Boss Picks

Why Mike Adenuga is Africa’s Hidden Treasure

Published

2 years ago

April 7, 2023

Eric

By Eric Elezuo

In the entire continent of Africa, Dr Mike Adenuga iis in a class of his own-and therefore, it is inconceivable to actually put him in the same sentence or list as any of the others. He is without any shadow of doubt, Africa’s hidden treasure.

The reason is simple: Unlike the others whose worth can be calculated via their listed companies and assets, Adenuga’s intimidating wealth is usually in the realm of speculations, they are mostly privately-owned- which is reason he is usually given any position that meets the fancy of the publications.

Adenuga who hit it big by a dint of hard work and God’s grace is by far the numero uno billionaire on the continent.

Now take out your calculators and start to crunch the numbers: He wholly owns Globacom, a telecommunications network and infrastructure (with operations cross sub Saharan Africa), juicy oil wells, has huge investments in banking, construction and an humongous real estate portfolio.

The serial investor who is simply called The Guru and who signs his name as MA Jnr will hit 70 on April 29, 2022 and The Boss is raising a toast to this giant, this remarkable spirit of Africa that has dared to thread where others dread, and has impacted the African continent with his entrepreneurial and philanthropic spirit.

His passion from giving is not only personal, the culture has also been imbibed by his companies like Globacom.

In the last year, the company dished out goodies most industrialists and multinationals dare not try. It gave out a total of 20 completed and furnished houses, 24 brand new cars, 100 generators, 200 sewing machines and 1,000 rechargeable fans among many other mouth-watering prizes in its 2022 Festival of Joy. Needless to say that many homes were infected with untold joy as landlords emerged from nowhere, just as people became car owners overnight. That is the stuff Adenuga is made of. His preoccupation certainly is discovering new ways to put smiles on the faces of Nigerians.

Before Globacom, Adenuga whom many also call Chairman was one of Nigeria’s silent billionaires. He was known but never seen, and still hardly 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 recognizable 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. The company became Africa’s treasure, and lifted Africans from the doldrum of exorbitant call cost. He made it easy for Africans to own phone lines within a short period of the GSM revolution, especially in the West African sub-region.

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 link Africa directly to Europe and America. The optic fibre cable provides excess bandwidth to all the cities connected to the cable, and has led to a much faster and robust connectivity for voice, data and video.

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. This is his only company that is publicly-quoted.

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 but the fact The bullish bull has been on the Billionaires List for decades is evidence that despite the difficulty in assessing his worth, he is a goldfish that has no hiding place..

Adenuga who got an MBA at Pace University in New York, and supported himself as a student by working as a taxi driver hit his first million as a trader selling lace.

The taciturn man of vision, who has been described as an angel of mercy for his philanthropy and immense propensity to give ceaselessly, in his characteristic disposition, may not be throwing a huge party, when he hits three scores and ten 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, whose daughter, the cerebral Mrs. Bella Disu is the 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), an honour reserved for mostly vice presidents, 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.”

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. He has also been privileged to host the French president at the Mike Adenuga Centre, Alliance Francaise. In fact Macron unveiled the edifice in 2019.

Explaining why the French Government decided to confer the honour on Adenuga, President Macron who described the consumate 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 single-handedly rebuilt the Alliance Francaise, Lagos which is now 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. He set the stage for other Nigerians to contribute to the management of the scourge. That is typical of the Guru, he leads, others follow.

It is not hard to imagine that Adenuga is the richest man in Nigeria, and indeed Africa, and of course when one quantifies wealth in terms of liquidity, and not stocks. He is unmatchable.

It is in order therefore to salute the remarkable business guru, the worthy son of Africa!

Lending his voice to Adenuga invincibility, and the fact that he stands tall above others irrespective of his number in the list of richest men, Ololade Olaoye wrote that “The ratings are usually based on stock market figures and performances. Unknown to many, this often has its limitations.

“In Africa for example, Stock Exchanges are not as vibrant and accurate as in other climes. It is laughable whenever the African ratings accord low figures to someone in the uncommon league of Dr Mike Adenuga Jr., a man who’s practically the wealthiest and most cash-liquid man in Africa.”

He further noted as follows:

“Dr. Adenuga was the first Nigerian to discover oil in Commercial quantity, since 1991, over 30 years ago. Today, he owns about ten oil wells and Conoil, his only publicly quoted company, operates both upstream and downstream, with humongous gas deposits. There are not many such operators in Africa. Most of those individuals with huge investments in the oil sector have since packed up. Adenuga’s tenacity is remarkable and salutary.

“In telecoms, Glo remains a formidably popular and dominant player, fully owned by one man, Dr Adenuga, who makes money every second. His uncommon investments in submarine cables from Europe to Africa gave the Glo network the “speed of life!” as well as the status of the market leader in the highly profitable business of internet.

“Glo is always grossly undervalued when the ratings are announced. For obvious reasons, as not doing so wouldn’t align with the agenda of those desperate to make the man look small.

“In banking, Adenuga owned Devcom Merchant Bank and Equitorial Trust Bank which was acquired by Sterling Bank Plc. Adenuga currently owns substantial stakes in both Sterling Bank and First Bank of Nigeria.

“In Real Estate, Dr. Adenuga’s property portfolio at home and abroad is second to none. His properties dot many city capitals in Nigeria and beyond.

“Not too long ago, he acquired significant interests in Julius Berger Nigeria Plc, the biggest Construction conglomerate in Nigeria. He is heavily into manufacturing and many other sectors of the economy.

“Directly and indirectly, he’s the single largest employer of labour in the country, possibly asides government. It is noteworthy, that his philanthropic gestures are beyond imagination. You should ask about the impact of the Mike Adenuga Foundation. That a good deed does not get reported doesn’t mean good hasn’t been done. Glo has touched the lives of too many entertainers and sports icon. Matter of fact, Glo elevated our celebrities to superstar status and helped to reward the services of some of our forgotten icons. Glo customers are pampered endlessly.

“No wonder, he is often referred to as “The Spirit of Africa…”

“Let us face it, if we counted the numbers, dollar for dollar, Mike Adenuga would sweep everyone off the park. But we are in the world of paid narratives and agenda, when you can buy your place on the rich list and those who already merited their place there don’t mind paying a few bucks to be overvalued. But if you ever become a billionaire, be this one: the billionaire who doesn’t care for the validation of rich lists and the media. The one who touches lives here and there, far and beyond. And ultimately, the one who’s more about the truth of the matter, than the narratives written by others. We all can’t be the Spirit of Africa but trust me, we can learn a lot from his values and essence.”

Following up on the pragmatic nature of the man, whose close friends call The Bull, Chairman, Ovation Media Group, Chief Dele Momodu, in one of his Pendulum accounts titled, Dr Mike Adenuga: Encounters with the Spirit of Africa, wrote to celebrate his 68th birthday in 2021 that he is “a man who touches too many lives from behind his private and exclusive circumvolution.”

The piece is presented in part as follows:

“No man is perfect, and every soul is often misunderstood but I am reasonably convinced that Dr Adenuga’s generosity is out of this world, beyond this realm. He is a pre-eminent African that I have studied as a book and I’m sure I can produce a magnum opus on his life history. His is a life that should have spawned countless autobiographies especially from financial, entrepreneurial and philanthropic historians. I cannot do justice to this monumental human being by trying to capture his life within a single paged column, but I can provide a glimpse into a little of what makes him tick from my personal interaction with him.

“Therefore, let me just give you some of the amazing snippets of our encounters and my uncommon knowledge of him. Please, ignore some of the concocted stories you read about him from time to time. Most are conceived by fiction writers who know that his name can change your fortunes or misfortunes instantly on a good day. Some also try their luck via subliminal messages that are tantamount to blackmail. Trouble is Dr Adenuga is too complicated for most people to unravel. His stories have thus become like fables, the stuff of legends.

“A few months ago, I saw endless missed phone calls from a close friend and professional colleague. By the time I called back, I was very anxious because it was quite unlike my friend to call so frantically and desperately. I conjured a million images in my head about what could have been amiss. I soon discovered what the matter was all about. Apparently, my friend had lamented and grumbled to me about how he used to be very close to Dr Adenuga, but it seemed he had fallen out of favour with the stupendously generous man. I tried to reassure my dear friend that Dr Adenuga never forgets a favour and I’m certain his plate is always full with all sorts which is why he hadn’t yet responded to his attempts at contact and entreaties. His business model is such that he likes to be on top of his game by being hands on. While this may appear strange to many, it has worked so well for him. It is not that he micromanages. It is impossible to micromanage a huge conglomerate such as Dr Adenuga oversees. Indeed, formulating and directing policy, principle and strategy for such a consortium of companies is an arduous task at the best of times. For a man who is fastidious and meticulous in his planning and organisation like Dr Mike Adenuga, it is even more so. Furthermore, I know that Dr Adenuga prefers to deal with people on his own terms and at his own time, probably dictated by his hectic and busy schedule. I therefore advised my friend to be patient knowing that he would be pleasantly surprised.

“Anyway, my friend was in a different mood this time around. “Bod Dee, please, I need a big favour from you Sir!” This further heightened the suspense! “What can I do please, you know I’ll gladly do it if I can…”, I confirmed this to my friend. What he then told me was like I had become a prophet! “Haaa, Bob Dee, ore yin ti fowo semi lese. You don’t want to imagine how much he sent to me…” He was clearly over-excited, almost at the point of giddiness. That’s Dr Mike Adenuga for you. It was one of the reasons I added to his usual monikers The Guru, because of his great intellect and natural flair, and The Bull, because of his physical appearance coupled with the manner in which he brainstorms, barnstorms and battles through prosperity and adversity alike, as well as his zodiac sign and symbol. I coined the appellation “The Spirit of Africa” because he is a man you very rarely see but feel his presence around you in an unmistakable, distinctive and remarkable manner.

“There are tales and complaints about the fact that he does not pick calls nor reply messages but those peddling these stories are oftentimes frustrated by Dr Adenuga’s seemingly indifferent behaviour. Sadly, they don’t actually know that Dr Adenuga is merely responding to a strict code which he has earmarked and defined for himself without understanding and appreciating what is responsible for such a strict code. Those who know him well understand the fact that Dr Adenuga can be very shy and many take advantage of his benevolence and large-heartedness and his unwillingness and inability to say no to people’s needs and requests. As an exceptionally busy man, he does not engage in frivolity. He can’t afford distractions. He doesn’t believe in making a song and dance about his acts of philanthropy, charity and generosity. He will not string you along or make unfulfilled promises. He would simply not talk or revert to you until he is ready. However, when he does react and extend his largesse to you, prepare for a mind-blowing experience.

“Dr Adenuga’s morals, mores and proclivity are dictated by his abundant wealth of experience of life. He’s a very intelligent man who is vastly read and widely travelled. As a result, he not only understands the innate cruelty of man to fellow man, he has also on occasions experienced this first-hand to his surprise and chagrin. These experiences have shaped his thoughts and actions.

“Aside from this, He has had to navigate his way through the murky waters of Nigerian politics. Dr Adenuga avoids and shuns politics like the plague. He does not believe that he must be involved with politics in order for his businesses to survive or thrive. All he campaigns for is an avenue to do business on a level playing field because he knows that he can survive and outlast most people. He considers himself one of the fittest and the best, if not the fittest and the best since he is methodical, calculating and highly industrious and energetic. As he says often, he is hiding his head under the parapet as he is non-aligned and does not want this to be mistaken for support for one side or the other. He knows Nigeria and Nigerians very intimately and does not want to attract unnecessary attention to himself or his business.

“So, after making all this money, how does he enjoy it, I once asked him. He smiled heartily and told me: “Bob Dee, how much money can one individual or his family enjoy? You must spread it and touch lives…that is what brings true happiness and joy. What’s the point if your friend is wealthy and it doesn’t show on you his friends…?” I concurred, words of wisdom from a sage, indeed.

“Everyman should wake up and pray to meet and become good friends with the Spirit of Africa. Trust me, it is worth every second of it. Just imagine a man who dashes out the same kind of cars he drives to friends. He buys these expensive cars in multiples. I have been a beneficiary a few times, so I know. I have a friend who got a Range Rover while his wife got another jeep. How nicer and kinder can one be? No amount of money is too much for Adenuga to shell out on his family and friends. And he really does not expect anything in return. If you have done him a favour then you are truly triply, not doubly blessed, since Dr Adenuga never forgets such favours and offers recompense even beyond your wildest dreams. Dr Adenuga believes that his friends are entitled to the same kind of material things that he wishes for and buys for himself. He has no jealous or mean streak in him in that respect.

“Of course, love must be reciprocal. Dr Adenuga loves integrity and loyalty. Because he hardly goes out, he is able to monitor people and events quietly from his desk and home. He loves people who work hard and is ever willing to offer his helping hand. Since we first met in 1991, I have gained his confidence because he knows my love and respect for him is total and unconditional. He knows my love for him transcends materialism. That is not just because he is Dr Mike Adenuga, one of the richest men in the world, but because he is my mentor and friend and for me true friendship must be total and unconditional. I therefore treat my true friends in the same way, and this just forges our bonds more. Most people fail to understand how truly satisfying and gratifying this approach is. It is an attribute and attitude that Dr Adenuga and I share, and it is why we are content and happy.

“I remember that a few years ago, I had just landed in Dubai on a Saturday morning and promptly checked into my hotel when a call came through from Lagos that I was being invited to dinner with Chairman, as I often call Dr Adenuga, the following evening in Lagos. Confusion instantly set in. A dinner with Chairman is always a treat and privilege. How would I miss such an amazing opportunity? I called the Emirate Airlines and was told the two flights to Lagos and Accra had already departed and the one to Lagos the day after was already overbooked. Based on the lessons I took from Dr Adenuga and Basorun MKO Abiola, that time waits for nobody and that you must always think outside the box to be able to achieve what others would consider seemingly impossible, I wasn’t going to give up so easily. I called The Emirate Airline again and asked if any of their flights could get me to London the same day before 8pm. They told me I could get one if I was ready to downgrade. No worries. I would even sit on a jump seat if necessary. I then called Virgin Atlantic and asked if I could get a seat to Lagos. I was told that this was possible, and I was confirmed. That was how I landed Lagos in the morning of the following day having travelled back to London from Dubai. Needless to say, I made the dinner in the evening. He loves it when you make the impossible possible. It was the portent of good fortune for me since I was able to seal some important deals that evening. Our relationship is truly spiritual, and this has been tested many times. He always knows the right times to send the goodies, almost miraculously.

“His love for the youths of Africa is palpable and they love him too. Nigerians will forever be grateful to him for breaking the seemingly impossible per second billing on telephone services. His heavy investments in laying submarine cables from Europe to Africa also stretches the imagination. The number of our youths who became GLO Ambassadors and superstars on CNN run into hundreds. He has also really done so much too for African football. He has taken our football to greater heights and African football has suddenly become a global phenomenon that can no longer be held back. It is no wonder that Africa continues to get more slots in the FIFA World Cup competition. Despite his unmatched support for the media, Dr Adenuga often suffer savage attacks from those seeking his attention but he has a solid principle: never indulge a blackmailer!

“On a personal note, he has been my mentor and benefactor, brother and friend combined. He’s been a great teacher and I have been his steadfast student. I thank God always for this uncommon grace.”

Dr. Adenuga is many things and more, and today, we preempt his 70th birthday, which is three weeks away, to raise a toast to the ever impressive hidden treasure of Africa.

Boss Picks

Massad Boulos: Inside Story of SCOA Nigeria CEO

Published

3 days ago

December 16, 2024

Eric

By Eric Elezuo

Rising to the pinnacle of one’s career is not a mean feat. Becoming the chief executive officer of any organization, let alone a multinational firm, or by implication, a multi-dimensional company, is an achievement worth celebrating. It is even more legendary when the subject is internationally connected and has enduring links with notable figures, especially America’s President-elect, Donald John Trump, and is thriving without an iota scandal. Mr. Massad Boulos, the Chief Executive Officer of SCOA Nigeria, is that one person.

Born a Lebanese in 1971 to a Greek Orthodox family in Kfaraakka, Koura, Boulos has over the years, while growing, and through career trajectory, acquired three more national identities including American, French and Nigerian. These have projected to the category of international personalities, looked upon as fostering world peace and coexistence.

His name, which translates to Paul to the Apostle, in Arabic, betrays his religious inclination, but his close-knitted relationship with Arab Muslims and other Muslims of the world further cements his open minded attitude towards humanity even as he categorically and vigorously campaigned for Former President Trump, who is today the President-Elect, awaiting the coming of January 20 to become the 46th President of the United of America.

While the campaign and election lasted, Boulos prized himself as Trump’s ‘envoy’ to Arab and Muslim Americans, shuttling through the states of Michigan, Arizona and Florida to convince them that Trump is a better candidate, capable of bringing the Israeli/Hamas war to a sudden end. His efforts paid off as Trump won the election with a landslide.

“Our community in Arizona is so big and so important, we can make a difference. We can make sure we get that margin,” he was quoted as saying by Washington Post in August.

He has been a solid ally of Trump since 2018 when his son began to date Trump’s daughter, Tiffany. Both got married in 2022, and in December 2024, Trump, who described him as an ‘accomplished lawyer’, named him his Middle East advisor.

Going down memorylane, The Washington Post in September, captured the origin as follows: “The war, which began 11 months ago after Hamas-led militants carried out a stunning cross-border attack on Israel, has reduced much of Gaza to rubble. The Oct. 7 attack killed about 1,200 people and saw 250 dragged back into Gaza as hostages, according to the Israeli government.

“But months of negotiations mediated by the United States, Egypt and Qatar have failed to deliver a cease-fire and hostage-release deal. Meanwhile, fewer than half the hostages have returned to Israel alive, while the war has given rise to starvation and disease throughout the enclave.”

A product of a political hegemony as his father and grandfather were prominent politicians, funding the Free Patriotic Front, Boulos however, chose the path of his father-in-law, Michel Zouhair Fadoul, who came into his life much later in existence, and became a truck seller; a profession he committed his very all, and rose to become the Head of its Nigeria axis. That is the SCOA Nigeria; a prolific truck manufacturing and marketing firm.

He however, had political stint as an ally of Michel Aoun’s FPM and represented it in Nigeria, where his business is domiciled.

It was reported that in 2009, the FPM shortlisted him, though by 2018, he was supporting Frangieh’s Marada. Consequently, hia appointment by Trump defines hia capacity to shuttle between both ideological prism, and bring harnessing in Middle East politics.

He said of the Israeli massacre and the subsequent and ongoing war, “Those massacres would not have happened if there was a strong president at the White House. The entire war wouldn’t have happened.

But Trump’s “clear and unequivocal position on this is that he is totally and absolutely against this war… And he’s totally and absolutely against the killing of civilians.”

The Trump Vance team captured his person as follows in a press statement by the Spokeswoman, Karoline Leavitt, while defending him over an avalanche of ‘fake’ information:

“The truth is Mr. Boulos is a highly respected businessman who has proudly served as the CEO of some of his family’s group of companies based in West Africa for more than 27 years and his family has employed tens of thousands of people around the globe.”

The statement further allocated the following achievements to Boulos:

• Mr. Boulos has degrees in both business and law.
• SCOA Nigeria PLC, a member of the FADOUL Group, is a well-known conglomerate that exclusively represents numerous global brands for decades.
• SCOA and the other family group companies have been very successful in the Nigerian market providing high-end products and specialized services to the largest companies in the country.
• SCOA is also part of the Fadoul Group, which is one of the largest privately-owned family businesses in West and Central Africa with a presence in 10 different countries since its founding in 1966.
• The FADOUL Group employs more than 20,000 hardworking people
• The Boulos and Fadoul family companies have developed into a family group with over $1 Billion USD in value and hundreds of millions in assets.

Soundly educated, Boulos, who moved to Texas as a teenager graduated from University of Houston-Downtown in 1993 with a Bachelor of Business Administration degree. He moved to Nigeria to work for SCOA at the completion of his education.

Today, he is a notable shareholding authority in the conglomerate. Boulos, as a matter of principle, will say much about his Enterprises because he “made a practice of not commenting on his businesses”. He allows entities to make their own various conjectures.

A man of peace and saddled with the responsibility of keeping all and aundry qith arms length, Boulos reportedly has ‘links with Christian politicians and parties in Lebanon, including Suleiman Frangieh and the Free Patriotic Movement (FPM) both of which are Christian allies of Hezbollah, but maintained talks with opposition parties like the Lebanese Forces, says Wikipedia.

It was therefore, easy to portray Trump as supportive of “global peace” in the 2014 election campaigns.

As a positive identity and credential, Boulos has acted as an intermediary between the Palestinian Authority and its leader, Mahmoud Abbas and Trump.

Boulos is married to Sarah Fadoul Boulos, who was born in Burkina Faso in 1986? She lived in Houston, Texas, and was a student at Houston Baptist University until 1996, then moved to Lagos, Nigeria. She is a dance instructor, who in 2005 founded the aspirationally named Society for the Performing Arts in Nigeria as a tiny studio in her garage.

More recently, she has been a franchisee of Creative Education International (CrEd) Lagos Island. As at 2020, she worked at La Pointe Delicatessen, in Victoria Island, Lagos.

Together they have four children. While one of their son, Michael, is married to Tiffany Trump, daughter of Donald Trump, another son, Fares, is an actor.

Though he would be holding an important position for the American government come January 2025 when the administration of Trump is inaugurated, Boulos, who has undeniable roots in Lebanon had said his time like during the electioneering will be split.between South Florida and Nigeria, where he oversees his family’s billion-dollar conglomerate, SCOA Nigeria.

Boulos is a longtime proponent of the Grand Old Party (GOP), another name for the Republican Party, His support therefore, for Trump is rooted in both politics and family, and so believes in the Trump Vance Transition Team verdict that, “President Trump wants peace and prosperity for all people.

“President Trump will once again deliver peace through strength to rebuild and expand the peace coalition he built in his first term to create long-term safety and security for both the Israeli and Palestinian people.”

The count begins therefore, on January 25 as Trump resumes office.

However, the management of SCOA in a statement titled “Celebrating the Legacy of Massad Boulos Leadership at SCOA Nigeria”, to further project his image, and prove fake narratives wrong, noted as follows:

Recent media criticisms questioning the breadth of experience and business acumen of Mr. Massad Boulos, the incoming Senior Adviser on Arab and Middle East Affairs to U.S. President-elect Donald Trump, are not only misguided but also dismissive of the remarkable track record of both the man and the companies he has been instrumental in nurturing.

For instance, SCOA Nigeria PLC, where Mr. Boulos serves as Managing Director/CEO, is far from being just another company. It is a formidable force in Nigeria’s industrial and economic landscape. With roots spanning over four decades, it holds the distinction of being the first European automotive assembly plant in Nigeria.

In the 1970’s, SCOA Nigeria PLC made a name for itself by assembling Peugeot 404 and then 504 pickup trucks at its assembly plant at Apapa, Lagos and service center at its Lapal House facility on Lagos Island. Today, the company continues this proud legacy, assembling, distributing, and marketing M.A.N trucks and buses, power generators, tractors, agricultural equipment, industrial equipment and other heavy-duty construction and mining machinery critical to Nigeria’s key sectors.

SCOA Nigeria PLC’s clients include some of the most prominent and respected names in Nigeria’s construction industry, such as Julius Berger—widely regarded as the nation’s leading construction firm—Lafarge Africa PLC, a major cement producer, the Chagoury Group, renowned for developing the prestigious Banana Island, a premier residential enclave in Lagos, the DANGOTE Group, and many others.

Beyond trucks, SCOA Nigeria PLC is a trusted supplier of concrete, road construction and mining equipment, partnering with leading infrastructure companies to drive Nigeria’s development. For example, Julius Berger relies heavily on SCOA’s equipment for large-scale projects, including the 376km Abuja-Kaduna-Zaria-Kano highway and the 43.6km Lagos-Shagamu stretch of the Lagos-Ibadan Expressway and the Abuja-Kano Highway.

Similarly, Hi-Tech Construction, currently working on the 700km Lagos-Calabar Coastal Highway and the Lagos-Badagry-Sokoto road network, depends significantly on SCOA PLC for the machinery and technology required to execute these ambitious projects, aimed at enhancing connectivity and trade across Nigeria’s southern, central, and northern regions.
Similarly,SCOA PLC has also been instrumental in the development of Eko Atlantic City, a groundbreaking urban project built on reclaimed land from the Atlantic Ocean. This visionary initiative, designed to address Lagos’s urbanization challenges and promote sustainable development, has been made possible in part by state-of-the-art machinery supplied by SCOA. Notably, Eko Atlantic City is set to host the United States Embassy, projected to be the largest of its kind globally upon completion, further underscoring the strategic importance of this landmark project.

In fact, SCOA Nigeria PLC’s impact extends beyond Nigeria’s shores. As a member of the FADOUL Group – one of the largest and most successful family-owned businesses in Africa – its influence spans across West and Central Africa. The FADOUL Group, established in 1966, operates numerous successful enterprises, employs over 20,000 people, and is valued at over $1 billion, with hundreds of millions of USD in assets. This legacy highlights the scale and scope of the operations under Mr. Boulos’s leadership.

Contrary to unfounded claims in certain media outlets, the suggestion that Mr. Boulos is not a billionaire is both baseless and misleading. As President-elect Donald Trump rightly described, Mr. Massad Boulos is a “deal-maker,” a characterization grounded in fact. His proven ability to negotiate and execute complex international transactions has facilitated significant partnerships between Nigerian, German, and French businesses, delivering substantial value and mutual benefit.
As a Non-Executive Independent Director of SCOA Nigeria PLC since 2012, I have witnessed firsthand Mr. Boulos’s instrumental role in driving the company’s success. His ability to navigate the complexities of international commerce, exemplified by the supply of a significant fleet of trucks to Lafarge Africa through a tripartite arrangement between a logistics firm, GPC and Union bank plc, has earned him widespread recognition and respect.

Mr. Boulos’s leadership has not only been vital to SCOA PLC’s achievements but also to the broader international business successes of the FADOUL Group. This is precisely the kind of experience and strategic vision he brings to his new role as Senior Adviser on Arab and Middle East Affairs to President-elect Trump.

As noted in a press release by Karoline Leavitt, Trump-Vance Transition Spokeswoman, attempts to smear Mr. Boulos’s reputation are part of a broader effort by opposition elements to undermine President-elect Trump’s nominees. The truth remains that Mr. Boulos played a pivotal role in mobilizing the Arab-American and Middle Eastern-American vote, contributing significantly to the Trump-Vance victory—an achievement that underscores his political and organizational acumen.

Efforts to denigrate Mr. Boulos’s qualifications and achievements are not only futile but also a disservice to the facts. Mr. Boulos’s expertise and accomplishments are well-suited for his new role, where he will undoubtedly deliver impactful results on behalf of President-elect Trump and the United States.

Boss Picks

Celebrating a Man of Outstanding Excellence, Ademola Adeleke

Published

3 weeks ago

November 30, 2024

Eric

By Eric Elezuo

“Since I assumed office, I have devoted myself majorly to delivering on our five-point agenda. I deploy my network locally and nationally in support of our noble projects and programmes for Osun. I am elated that our contributions are being noticed” – Governor Adeleke

In May 2024, two historical events took place to further cement the tag of ‘Performing Governor’, for which the Governor of Osun State, Asiwaju (Senator) Ademola Nurudeen Jackson Adeleke, is known, and justifiably so. They include the conferment of the Asiwaju of Edeland title on him by his community, represented by the Timi of Ędę, HRH Oba Adesola Munirudeen Lawal (Laminisa 1), as well as the best governor of the year award conferred in him by the Vanguard Newspaper.

The prestigious Asiwaju title was previously held by Governor Adeleke’s elder brother, Isiaka Adeleke, who passed away on April 23, 2017.

Today, two years into his administration as the Number One Citizen of Osun State, Governor Adeleke has proved all doubting Thomases wrong, and lifted the state from comatose to prominence with verifiable, welfaristic and people-oriented projects that speak for themselves.

Recall that while stating the reasons behind his award as the Governor of the year, the General Editor, Vanguard Newspaper, Mr Jide Ajani, has said the governor’s attention to Infrastructural development of the state, has been topnotch, with special emphasis to his approval of infra upgrades of several tertiary institutions in the state.

The governor, in his humility, dedicated the award to the entire people of Osun State.

“We watched the video with the Vice Chancellor listing several approvals and even with the Governor asking the University to look into what other areas of intervention the state should act on. That video excites our curiosity and we proceeded to investigate further by leveraging on our team on ground here in Osun as well as a team from the headquarters.

“We discovered what the Vice Chancellor said in the video was a tip of the iceberg. Osun is indeed a huge construction site. You have continued to complete abandoned projects. You have completed many inherited projects from your predecessors

“We have your records on roads, bridges, water, school and health center upgrades among others. We read your multi-billion naira infrastructure plan and its ongoing implementation. You did not play politics with the development of your state.

“It is the totality of your passion for development that convinced the judges to confer the award on you. It is our hope that this recognition will spur you to an even greater push to deliver on your governance agenda”, Ajani had said.

In response, the Governor acknowledged as follows:

“Since I assumed office, I have devoted myself majorly to delivering on our five point agenda. I deploy my network locally and nationally in support of our noble projects and programmes for Osun. I am elated that our contributions are being noticed.

“I dedicate this award to the good people of Osun state. They made our positive records a reality. We have the unconditional support and love of our people in our push to take Osun to greater heights. I will personally attend the conferment in Lagos.

“Our government is forging ahead with our systematic physical and stomach infrastructure agenda. We are working on a new airport, an inland beach resort, cocoa sector revival, upgrade of the free trade zone for agro-industrialisation, robust climate change agenda and digital economy programme. We are on a mission to place Osun on the path of sustainable development”, the Governor told the visiting delegation.

THE MAN, ADEMOLA JACKSON ADELEKE

Born of the Adeleke family of Ede in Osun State on May 13, 1960, Adeleke commenced his primary education at Methodist Primary School, Surulere Lagos State before he was privileged to relocate to Old Oyo State to continue his education at Nawarudeen Primary School, Ikire.

Adeleke was born Nurudeen Ademola Adeleke to a Muslim father and Nnena Esther Adeleke, an Igbo Christian mother. Like him, Adeleke’s father, Raji Ayoola Adeleke was a Senator and the Balogun of Ede land in Osun State. His father, Raji Ayoola Adeleke was also the leader of the Unity Party of Nigeria (UPN).

On completion of his primary education, he moved on to The Seventh Day Adventist Secondary School, Ede to begin his post primary schooling. In the later years however, he attended Ede Muslim Grammar School Ede, where he completed his secondary school education and subsequently relocated to the United States of America, joining his two older brothers, who were also studying there.

In the United States, he joined Jacksonville State University, Alabama, and studied Criminal Justice, with minor in Political Science.

To prove doubting Thomases, who wiped up controversies around his educational qualification, wrong, he went back to school and got enrolled at Atlanta Metropolitan State College in the United States, where he obtained a Bachelor of Science degree in Criminal Justice in 2021.

A businessman and administrator of no mean repute, Adeleke was the humble Group Executive Director at his brother’s company, Pacific Holdings Limited from 2001 to 2016, where his credible performances shot the company to enviable heights; a height it is still enjoying till date.

It is imperative to note that before he joined Pacific Holdings Limited, Senator Adeleke worked with Quicksilver Courier Company in Atlanta, Georgia, US, as a service contractor from 1985 to 1989. His dexterity to work earned him a progression in career, and he berthed as Vice President at Origin International LLC, Atlanta, Georgia, US, a flavours and fragrance manufacturing company. His meritorious stewardship lasted a period of five years, from 1990 to 1994.

Not a few has described Adeleke as the philanthropic capital of Ede, as his influence in aiding the less privileged and downtrodden remains top notch. He is a voracious believer in community development, and has not spared any expense to see that his community receives global influence.

Politically, Adeleke is a beacon of light and hard nut to crack, having remained an albatross to opposing powers and a reference point to ideal administration.

Shortly after he lost his brother, Senator Isiaka Adeleke, who died in April 2017, he contested the Osun West 2017 Senatorial by-election after the death of his brother, emerging as the winner under the Peoples Democratic Party, where he decamped to from the All Progressives Congress (APC).

Having emerged senator, Adeleke’s political influence waxed stronger, an on July 23, 2018, he emerged as the governorship candidate of PDP in Osun State after defeating Akin Ogunbiyi by seven votes. Efforts made to deprive him of the mandate was twated by the courts.

Adeleke’s lawyer in his defense claims his secondary school hasn’t come out to deny his testimonial asking the court to dismiss the Case. The court dismissed the suit stating that the plaintiff could not prove Adeleke’s forgery.

Adeleke ran for Osun state governorship election under the PDP against top contenders Alhaji Gboyega Oyetola of APC and Iyiola Omisore of SDP on 22 September 2018. The election was declared inconclusive by the Independent Electoral Commission (INEC) while Adeleke was leading, and a rerun slated on September 27, 2018. The candidate of the APC Oyetola was declared winner after the run-off. Adeleke protested the result describing the election as a “coup”.

Much as on March 22, 2019, the tribunal sitting in Abuja declared Adeleke the winner of the election, the Supreme Court later affirmed Gboyega Oyetola as the authentic winner of the 2018 Osun State governorship election on Friday, July 5, 2019

Popularly known as the Dancing Senator because of his penchant to joyfully react to the sounds of music, Adeleke is uncle to one of Nigeria’s popular musicians, Davido.

Governor Adeleke is married to an equally successful businesswoman and a self-made boss. They are blessed with three children who are all entertainers. They are B-Red and Shina Rambo and a daughter, Nike Adeleke. He is the uncle of one Nigeria’s primus inter pares in entertainment, Davido.

As expected, Adeleke is moving Osun State to the greatest of heights as he promised, and many who know him agree that there are still very many more in the offing.

ADELEKE’S EXTRAORDINARY EASE OF DOING BUSINESS STRATEGY

The governor has shared good news on the ease of doing business in the state as follows:

In continuation of our administration’s effort to improve the state economy and encourage the Small and Medium Enterprises (SMEs), we have completed the harmonization of multiple taxes and levies collected by different government departments, agencies, and ministries across all business sectors of the state economy including the informal sectors into a single bill. This Harmonized Bill curates all levies, which businesses are expected to pay on an annual basis as a single bill.

This initiative is to promote ease of doing business by ensuring seamless and convenient payment of levies and taxes due to individuals and businesses across the state in equal or unequal tranches and ensure the issuance of Harmonized Bill Certificate upon completion of payment of the total amount.

I hereby note to all business owners in Osun state both in formal and informal sectors that the official online payment channels for the state is pay.irs.os.gov.ng; POS machines in Tax stations across the state; commercial banks across Nigeria; and Money Transfer Services for those outside Nigeria.

In addition, we have also completed the deployment of Automation System for improved service delivery on payment of rent and lease on government properties; processing of Certificates of Occupancy (C of O) in 45 days; Electronic Affidavit System; Electronic State of Origin and Local Government Area of Origin portal; Mobile tax stations; Online Tax payment system etc.

ADMINSTRATION’S ACHIEVEMENTS AS SHARED ON NEW YEAR DAY

The governor declared as follows:

The good people of Osun state at home and abroad.

I greet you warmly with best wishes of a prosperous and blessed new year. I convey my intimate prayers that the new year will bring us new opportunities, progress and advancement as a state and in our individual lives.

I extend new year greetings to the elders of Osun state; to our royal fathers; to our religious leaders; to the young and the old; to professional elite, to artisans, to students and to womenfolk. Accept my sincere appreciation for your support before my election and for the last one year of my governorship of our dear state. I am humbled by your prayers and mass backing for our administration.

I remain firmly focused on the Five Point Agenda under which you, Osun people, elected us into office. We reaffirm our faith in the principles guiding the five point agenda which are transparency and accountability, open government, localisation, responsive leadership and attunement to citizens’ aspirations.

On the strength of the above, our government devised wholesale approach to governance such as:

●Dismantling bobby traps planted by our predecessor,
●Blocking leakages in public finance, ●Addressing the corruption and revenue diversion in the solid mineral sector,
● Restoring local government administration for grassroot development
● Embarking on mass water project provision
● Executing 91 kilometers of road construction
● Implementing free medical surgeries with over 50,000 beneficiaries;
● Total renovation of 31 schools
● Launching sport sector reforms
● Reviving the major commercial and industrial projects of the state
● Pushing for implementation of agric processing zone in Osun state;
● re-professionalisation of the public service;
● Strong attention to workers’ welfare;
● Tapping into tourism, entertainment and cultural potentials of the state;
● Ramping up efforts for a cargo and commercial airport for Osun state, among others.

Our administration achieved a lot by ensuring belt tightening, reducing cost of governance and denying ourselves many perquisites of office. As a Governor, my official expenditures are covered through the approval process rather than security votes, thereby assuring transparency and accountability.

As of today, our administration is struggling to purchase official vehicles for the state cabinet because the officials of the previous government bolted away with state vehicles. So our cabinet and other top officials have been using their private cars since we appointed them into office. Also, we are still working to renovate the official quarters vandalized by the officials of previous governments. Many of our top officials still operate from their private houses.

Despite the above handicap, our team is determined to continue to deliver on our electoral promises. I am glad to report with gratitude to God that we have remained responsive to the will and aspirations of our people. We get positive feedback and we are satisfied with our high approval ratings.

We are challenged to do more. We are prepared to make corrections where necessary as much as we will remain uncompromising when it comes to anti-corruption drive, transparency and accountability as well due process. As I always affirm, our tenure is married to rule of law and fear of God…

Adeleke is busy creating an Eldorado out of what remained of Osun State barely two years after he took over the driving seat.

Boss Picks

When Governor Adeleke Became Asiwaju of Edeland

Published

3 weeks ago

November 30, 2024

Eric

By Governor’s Office

OFFICIAL PROFILE OF GOVERNOR ADEMOLA ADELEKE, THE NEW ASIWAJU OF EDELAND

Governor Ademola Jackson Nurudeen Adeleke, the Executive Governor of Osun state and the new Asiwaju of Edeland is a pan Nigerian by birth, by philosophy and by worldview. Born at Enugu as a son of independence on 13th May, 1960, the new Ede frontliner widely acknowledged as the Olosun of Osun is a tactical politician, a businessman, show business activist and a humanist within philanthropism. The ever lively, urbane scion of the Adeleke family of Ede North Local Government is an innovative entrepreneur, a grassroot political figure and a strong advocate of good governance, then as a Senator of the Federal Republic of Nigeria and now as the Governor of Osun State.

From his childhood, the Asiwaju is a man of complex character, a young man with multiplicity of talents and an adult with widely praised open heart, strong will and constancy of adaptation to ideas and innovations. From his secondary education at Ede Muslim Grammar School to his sojourn to the United States and tertiary education at the Jacksonville State University, Alabama where he majored in criminal justice, the Ede frontliner demonstrated deep business interest, unconventional approach and a rare mastery of intricacies of politics, business and social life.

Despite hailing from a well to do family, the Asiwaju was in the United States and Nigeria, a man in search of opportunities for self growth and advancement. His passion for self development and business prosperity occasioned his joining the Quicksilver Courier Company in Atlanta, Georgia, US, as a service contractor between 1985–1989. He progressed to Origin International LLC, Atlanta, Georgia, US, a flavours and fragrance manufacturing company where he served as Vice President from 1990 to 1994.

A suave businessman and administrator, he served as a Director of Guiness Nigeria Limited between 1992- 1999 where he contributed immensely to the expansion of the multinational company. He was later appointed Group Executive Director of Pacific Holdings Limited from 2001 to 2016. Senator Adeleke is also an acclaimed creative Industry entrepreneur and mentor. As a talented creative figure, he mentored world rated ace musicians while his family members and children are leading stars in the global music industry.

As a man ever restless in pursuit of self growth and opportunities, the Asiwaju again opted to restart his educational sojourn which he suspended because of business and entrepreneurial preoccupations. In 2019 after he was rigged out of a governorship election he clearly won, Governor Adeleke, in a can do spirit, re-enrolled at Atlanta Metropolitan State College in the United States and obtained a Bachelor of Science degree in criminal justice in 2021.

All along and considering his family background, the frontliner was for years both a political servant and leader, learning the rope from his father (Senator Ayoola Adeleke) , a second republic progressive Senator of the Federal Republic of Nigeria and his brother, Senator Isiaka Adetunji Adeleke, the First Executive Governor of Osun State. His business teeth were sharpened by his brother, the global business mogul, Dr Adedeji Adeleke while his political potency was strengthened by his sister, the Yeyeluwa of Edeland, Chief (Mrs) Dupe Adeleke- Sanni. The celebrant of today was eventually elected the President of the Adeleke dynasty, representing the sons and daughters of the great Adeleke family at home and abroad.

Having been thus fortified by his innate personality, his family background and his multifaceted experience, his political participation predated 1991 but he took the front seat in 2017 when he was elected with a landslide victory as a Senator for Osun West Senatorial District in 2017. His popularity reached a peak when he won the Osun 2018 governorship election before the open rigging and manipulation that was globally condemned.

As a man of steel character, the frontliner took the gauntlet again in 2022 and beat the incumbent to reclaim the stolen mandate of 2018. Imole as the Governor is popularly known has since been delivering on good governance, winning applause and praises from far and near.

In December 2023, he was honoured with a doctorate degree by the Valley View University, Accra, Ghana. The Vice Chancellor lauded the Governor’s multi-million naira education scholarship as a Senator, his sterling records on workers welfare as a Governor, his performance on infrastructure upgrades and his commitment to due process, rule of law and fear of God.

He has received several awards including the Governor of the Year Award by Champion newspapers in 2023, Sahel Standard Man of the Year in 2022, Vanguard Newspaper Governor of the Year on Infrastructure and a host of other recognition. The frontliner serves on several national governmental committees including being the representative of the South West on the National Minimum Wage Committee.

The new Asiwaju of Edeland is a strong family man, an avid sport lover, a man of God and a David of our time with incessant passion for praise singing and adulation of God Almighty.

Courtesy: Governor’s Office, 2024.