By Eric Elezuo
Across the globe, in the homes and the hearts of the millions that Dr Mike Adeniyi Agbolade Ishola Adenuga Jnr has touched and impacted with his businesses and philanthropy, a word of prayer would definitely be said for him as he rocks at 69.
Indeed, when the history book of Nigeria’s business elites is written, there is no shadow of doubt that many chapters will be reserved for the ‘big man’ Mike Adenuga Jnr., and as each year meets him in his great works, the chapters keep increasing.
The business genius who is simply called The Guru and who signs his name as MA Jnr clocked 69 on April 29, 2022 and The Boss is raising a toast to this giant, this remarkable spirit of Africa that has dared to thread were others dread, and has impacted the African continent with his entrepreneurial and jovial spirit.
As at today, the gentle giant is worth seven billion dollars ($7 billion) according to Forbes
Before Globacom, Adenuga whom many also call The Chairman was one of Nigeria’s silent billionaires. He was known but never seen. His Consolidated Oil was achieving remarkable feats in the oil and gas industry without any fanfare.
Then came Glo, and he became one of the most recognisable Nigerians alive. The reason was because Globacom, the first and only telecommunications brand wholly owned by a Nigerian, became a mega success in a very short space of time.
Glo introduced innovative products and delivered first-rate service and before long, Adenuga had taken this winning formula to other African Countries-Republic of Benin, Ghana and Cote D’Ivoire.
It also became the first indigenous company to lay an international submarine cable, Glo 1, which has gigantic capacity to Africa directly to Europe and America. The optic fibre cable provides excess bandwidth to all the cities connected to the cable, and has lead to a much faster and robust connectivity for voice, data and video.
Though Forbes will rate him as Nigeria’s second richest Man, many who should know have confirmed that Adenuga is the unchallenged richest man in Nigeria and Africa.
Adenuga has over the years learnt to mold his companies into major, if not dominant, players. In the oil and gas sector, Conoil Plc is one of the largest and most profitable oil marketing companies in Nigeria. Conoil Producing, the downstream arm of the conglomerate, made history by becoming the first Nigerian company to strike oil and produce it in commercial quantity in 1991. In banking, Equitorial Trust Bank (ETB) was one of the few banks that effortlessly met the N25 billion capital requirement during the 2005 banking consolidation exercise without going to the stock market. It only merged with Devcom Bank which was also owned by Adenuga, and later merged with Sterling Bank.
With his fortunes in oil and gas, real estate and the cash cow of telecommunications, it is doubtful if any Nigerian has his raw cash. It is difficult to access his earning because most of his wealth are not listed and held privately, it is not for nothing that The bullish bull has been on the Billionaires List for decades.
The following are fresh bits of his exposition:
- Adenuga, Nigeria’s second richest man, and sixth in Africa, built his fortune in telecom and oil production.
- His mobile phone network, Globacom, is the third largest operator in Nigeria, with 55 million subscribers.
- His oil exploration outfit, Conoil Producing, operates 6 oil blocks in the Niger Delta.
- Adenuga got an MBA at Pace University in New York, supporting himself as a student by working as a taxi driver.
- He made his first million at age 26 selling lace and distributing soft drinks.
The taciturn man of vision, who has been described as an angel of mercy for his philanthropy and immense propensity to give ceaselessly, will certainly not be throwing a huge party, not because of the COVID-19 pandemic though, but in the homes of many who have felt him, there will be abundant prayers and celebration.
He is a quintessential leader who has the uncanny ability to spot and nurture talents. Reputed to be very hands on in the operations of his businesses, Dr Adenuga who has appointed his cerebral daughter, Mrs Bella Disu as Executive Vice Chairman, Globacom, still gets briefs on the day-to-day running of his business empire.
Dr Mike Adenuga Jnr ‘s contribution to the business world has not only been recognised locally but he has also attained international acclaim.
In Nigeria, he holds the highest civilian honour of Grand Commander of the Order of the Niger (GCON) and in Ghana, he was awarded the highest civilian honour of Companion of the Star of Ghana (CSG).
According to President John Mahama who conferred the indefatigable businessman with the honour at a state ceremony ” You have touched many lives in Ghana. You have provided employment for our teeming youths, artists, footballers and many more. I am particularly proud of you. This award is our way of a saying a simply thank you.”
In fact, the long list of Adenuga’s beneficiaries is endless. This is even excluding all his special touches on lives through Glo and other sundry businesses he supervises. On a day like this, Glo is hosting a conglomerate of music makers in Glo Battle of the Year show at the prestigious Convention Centre, Eko Hotels and Suites. He had a great sponsor of the Ovation Carol, a musical fiesta that raises young talents. Adenuga is an enigma, to say the least.
The entrepreneur extraordinaire was also honoured with the award of Chavalier de la Legion d Honnuer, the highest National honour of France which was bestowed on him by French President, Emmanuel Macron.
Explaining while the French Government decided to confer the honour on Adenuga, President Macron who described the serial businessman as a true model of Africa noted that he had contributed immensely to the African and French Economy.
He also applauded Adenuga for his promotion of the French Language and culture in Nigeria. Adenuga is single-handledly rebuilding the Allance Francaise, Lagos which will now be part of the Mike Adenuga Centre located on Osborne Road, Ikoyi.
Adenuga, during the peak of the COVID-19 pandemic, received the singular accolade of being the first to donate N1.5 billion to fight the dreaded coronavirus scourge. That’s the height of his philanthropy; highly enviable.
It is not hard to imagine that Adenuga is the richest man in Nigeria, and of course when one quantifies wealth in terms of liquidity, and not stocks. He is reputed to own all his businesses, and regulates the flow of its revenue, albeit singlehandedly.
It is in order therefore to salute the remarkable business guru, the worthy son of Africa, who is happily married with seven children, at 69.
Congratulations sir! We celebrate you!
