Boss Picks

Rice: The New Edible Gold

Published

6 years ago

October 18, 2019

Eric

By Eric Elezuo

About two months ago, the President Muhammadu Buhari led Federal Government ordered the closure of the nation’s borders, the Seme border inclusive. His reasons were bordered on the desire to stop the proliferation of small arms and illegal smuggling of food items, especially rice and frozen foods. Ever since then, rice, which hitherto has been Nigeria’s staple food, has become a luxurious commodity as its rice has hit the roof. Since the shutdown, the cost of a bag of imported rice has reportedly jumped by over 40% – from N14,000/15,000 to N21,000/23,000.

In the midst of the complains, the Nigerian government has maintained that its borders would remain closed until neighbouring countries begin to respect Nigeria’s policy on food importation. This notice has elicited negative reactions from neighbouring countries. Niger Republic for one has banned both importation and exportation of good from and to Nigeria; Ghana has cried out, inferring intimidation as they claimed Nigeria goods continue to enter the soil of Ghana while Ghana goods are not allowed to enter Nigeria among other complaints.

Comptroller-General of Customs, Hammed Ali, who spoke for the FG disclosed this when he visited Maigatari border in Jigawa State.

“Most of the criminals are not citizens of Nigeria. They come in at will and go out at will because our borders are so porous. They come and create havoc and disappear.

“This is why the President directed that we should go on and embark on this drill to ensure that we put into place a proper procedure for in and outflow of people.

“We must also get our neighbours to agree with us on the protocols of transit routes.”

He concluded his briefing with a line which many Nigerians considered hilarious. He said “Nigeria has enough food”, stressing that the country will ensure its borders are no longer porous.

Meanwhile, in towns, creeks, hinterlands and remote parts of the country, homes and families lament the adverse effect of the border closure as rice, the staple food of most Nigerian homes, has gone beyond the reach of not a few families.

The Boss investigation reveals that the Seme Border along the Badagry Expressway, has remained firmly under lock and key with security agencies, especially heavily armed military personnel and customs official parading the vicinity. A Seme border source said the security continue to apprehend dire devil smugglers and seizing their merchandise.

Most traders that ply the route complained the unfair treatment of the government in locking down borders, thereby depriving them of legitimate means of livelihood.

“I am a rice dealer. I buy from across the border and move them in legitimately, clearing through customs and other relevant agencies before getting passage. I know there are other criminals in the business who are not involved in the business of legitimacy. But the government should not have punished everybody for the sin of a few,” the trader, who identified himself simply as Ossy said.

He hinted that as a family man, he has been rendered unproductive, and things have become so terrible.

“At the moment, I can hardly feed my family, and swapping to a new kind of business has not been easy. The government should as a matter of urgency review the policy that necessitated the closure.

The trader argued that as a government, there should be a way of handling and dealing with criminally minded people without punishing the general public.

Mr Okechukwu Nwaibe is a transporter, who ply the Badagry/Seme route to take traders to and fro their businesses. He lamented that for the two months the border has been on lock down, he has not earned a coin. This is as activities of traders along the route has not only reduced but has become non-existent. He told The Boss in a voice full of emotion that life has become very unbearable.

It is not only those that ply their trade along the route that are complaining; the consumers of the grain, whose homes have been stripped of their staple food are lamenting more than loudly.

Rice is one food Nigerians keep in the house both for sustenance and emergency purposes. This is because it can be cooked with next to nothing and enjoyed on a low key and one will still be satisfied. The way the food come in handy when needed has made it the food of choice in most average Nigerian homes. Some consume it on a daily triangular basis, and that explains the reason behind the biting scourge as it has suddenly becomes scarce.

Hear Ladeinde Adegoke who works with a privately owned firm:

“I have three children, and if you add my wife, my wife’s niece staying with us and myself, that makes it six mouths to feed. I earn N60, 000 salary on a monthly basis with nothing else attached; no bonus of any kind irrespective of the season. So I have always managed to get a bag of rice for the family to manage on a monthly basis, but now, it has become something else. The price, if you ever find the product, is not affordable. This is what children takes to school every morning, and it has become increasingly difficult to sustain the family. The government is practically taking us back to the early days of Buhari when people had to buy a bag of rice for as high as N25,000,” he said.

Mr Adegoke’s story is the same in virtually every average Nigerian home. Most workers, who are on N100,000 salary and below has been on the receiving end. Even high profile businessmen are not spared as the spiraling effect continue to trickle down.

The Boss’ trip to the Okoko market on the Badagry Expressway where rice sellers converge was met with silence and forlorn faces. Most of the traders said they can no longer find the product to sell, and those who managed to get it has put the price beyond reach.

“As you can see, my shop is empty; I doubt if there is a better reason for closing the border if not to subject the common Nigerians to perpetual suffering. Can you imagine that Customs officials even raided over stores, where we used to pack the products, and carted away consignments in our possession. These were goods we had long before the borders were closed. Honestly, I don’t believe the government is checking anything; they just want to put us through unbearable hardship,” Mama Blessed, a rice seller said.

A very angry respondent, who refused to volunteer his name said “please help me ask them which rice Buhari, Oshiomhole and all of them eat in their homes. This is pure hypocrisy.”

In the meantime, the Economic Community of West African States (ECOWAS) has appealed to the Nigerian government to reopen the borders, even as the Chairman of the ruling All Progressives Congress (APC), Comrade Adams Oshiomhole, has said that the borders will not be opened until certain ‘measures’ are put in place.

The ECOWAS warned that the partial closing of border crossings to Benin and Niger, which prevents the free movement of people, is a violation of agreements signed by Nigeria.

“The closure of the Nigerian borders with Benin more than a month ago, and [with] Niger more recently, [are] a hindrance to the achievement of the Community’s main objective, which is to achieve the creation of a prosperous, borderless West African region where peace and harmony prevail,” the speaker of the Parliament, Moustapha Cisse Lo, said.

It is on record that President Muhammadu Buhari made agriculture and food surplus a policy of his administration on assumption in 2015. This, the government believe will reduce dependence on crude oil and create other means of obtaining foreign exchange. Also, rice and palm oil have been the agricultural product with the greater consideration.

But much as records show that there is increase in local rice production, as reflected between 2013 and 2017, there seems not to be enough to meet the demand of the over 200 million population.

The inability to meet up in addition to stringent import control measures, have kept the price of rice high and led to rampant smuggling of rice across borders.

But while the Nigerian government maintained that the border closure is yielding results, impounding bags of imported rice, Nigerians are asking to whom are the results beneficial.

Speaking to some Nigerians who said they are also feeling the pangs of the border closure, the Boss discovered that some are willing to see the end of the closure and what it portends.

“I think it is a good venture if the intentions are pure. This is because we need a check of this nature because we import almost everything we use in this country including things we can easily produce. Maybe, we will endure the suffering for a few more weeks and then, we fall back to our own products,” Frank Onyeije reasoned.

But in his reaction, the President, Nigeria-Slovakia Chambers of Commerce, Mr. Vitalis Njoku, said the closure would have made more sense if it was all encompassing, and not restricted to the Seme Border, and later to the border connecting Niger Republic. He reiterated that while these borders remained manned because they are structured, other borders are working at full force with little or no restriction.

He was of the view that there is no economic sense in closing borders to stop smuggling or the likes when there is not enough commodity for the populace, saying there can be two reasons for the closure 1. the need to impoverish a certain class of Nigerians and 2. to further enrich a certain class of Nigerians.

“It is laughable to say that the government closed the borders to improve the economy; which economy? There is hardly something you can call economy in this country. The closure as far as I am concerned is a calculated attempt to enrich some and impoverish some. Right now, the prices of food have sky-rocked. This is not about rice. Almost every product…everyone blames the hike in products to ‘closure of border’ and the ordinary man is paying through his nose to buy essentials,” Mr. Njoku said.

The entrepreneur hinted that there is every livelihood that the borders, especially the Lagos corridor, was closed on the insistence of the richest man in Africa, saying that the borders break his monopoly of the food items.

“There is a Dangote connection to this closure saga. Dangote is practically the greatest beneficiary to the closure; he is the one selling his products easily now, at whatever price he deems fit. Recall that he once complained about the importation of most things in the country through the Seme border. He once said, ‘having a neighbour like Benin Republic is bad luck’. The way it is now, the common man is suffering, and the elites don’t care. That is why the likes of Oshiomhole will canvass for continuous closure. They can afford whatever item at whatever price, but can the regular Nigerian?” he queried.

Mr. Njoku also noted that the government policy has heightened crime in the society as many who has been rendered jobless had ‘to do something by all means’. It was also discovered that very poor quality local rice are being re-bagged in foreign rice and sold at the price of foreign rice.

He advised the government to as a matter of urgency reopen the borders as very innocent Nigerians are at the receiving end. Not a few Nigerians fear that a bag of rice is likely to cost as high as N40/45, 000 by December.

In the midst of the confusion, Nigerians are asking ‘where does the seized rice go?’

Boss Picks

Koumagnon Family Pledges Unalloyed Support for Romuald Wadagni As President

Published

21 hours ago

April 9, 2026

Eric

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

Boss Picks

The Billionaire Gang: The Quartet That Keeps Nigeria in Limelight

Published

4 weeks ago

March 16, 2026

Eric

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.

Boss Picks

The Boss Newspaper Welcomes Folu Adebayo into Its League of Columnists

Published

4 weeks ago

March 13, 2026

Eric

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.