after learning the ropes of entrepreneurial excellence, Abdul Samad Rabiu established BUA International Limited, for the sole purpose of commodity trading. The company followed after the footsteps of his father, and imported rice, edible oil, flour, iron and steel.

In 1990, having exhibited the character worthy of a world class entrepreneur, and the ability to execute classical projects, Rabiu’s BUA was invited by the government, which owned Delta Steel Company to supply its raw materials in exchange for finished products. This provided a much-needed leverage for the young company, and consequently expanded further into steel, producing billets, importing iron ore, and constructing multiple rolling mills in Nigeria.

Rabiu’s dexterity showed further a few years later, when the company acquired Nigerian Oil Mills Limited, the largest edible oil processing company in Nigeria, and there erupted the company’s and BUA’s influence and care over the people in the provision of affordable edible oil. His passion to see people excel in comfort has continued to make him churn out one great tiding after another, and endearing him in the hearts of the generality of the public.

A man with a vision for tomorrow, Rabiu, in 2005, started two flour-milling plants, in Lagos and in Kano, and by 2008, had broken an eight-year monopoly in the Nigerian sugar industry by commissioning the second-largest sugar refinery in sub-Saharan Africa. This was a feat only a bravest of hearts could wroth. As a result, in 2009, the company went on to acquire a controlling stake in a publicly-listed Cement Company in Northern Nigeria and began to construct a $900 million cement plant in Edo State, completing it in early 2015. Rabiu’s passion for expansion is unequalled.

BUA Group has since concentrated and excelled in manufacturing, infrastructure and agriculture and producing a revenue in excess of $2.5 billion. This is in addition to being the chairman of the Bank of Industry (BOI).

The Group, in 2019, announced plans to merge its privately owned BUA Cement with the publicly traded Cement Company of Northern Nigeria Plc (CCNN), to create Nigeria’s second largest cement producer thereby consolidating the grip on the cement market and breaking its monopolistic status.

MICHAEL ADENUGA

Michael Adenuga Jr. is one entrepreneur, who has proved over the decades that he is not the regular billionaire. He is of the stock that is not regulated by stock market figures, but by liquid cash. And that explains why his wealth and net worth supercedes whatever figures churned out by any institution, or any position he is placed in the billionaires’ list.

Adenuga is, for all intent and purpose, in a world and class of his own. This is because his business trajectory and personal philosophy are uniquely his, and therefore worthy of emulation.

Sitting atop one of the most cherished and subscribed network, Glo, Adenuga has not only inspired lives, but practically lifted not a few to enviable heights.

Known for his diverse investments in oil, gas, telecommunications, banking, construction, and real estate, Mike Adenuga notably shook up the African telecom sector with the launch of his telecommunications network, Globacom Limited (Glo), in August 2003.

Also referred to as The Guru, Adenuga is like the proverbial Iroko tree, who is unlike any other. In terms of humility, pedigree, magnanimity, wealth and portfolio of investments, he is one of a kind.

“As of Jan. 1, 2024, Forbes, the U.S.-based business magazine renowned for tracking global billionaire fortunes, estimated Adenuga’s wealth at $6.1 billion. By Dec. 31, 2024, his net worth had grown to $6.8 billion, ranking him as the 448th richest person in the world. Adenuga’s wealth is anchored in his control of Globacom, Nigeria’s second-largest mobile telecommunications and digital services provider, which boasts over 60 million subscribers,” according to Billionaires.Africa

Adenuga is fondly remembered for launching operations on Per Second Billing, thus ensuring subscribers only pay for actual time spent on a call instead of the practice of billing customers N50 per minute even when the call cuts off at just 2 seconds. It also crashed the cost of SIM card from N30,000 to N6,999 and later N100, thereby making it possible for low income earners, students and artisans to own GSM lines today. It is now one of the most recognizable brands across the continent.

Love him or hate him, you can’t fault him. He is an enigma. A definition of class, humanity, intellectual discipline and entrepreneurial acumen. He is the very epitome of when the going gets tough, the tough gets going. And of course, a reference point and research material when it comes to philanthropy. Dr. Mike Adenuga doesn’t give little or give just for giving sake. He gives to sort and solve a lasting challenge. Yes, he is Dr. Michael Adenuga Jr., ‘The People’s Billionaire,’ and without introduction, the brain behind the increasingly success stories recorded at the Globacom Group, among his many other conglomerates and subsidiaries.

Known by many appellations, such as the Spirit of Africa, a rare gem, walking kindness, moon amongst the stars, owner of wealth beyond money, the mighty oak, the man with the gift of Foresight, the Bull, Pillar of sports among a whole lot more, Adenuga’s image looms large. He appears little, and achieves so much more. Hardly seen, but gracefully and consistently felt.

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, Dr. Mike Adenuga Jnr was not a silver spoon kid, but his parents were comfortable.

The indigene of Oru, Ijebu-Igbo, Ogun State was born and schooled in Ibadan. He attended the famous Ibadan Grammar School. He had his university education in the United States. He majored in Business administration with emphasis on Marketing.

While in school, to augment the allowance sent by his parents, he worked as a cabbie (Taxi Driver), putting in many hours of work a week. This culture of back-breaking hard work shaped him for his ambitious business adventures later in life.

Dr. Mike Adenuga Jr is married to Mrs. Titi Adenuga (nee Adewale). She provides the comfort and stability that such an incredibly busy man requires. His children are Oyin, Babajide (Bobo), Paddy, Bella, Eniola, Bimbo, Sade and ‘Niyi Jnr. He also has grandchildren.

FEMI OTEDOLA

Billionaire businessman, and Chairman, Geregu Power Plc, simply addressed as Femi Otedola (CON), is a focused and determined man. He made his choice from day one, and has refused to be derailed. This explains his prolific nature in the world of entrepreneurship, which has directed his life.

One thing is very obvious before all and sundry, and that is the fact the dotting father of four adorable children is really an Epicurus son, and has no place for half measures when it comes to giving himself, his business and of course everyone around him the good life.

It won’t be forgotten in a hurry how the philanthropist spent a whopping Three Million Pounds to rent a cruise boat in celebration of his 60th birthday in 2022.

Born on November 4, 1962, in Ibadan to the family of the late Sir Michael Otedola, a former governor of Lagos State, Otedola is a definition of everything good, positive and encouraging. He has lived his 60 years representing the very essence of living, affecting lives as a philanthropist, developing careers and manpower as a businessman, industrialists and entrepreneur, and raising biological children, who has stood their own in the society. There is hardly anywhere this tall, handsome phenomenon of a personality can be faulted.

The billionaire businessman started his education at the University of Lagos Staff School before attending Olivet Baptist High School from where he was admitted into Obafemi Awolowo University in 1980. He graduated in1985. 

A former chairman of Forte Oil Plc, the Chancellor of St Augustine University, Epe, Lagos, is the founder of Zenon Petroleum and Gas Ltd, and the owner of a number of other businesses across shipping, real estate and finance. He has recently invested in power generation as part of the liberalisation of the sector in Nigeria.

The author of the bestseller, MAKING IT BIG, who has homes in Lagos, Abuja, Dubai, London and New York City has a much impressive existence since he set out to take the bull by the horns in the field of enterprise. This is as chronicled by wikipedia. In 2003, having identified an opportunity in the fuel retail market, Otedola secured the finance to set up Zenon Petroleum and Gas Ltd, a petroleum products marketing and distribution company.

As owner and chairman of Zenon, in 2004 he invested N15 billion in downstream infrastructure development and acquired storage depots at Ibafon, Apapa as well as four cargo vessels, amounting to a combined total storage capacity of 147,000 metric tonnes. The same year he acquired a fleet of 100 DAF fuel-tanker trucks for N1.4 billion.

By 2005, Zenon controlled a major share of the Nigerian diesel market, supplying fuel to most of the major manufacturers in the country including Dangote Group, Cadbury, Coca-Cola, Nigerian Breweries, MTN, Unilever, Nestle and Guinness.

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Boss Picks

The Boss Newspaper Welcomes Folu Adebayo into Its League of Columnists

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By Eric Elezuo

As The Boss Newspaper continues to gain traction, expansion and readership across the media spaces, more intellectuals are joining the long list of columnists contributing beneficial articles and information to the reading public.

The latest among The Boss columnists is AI expert, humanitarian and leading autism advocate among others, Mrs. Mofolu Adebayo.

Folu, as she is fondly called, is an AI expert, technology architect, charity founder, philantropist and autism advocate with academic backgrounds in Science, Law and Artificial Intelligence. She brings a unique perspective that combines technical expertise with lived experience as the mother of an autistic young man.

Her work focuses on the intersection of artificial intelligence, technology policy and neurodiversity, exploring how emerging technologies can improve diagnosis, support, education and long-term independence for autistic individuals.

Folu is passionate about ensuring that innovation is inclusive, and that technology is designed with neurodiverse communities in mind. Through her writing, she aims to bridge the gap between technology, policy and real-world family experiences.

Folu, who writes about the intersection of AI, society, and human potential, also explores how emerging technologies are reshaping the future of work, education, and everyday life. She is also an autism advocate and brings lived experience to conversations about inclusive and accessible technology.

She joins eminent columnists already in the fold of The Boss Newspaper.

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