Boss Picks
GLOBACOM: Celebrating 20 Years of Market Leadership, Impact
By Eric Elezuo
Hurray! Globacom is 20!
The story of Nigeria’s thriving indigenous telecommunication network, Glo, is a story of doggedness, commitment, dedication and unbroken focus. This is considering the fact that the originator of the brand ventured into a terrain hitherto unknown to Nigerian business, overcoming the harsh business environment, familiar intimidation and huge financial involvement.
It is worthy of note that the first step towards hoisting the Glo network was a herculean task on its own as the overriding fame of Econet and MTN, was already on the ground with experience and huge financial muscle, taking the available space and thriving in all ramifications. It therefore, only required a tough and out of the box business acumen to bring Glo to existence. And this was what the man known by many names including the Bull and Spirit of Africa, Dr. Michael Adenuga, did. He practically crashed the network ego, raising the customer to the kingship level and made him the sole concern of telecom business. This he did by bringing on board the famed per second billing; something nobody believed was possible.
The fact that the brand lost its initial $20 million after emerging as one of the four winners in the bid auction process to operate the just introduced Global System of Mobile telecommunications (GSM) in Nigeria, did not deter it from following the dream to give Nigerians equitable telecom service. The colossal loss may have been a blessing in disguise as it gave the team a leverage to come back smoking with ideas that changed the entire telecom world for good.
The brand is 20 years now, having waded through the murky waters of competition and churning out one great after another to the applaud of global citizens.
In a press statement celebrating the 20 years of impactful existence, and appreciation to Nigerians, the telecom giant lauded the government and people for their support.
The statement recalled that it had been two decades of transforming the telecommunications landscape, fulfilling dreams, and positively affecting the lives of millions of Nigerians.
“Since inception in 2003, Globacom has been true to its resolve to provide world-class communications and digital services through constant deployment of latest technologies in line with the corporate promise to build a robust ICT network infrastructure that would consistently deliver value to its esteemed customers.
“Glo has been at the forefront of revolutionary changes in the telecommunication sector in Nigeria. It crashed the cost of acquiring SIM cards in the country from about N25,000 to just about N200. The network also disappointed bookmakers as it launched operations on a Per Second Billing platform, a feat others had described as impossible to achieve until another five years.
“Prominent among the innovations Glo pioneered in Nigeria are Blackberry, Multimedia Messaging Service (MMS), Magic Plus, Glo Direct, Glo Fonepals, Africhat, Glo Mobile Internet, GloFleetmanager, M-Banking and Glo Mobile Office. Glo was also the first to launch 2.5G, 3G and 4G LTE networks. It also singlehandedly built an international submarine cable, Glo 1 to connect West Africa directly to the United Kingdom and the rest of the world. It also connects 12 nations in the West African sub region, including some of them that are landlocked.
“Glo1 is credited with crashing the cost of internet services and is today the preferred cable system by global OTT providers. It connects thousands of kilometres of national fibre to all parts of Nigeria.
“As we celebrate our achievements these past twenty years, we wish to acknowledge that Globacom’s huge success is a result of the support of millions of Nigerians. We wish to thank them for their love and patronage and for the unprecedented confidence they have consistently shown in the company,” the company said.
“While restating its commitment to the provision of world-class communications and digital services in line with its corporate resolve to build a robust communications and technology infrastructure that would consistently deliver value to its esteemed customers at launch, Globacom noted, We will remain a catalyst for socio-economic empowerment not only in Nigeria but also in Africa. We will continue to invest massively in new technologies to exceed customer.”
In a nutshell, the story of the phenomenal impact and market leadership of Glo is better told by Glo itself as captured below:
The story of the rise of indigenous telecommunications company, Globacom, is like a fairytale.
It would be “remember clearly, as if it was yesterday, when its promoter and self-effacing billionaire, Dr Mike Adenuga, appeared to have hit a blank in his attempt to venture into the telecommunications business in 2000.
His company, Communications Investment Limited (CIL), was first issued a conditional licence in 1999 to operate the Global System of Mobile telecommunications (GSM). This followed its emergence as one of four winners of the bid auction process. Adenuga paid the $20 million mandatory deposit. However, in the process of effecting the release of the balance payment of $265 million, the licence was unfairly revoked and he lost the $20 million deposit. It was a colossal loss, but the bullish businessman who is renowned for his tenacity was undeterred. The other three winners, MTN, Airtel (then known as Econet) and M-tel proceeded to roll out services.
Two years later, Adenuga went on to bid for the Second National Operator (SNO) license, and deposited another $20 million. This time, he was lucky. He won the bid in August, 2002, through Globacom Limited. Incidentally, the SNO has a wider range of operations as it gave Globacom the right to operate as a national carrier, operate digital mobile service, serve as international gateway for telecommunications in the country, and operate fixed wireless service.
Globacom was to roll out services a year later, precisely on August 29, 2003. The odds were heavily stacked against Adenuga because by then, the other operators already had a two-year head start over Adenuga’s Glo. Secondly, he was venturing into a completely new terrain. Considering that MTN and Econet both had years of experience in the business in other countries, many expected Globacom to stutter.
However, the doubts soon evaporated. Not only did Globacom stun the industry by launching on per second billing, it also crashed the cost of acquiring a GSM line from N30,000 to N6,999 and later to N200. The older operators who, for two years boasted that it was not possible to launch operations on the billing platform as no operator in the world had done this before, were left playing catch up. Like a rampaging bull (which incidentally is Adenuga’s totem), Globacom embarked on a massive rollout of facilities and operations in several towns and cities across the country, and within nine months amassed over one million subscribers. Consequently, it established a reputation as the fastest growing GSM network in Africa.
Since that remarkable feat by Globacom, it has been one endearing success after another for the Nigerian company. In an industry where it was expected to lag behind the established multinational operators, Glo is not just rubbing shoulders with them, it has, indeed, been the pacesetter. It has come to be regarded as a behemoth in Nigeria’s telecom space.
It was the first operator to launch the 2.5 Generation technology, making the convergence of voice, data and multimedia technologies possible. Hence, Glo was able to launch such value added services as vehicle tracking, mobile internet, mobile banking, multimedia messaging service (MMS), voice SMS, and Text2email before the multinationals who were still running on 2G then.
Globacom also pioneered Blackberry Services in Nigeria, and the device was for a long time the rage among business executives and in social circles.
The introduction of the 3G Plus technology marked the second time that Globacom has been in the forefront of pioneering the latest transmission network in Nigeria. With this technology, Glo was able to carry out a much faster transmission of data, voice, broadband internet and multimedia services over a range of frequencies. It also allowed customers to do video call, video streaming and high-speed mobile internet access, amongst others, from their 3G mobile handsets.
Globacom was not done yet in setting the pace yet as it also become the first network to launch a nationwide 4G-LTE network in Nigeria. The technology offers efficient broadband internet to millions of Nigerians at speeds that are several times faster than the 3G network. Subscribers on the network are able to download ultra-high definition videos in seconds.
But perhaps one of the most audacious projects undertaken by Globacom was the construction of an international submarine cable, Glo 1. Launched in 2010, the project was said to have cost over $800 million. It was the first time a gigantic project of this nature had been undertaken by a single company.
The facility which has brought unprecedented bandwidth from Europe to Nigeria and other West African countries marked the beginning of the crashing of bandwidth costs in Nigeria and the rest of West Africa, thereby facilitating more access to broadband internet. With this intervention by Globacom, almost everyone who can afford a smartphone is able to use data. Also, according to industry sources, Glo 1 is currently providing the much needed connectivity to critical sectors of the economy. Companies in the Oil and gas, manufacturing, banking, commerce, education and health sectors as well as several multinational companies, including telecom operators and internet service providers (ISPs), are said to benefit from Glo 1.
Glo 1 has also played a major role in Nigeria’s broadband penetration which currently stands at 44.5 per cent. The penetration is principally driven by major players in the telecom sector, such as Glo 1. Globacom has also invested generously in the infrastructure to deliver the last mile to end-users, while also breaking the cost barrier by introducing affordable tariffs.
While commenting on the impact of Glo 1, Globacom sources said, “With the 4G expansion to tier 2 and 3 cities, Glo1 acts as the catalyst in propagating broadband penetration in Nigeria and acts as an enabler for enterprise customers to provide world class connectivity to all their offices and factories across Nigeria. Many cloud computing companies who cater to the Small and Medium Enterprises (SMES) are setting up shop within the Glo partnered data centers. Using Globacom’s robust terrestrial infrastructure, Glo1 has seized this opportunity to backhaul their traffic to other data centers across the world.”
It is remarkable that it is a Nigerian company that has pulled off this ambitious project. One of Adenuga’s close associates said the idea of building a submarine cable berthed when the entrepreneur went on a business trip to Paris, the French capital, sometime around 2008. While there, he found out that telephone calls to Nigeria were epileptic unlike the connection between France and other parts of Europe. When he made enquiries about what could be done to solve the problem, he was told it was to have an international submarine cable. There and then, Dr Adenuga decided to build Glo 1, and the rest is now history. The project is a testament to the entrepreneurial spirit and foresight of the man behind Globacom.
For those who know Adenuga well, it was not surprising that Glo was able to quickly established itself as the pacesetter in the industry, despite commencing business two years after MTN and Airtel (then called Econet).
Other areas Globacom has effectively set itself apart are customer-empowerment, sustainability and promotion of Nigeria’s arts and cultural heritage. From 2003 when it commenced operations to date, no company has affected the lives of its subscribers and, indeed, the Nigerian people the way the telecommunications company has done.
Over the years, the company has launched series of promos through which different types of empowerment prizes including millions of naira in cash prizes, luxury cars, tricycles, sewing machines, generators, television sets and grinding machines have been won by Nigerians across the country.
For so many years, it supported the development of Nigerian sports through the sponsorship of the Nigerian Premier League and the national football teams of Nigeria when no other corporate organisation wanted to touch the assets. The company spent billions of naira in developing the Nigerian league and national teams, and this culminated in Enyimba Football Club winning the prestigious Champions League twice in a row, while the Super Eagles won the Nations Cup in 2013.
Nigeria’s entertainment industry has also received a massive boost from the telecom operator. It has so far brought two of the world’s biggest reality television shows to the country. They are X-Factor, which produced DJ Switch as winner, and the Battle of the Year which was held between October last year and April, this year.
In addition to this, Globacom has over the years also held its own music and comedy shows across different cities and campuses across the country. The shows, including Rock ‘n’ Rule, GloNaija Sings, Laffta Fest, Slide and Bounce concert, and Glo mega Music, were some of the platforms through which Globacom entertained and delighted Nigerians. But more importantly they helped deepen the entertainment industry by giving budding talents in music and comedy and platform to showcase their abilities.
Similarly, the nation’s art and culture have also been positively touched by Globacom. From Ojude Oba in Ijebu-Ode, Ofala in Onitsha, Lisabi in Abeokuta, Imeori in Abriba, Oru – Owerri in Imo state, amongst others, the company has through sponsoring the festivals not only brought theme to international limelight, but has also turned them into major tourist attractions.
There is hardly any aspect of life that has not been positively touched by the telecommunications company.
Looking back at the gigantic milestones it has recorded, one would find it difficult to believe that it is just 19 years old. But would any less be expected from a company founded by Dr Mike Adenuga? He made clear his intention from the beginning with a very bold vision statement, “Building Africa’s biggest and best telecommunications network”. He is known to think and dream big – a very tenacious and dogged entrepreneur who likes to grow his businesses to dominate the sectors he operates in. Globacom has not only matched the multinational operators pound for pound, but it has, indeed, dominated Nigeria’s telecommunications sector these past 19 years.
Glo, As Nigeria’s Empowerment Champion
Globacom has not only transformed the telecoms sector with its technological infrastructure, product innovations and quality service delivery, but it has also shown unparalleled commitment to improving the lives of its customers. Its empowerment initiatives cut across Innovation and Affordability, which have given millions of Nigerians access to telephony and allied services, Entertainment, Sports and Promotions, Festivals, among others.
Innovation and Affordability
Glo was the only operator in Africa to launch its operations on the superior 2.5G network which enabled the convergence of voice, data and multimedia technologies.
But more importantly, it launched 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 event 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 are able to own a GSM line today.
With its massive investments in building over 20,000 kilometres of fibre optic backbone across the country, 4G technology and Glo1, the first ever individually owned international submarine cable from the United Kingdom to Nigeria, Globacom has availed its subscribers the much needed internet bandwidth. This has led to what is called the democratization of data. For instance, with just N500, a Glo subscriber will get 2GB data, with N50 the customer gets 50MB, N100 gives 150MB. For big users on the network, they can get 675GB for N75,000 and 1Tera Byte (TB) for N100,000. The company also gives double data bonus to Glo subscribers. No wonder it is called the grandmasters of data by admirers!
Apart from boosting internet service to end users, Glo 1 is also providing connectivity to essential sectors of the economy such as oil and gas, manufacturing, banking, commerce, education and health, among others.
Entertainment
Globacom has always been associated with the development of the Nigerian music industry, since its inception, from its involvement with Nollywood and leading Nigerian music talents to the sponsorship of music shows such as Rock ‘n’ Rule, GloNaija Sings, Laffta Fest, and the world’s number one music singing talent reality TV show, X Factor. Others are Slide and Bounce concert, an entertainment tour which went round all the Geo-political zones of the country as well as Glo mega Music show, another platform through which Globacom entertains and delights Nigerians.
These programmes are meant to discover and help nurture budding talents. The company also supports the movie industry in Nigeria (Nollywood) and in Ghana (Ghollywood). Many of the actors and actresses in both countries have been chosen as Glo Ambassadors, thus projecting the continent in a refreshing light through African movies.
Globacom brought the world’s biggest dance reality show, Battle of the Year, to Nigeria. The winners in seven different categories went home with mega millions in cash, space wagon , and also bagged an opportunity to represent at the global edition of the competition.
Indeed, no corporate organization has had the kind of assemblage of entertainment heavyweights as it brand ambassadors as Globacom. All through the years, the cream of the country’s musicians, footballers, actors and comedians have either been signed on as brand ambassadors or featured in the company’s television commercials. The long list includes veterans such as late Osita Osadebe, late Oliver d’Coque, King Sunny Ade, Ebenezar Obey, Nelly Uchendu, Mikel Obi, Victor Moses, Osaze Odemwingie and Emmanuel Emenike. Others are MI Abaga, D’Banj, PSquare, Rita Dominic, Ini Edo, Flavour, Wizkid, Davido, Basketmouth, Gordons, I go Dye, Juliet Ibrahim, Matter Ankomah, Joselyn Dumas, Michael Essien, former World Heavyweight Boxing Champion, Anthony Joshua and track queen, Tobi Amusan
Life-changing Promotions:
One area where Globacom has connected with its subscribers and Nigerians generally is loyalty-reward Promos. Over the years, the company has launched series of promos through which different types of empowerment prizes have been won by Nigerians across the country. From Glo Overload to Glo Allawee, Text4Millions, Made for Life, Recharge to Stardom, 180 cars in 180 days, Glo CAF Award promo, Recharge and Win Big popularly known as My Own Don Beta, Everyday Bonanza, and Joy Unlimited Extravaganza, Nigerians have benefitted massively from Globacom and many have been empowered through the Glo promos.
Between October, 2021, and January, 2022, Globacom held a life-changing promotion called Joy Unlimited Extravaganza. Thousands of Glo subscribers won brand new Kia Rio cars, refrigerators, television sets and generators across the country. Altogether, 500,000 prizes were given out.
Promotion of Nigeria’s Cultural Heritage
Over the years, Glo has partnered with several communities across the country on the sponsorship of major festivals and promotion of culture and traditions. These include Ojude Oba in Ijebu-Ode, Ofala in Onitsha, Lisabi in Abeokuta, Imeori in Abiriba, Oru – Owerri in Imo state, Afia- Orlu In Nnewi and Abia –Ugwa in Isialangwa in Abia State. Through these sponsorships, Glo is giving a new lease of life to the festivals as well as empowering some lucky individuals in the communities through various prizes won at special promotions held during the festivals. The company has not only brought these festivals to international limelight, but has also turned them into major tourist attractions. This association has helped build up Globacom as an enviable brand.”
Glo’s phenomenal impact extends to hosting of comedy shows and encouragement of footballers to further their careers, not only in Nigeria, but across the West African suburb
In 2019, the brand’s sponsored comedy show, Bovi Man on Fire, was held in Warri, Delta State. The show was described by many as a perfect way to celebrate Easter. Not only that, the company delighted its subscribers with free tickets to attend the fun-filled event anchored by ace comedian, Bovi Ugboma. Other humour merchants that graced the show were Kelvin Sapp, Young Chief Odogwu, MC Shakara and Mr. Flexy.
In 2023 alone, Glo launched Glo Green Lotto, a service aimed at enhancing the opportunities for its gaming subscribers to play and win; partnered with PalmPay, to launch a new marketing initiative tagged: “PalmPay Bonanza – Recharge Glo and Win,” which offers Nigerians who buy Glo data and airtime bundles via the PalmPay platform, the chance to win fantastic prizes, and sponsored the African Voices Changemakers.
In 20 impactful years, Glo has become a symbol of glory, and epitomizes growth and development.
The company is gearing up to sponsor once again the Ofala Festival in Anambra State.
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
By Eric Elezuo
With a loud ovation, Nigerians reveled at the announcement of its billionaire-quartet, Aliko Dangote, Mike Adenuga, Femi Otedola, and Abdulsamad Rabiu as among Africa’s richest individuals in 2026.
The four has constantly put Nigeria in the limelight, ensuring that Forbes is never complete without a mention of the giant of Africa, Nigeria
According to the latest Africa Billionaires ranking released by Forbes, Dangote retained his position as Africa’s richest man, with an estimated net worth of $28.5 billion. He added about $4.6 billion to his fortune over the past year, largely driven by the strong performance of Dangote Cement on the Nigerian Exchange Limited.
Telecommunications magnate Adenuga also retained his place among Africa’s billionaires.
The founder of Globacom and chairman of Conoil Producing remains one of Nigeria’s most influential entrepreneurs with diversified interests spanning telecoms, oil and gas, and banking.
Otedola, chairman of Geregu Power Plc, also featured on the list despite a slight dip in his wealth over the past year. Forbes estimates that the billionaire investor lost about $200 million following the sale of a majority stake in the power generation company at a discount to its market price.
The increase in Rabiu’s net worth was largely driven by the performance of BUA Cement, whose shares rose 135% over the past year, outperforming the broader rally on the Nigerian stock market.
The 23 billionaires on the continent are now worth a combined $126.7 billion, representing a 21% increase from 2025 after they collectively added $20.3 billion to their net worth.
Across the continent, billionaire fortunes were boosted by strong equity market performance, record corporate profits, and improving currency stability in several African economies.
South Africa remains the highest number of billionaires on the list, with seven individuals, followed by Egypt with five, Nigeria with four, and Morocco with three.
Here is a peep into the world of Nigeria’s Billionaire-Quartet.
ALIKO DANGOTE
For the President of the Dangote Group, Alhaji Aliko Dangote, and his multifaceted group, playing second fiddle has never been an option. Both the enterprise and the entrepreneur have maintained market leadership to the extent that Dangote himself has appropriated the richest man in Africa status to himself, and has hardworkingly sustained the tag for as long as anyone can remember.
Since 2014, when Forbes magazine named him the world’s 23rd billionaire, jumping 20 spots on the scale from his previous 43rd position among the elite club of the world’s richest people. Aliko Dangote has not looked back, winning back to back the accolade among African billionaires, and never slipping from the world ranking.
Again, as expected, the famous Forbes has proclaimed the soft spoken businessman as Africa’s richest man for the 12th time in a row; a proof that the name Dangote is synonymous with consistency. He is a businessman, who understands that no man rest on his oars if turnovers have to continue to turn over. With marked differentiation, he has demystified the business terrain, and proved that if it can be done, then it must done. His establishment of the humongous fertilizer and sugar plants and the ambitious refinery in Lekki, Lagos, Nigeria, are testimonies of the trajectory of one who knows his onions.
Worth $13.4 by the last Forbes ranking, which sustained him as the richest man in African for the 11th time, entrepreneur extraordinaire has the following points to his name:
- Aliko Dangote, Africa’s richest person, founded and chairs Dangote Cement, the continent’s largest cement producer.
- He owns 85% of publicly-traded Dangote Cement through a holding company.
- Dangote Cement has the capacity to produce 48.6 million metric tons annually and has operations in 10 countries across Africa.
- After many years in development, Dangote’s fertilizer plant in Nigeria began operations in mid-2021.
- Dangote Refinery, under construction since 2016, hit the public space since 2024, and is one of the world’s largest oil refineries, with a capacity of 650,000 barrels per day production.
The above and many has remained the factors that have made it easy for the billionaire to remain in the top echelon of world’s money men, and the supremo among African businessmen. Little wonder he is one of the few recipients of the GCON national honours reserved for top politicians of vice president ranking and top government appointees.
Born in Kano in 1957, Dangote proudly shuttles between three wonderful tags as the richest man in Nigeria; the richest man in Africa and the richest Black man in the world. He has paid his dues, and mankind is the better for it.
Releasing impacts, Aliko Dangote Foundation (ADF), the private charitable foundation of Alhaji Aliko Dangote. Incorporated in 1994, as Dangote Foundation, is saddled with the mission to enhance opportunities for social change through strategic investments that improve health and wellbeing, promote quality education, and broaden economic empowerment opportunities. 20 years later, the Foundation has become the largest private Foundation in sub-Saharan Africa, with the largest endowment by a single African donor.
The primary focus of ADF is child nutrition, with wraparound interventions centered on health, education and empowerment, and disaster relief. The Foundation also supports stand-alone projects with the potential for significant social impact.
The Foundation works with state and national governments and many highly reputable international and domestic charities, non-governmental organizations and international agencies to advance its humanitarian agenda.
In one of its biggest collaboration to date, Aliko Dangote Foundation started working in partnership with the Bill and Melinda Gates Foundation and key northern State Governments in Nigeria from 2013 to eradicate polio and strengthen routine immunization in Nigeria.
Worthy of praise is the fact that nearly a decade, the Foundation has spent over N7 Billion in the course of feeding, clothing and the general welfare of the Internally Displaced Persons in the Northeast.
To make his host communities feel at ease, and the impact of his presence, Dangote has embarked on an initiative to provide further support to improving educational systems in Ibeju-Lekki and Epe locality. The educational support initiative is a tripartite programme consisting of scholarship, capacity building for teachers and school infrastructure projects.
In addition, Scholarships have been awarded to 52 secondary school students whilst some financial support was provided to their parents and/or guardians. Tertiary students will be included in the next batch of the scheme.
Furthermore, about 100 teachers, principals and school administrators were trained in teaching techniques for the 21st century. After which they were monitored in class on how they were using the skills acquired.
There is hardly any sector that has not felt the milk of human kindness running through Aliko Dangote; the military, media, politicians, governments across boards and more.
Dangote is surely an asset to this world!
As at today, there is no space for slowing down for Dangote as he continues to trudge on, creating firsts after first for himself and for humanity. He is blessed with three wonderful daughters, who have followed the rewarding footprints of entrepreneurship, and is looking forward to hitting the richest man in the world status. And very soon too.
ABDULSAMAD RABIU
Abdulsamad Rabiu’s consistent climb on the ladder of success has become phenomenal. The unassuming Chairman at BUA Group has become a study in entrepreneurial discipline, focus, philanthropy and intentional sacrifice. But what can actually be said of a man who has steadily evolved as one of Africa’s biggest investors, in fact, the biggest in the order of reckoning on the Nigerian Exchange. He has graciously used his BUA Foundation and the phenomenal Abdul Samad Rabiu Africa Initiative to not only affect lives, but ensured that the people of the world, especially his native Nigeria, live in better comfort. The Chairman/Chief Executive Officer, Bua Group, makers of quality cement, sugar, flour among other wonderful household items has been a epitome of enterprise. He is presently by divine and entrepreneurial orchestration one of Nigeria’s richest investor. He is also the third richest man in the Africa, by Forbes calculation behind Nigeria’s Aliko Dangote, South African billionaire, Johann Rupert.
In 2023, via a list compiled by Billionaires in Africa revealed the rankings on the Nigerian Exchange, NGX, showing that Abdulsamad Rabiu, the billionaire businessman and industrialist, overtook Aliko Dangote as the richest investor in the country, albeit temporarily.
According to data tracked by Billionaires.Africa, Rabiu’s holdings in his publicly-listed businesses on the local bourse were valued at an impressive $6.01 billion, making him the only investor with an investment portfolio worth over $6 billion then. This is a feat that can only be achieved through wholesome business acumen and dedication.
Born August 4, 1960, in Kano, to one of Nigeria’s foremost industrialists in the 1970s and 1980s, Khalifah Isyaku Rabiu, Abdul Samad Isyaku Rabiu CON is a perfect combination of many things in one.
It was in his native Kano that he kick-started his academic pursuit, carousing through elementary education with ease as a gifted child, and obtained his First School Leaving Certificate. He was later admitted into the Federal Government College, Kano, where he had his secondary education, and gradually with honours.
With a combination of fate, brilliance and determination, Abdulsamad was catapulted to Capital University in Columbus, Ohio, where he studiously studied Economics, and acquired his tertiary education before returning to Nigeria, all before his 24th birthday, to oversee his family business. He was that much sought after, and highly brilliant, and considered capable of holding fort for his father, who was being detained by the administration of General Muhammadu Buhari over matters concerning import duties.
In 1988, just after learning the ropes of entrepreneurial excellence, Abdul Samad Rabiu established BUA International Limited, for the sole purpose of commodity trading. The company followed after the footsteps of his father, and imported rice, edible oil, flour, iron and steel.
In 1990, having exhibited the character worthy of a world class entrepreneur, and the ability to execute classical projects, Rabiu’s BUA was invited by the government, which owned Delta Steel Company to supply its raw materials in exchange for finished products. This provided a much-needed leverage for the young company, and consequently expanded further into steel, producing billets, importing iron ore, and constructing multiple rolling mills in Nigeria.
Rabiu’s dexterity showed further a few years later, when the company acquired Nigerian Oil Mills Limited, the largest edible oil processing company in Nigeria, and there erupted the company’s and BUA’s influence and care over the people in the provision of affordable edible oil. His passion to see people excel in comfort has continued to make him churn out one great tiding after another, and endearing him in the hearts of the generality of the public.
A man with a vision for tomorrow, Rabiu, in 2005, started two flour-milling plants, in Lagos and in Kano, and by 2008, had broken an eight-year monopoly in the Nigerian sugar industry by commissioning the second-largest sugar refinery in sub-Saharan Africa. This was a feat only a bravest of hearts could wroth. As a result, in 2009, the company went on to acquire a controlling stake in a publicly-listed Cement Company in Northern Nigeria and began to construct a $900 million cement plant in Edo State, completing it in early 2015. Rabiu’s passion for expansion is unequalled.
BUA Group has since concentrated and excelled in manufacturing, infrastructure and agriculture and producing a revenue in excess of $2.5 billion. This is in addition to being the chairman of the Bank of Industry (BOI).
The Group, in 2019, announced plans to merge its privately owned BUA Cement with the publicly traded Cement Company of Northern Nigeria Plc (CCNN), to create Nigeria’s second largest cement producer thereby consolidating the grip on the cement market and breaking its monopolistic status.
MICHAEL ADENUGA
Michael Adenuga Jr. is one entrepreneur, who has proved over the decades that he is not the regular billionaire. He is of the stock that is not regulated by stock market figures, but by liquid cash. And that explains why his wealth and net worth supercedes whatever figures churned out by any institution, or any position he is placed in the billionaires’ list.
Adenuga is, for all intent and purpose, in a world and class of his own. This is because his business trajectory and personal philosophy are uniquely his, and therefore worthy of emulation.
Sitting atop one of the most cherished and subscribed network, Glo, Adenuga has not only inspired lives, but practically lifted not a few to enviable heights.
Known for his diverse investments in oil, gas, telecommunications, banking, construction, and real estate, Mike Adenuga notably shook up the African telecom sector with the launch of his telecommunications network, Globacom Limited (Glo), in August 2003.
Also referred to as The Guru, Adenuga is like the proverbial Iroko tree, who is unlike any other. In terms of humility, pedigree, magnanimity, wealth and portfolio of investments, he is one of a kind.
“As of Jan. 1, 2024, Forbes, the U.S.-based business magazine renowned for tracking global billionaire fortunes, estimated Adenuga’s wealth at $6.1 billion. By Dec. 31, 2024, his net worth had grown to $6.8 billion, ranking him as the 448th richest person in the world. Adenuga’s wealth is anchored in his control of Globacom, Nigeria’s second-largest mobile telecommunications and digital services provider, which boasts over 60 million subscribers,” according to Billionaires.Africa
Adenuga is fondly remembered for launching operations on Per Second Billing, thus ensuring subscribers only pay for actual time spent on a call instead of the practice of billing customers N50 per minute even when the call cuts off at just 2 seconds. It also crashed the cost of SIM card from N30,000 to N6,999 and later N100, thereby making it possible for low income earners, students and artisans to own GSM lines today. It is now one of the most recognizable brands across the continent.
Love him or hate him, you can’t fault him. He is an enigma. A definition of class, humanity, intellectual discipline and entrepreneurial acumen. He is the very epitome of when the going gets tough, the tough gets going. And of course, a reference point and research material when it comes to philanthropy. Dr. Mike Adenuga doesn’t give little or give just for giving sake. He gives to sort and solve a lasting challenge. Yes, he is Dr. Michael Adenuga Jr., ‘The People’s Billionaire,’ and without introduction, the brain behind the increasingly success stories recorded at the Globacom Group, among his many other conglomerates and subsidiaries.
Known by many appellations, such as the Spirit of Africa, a rare gem, walking kindness, moon amongst the stars, owner of wealth beyond money, the mighty oak, the man with the gift of Foresight, the Bull, Pillar of sports among a whole lot more, Adenuga’s image looms large. He appears little, and achieves so much more. Hardly seen, but gracefully and consistently felt.
Born on April 29, 1953 to Oloye Michael Adenuga Sr and Chief (Mrs) Juliana Oyindamola Adenuga, the Yeyeoba of Ijebuland, Otun Gbadebo of Ikija and Iyalaje of Ijebu-Igbo, Dr. Mike Adenuga Jnr was not a silver spoon kid, but his parents were comfortable.
The indigene of Oru, Ijebu-Igbo, Ogun State was born and schooled in Ibadan. He attended the famous Ibadan Grammar School. He had his university education in the United States. He majored in Business administration with emphasis on Marketing.
While in school, to augment the allowance sent by his parents, he worked as a cabbie (Taxi Driver), putting in many hours of work a week. This culture of back-breaking hard work shaped him for his ambitious business adventures later in life.
Dr. Mike Adenuga Jr is married to Mrs. Titi Adenuga (nee Adewale). She provides the comfort and stability that such an incredibly busy man requires. His children are Oyin, Babajide (Bobo), Paddy, Bella, Eniola, Bimbo, Sade and ‘Niyi Jnr. He also has grandchildren.
FEMI OTEDOLA
Billionaire businessman, and Chairman, Geregu Power Plc, simply addressed as Femi Otedola (CON), is a focused and determined man. He made his choice from day one, and has refused to be derailed. This explains his prolific nature in the world of entrepreneurship, which has directed his life.
One thing is very obvious before all and sundry, and that is the fact the dotting father of four adorable children is really an Epicurus son, and has no place for half measures when it comes to giving himself, his business and of course everyone around him the good life.
It won’t be forgotten in a hurry how the philanthropist spent a whopping Three Million Pounds to rent a cruise boat in celebration of his 60th birthday in 2022.
Born on November 4, 1962, in Ibadan to the family of the late Sir Michael Otedola, a former governor of Lagos State, Otedola is a definition of everything good, positive and encouraging. He has lived his 60 years representing the very essence of living, affecting lives as a philanthropist, developing careers and manpower as a businessman, industrialists and entrepreneur, and raising biological children, who has stood their own in the society. There is hardly anywhere this tall, handsome phenomenon of a personality can be faulted.
The billionaire businessman started his education at the University of Lagos Staff School before attending Olivet Baptist High School from where he was admitted into Obafemi Awolowo University in 1980. He graduated in1985.
A former chairman of Forte Oil Plc, the Chancellor of St Augustine University, Epe, Lagos, is the founder of Zenon Petroleum and Gas Ltd, and the owner of a number of other businesses across shipping, real estate and finance. He has recently invested in power generation as part of the liberalisation of the sector in Nigeria.
The author of the bestseller, MAKING IT BIG, who has homes in Lagos, Abuja, Dubai, London and New York City has a much impressive existence since he set out to take the bull by the horns in the field of enterprise. This is as chronicled by wikipedia. In 2003, having identified an opportunity in the fuel retail market, Otedola secured the finance to set up Zenon Petroleum and Gas Ltd, a petroleum products marketing and distribution company.
As owner and chairman of Zenon, in 2004 he invested N15 billion in downstream infrastructure development and acquired storage depots at Ibafon, Apapa as well as four cargo vessels, amounting to a combined total storage capacity of 147,000 metric tonnes. The same year he acquired a fleet of 100 DAF fuel-tanker trucks for N1.4 billion.
By 2005, Zenon controlled a major share of the Nigerian diesel market, supplying fuel to most of the major manufacturers in the country including Dangote Group, Cadbury, Coca-Cola, Nigerian Breweries, MTN, Unilever, Nestle and Guinness.
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