Boss Of The Week
Mike Adenuga Jr. Makes Waves on the Nigeria’s Billionaires’ List
By Eric Elezuo
The drums are not enough to roll out in celebration of the official recognition and elevation of one who has come to be known by many gracious appellations including the Guru, the Bull, the Chairman and Spirit of Africa, Dr. Michael Adenuga Jr. CSG, GCON, in the Nigeria’s billionaires’ status. This is because it appears the eyes of those in charge of placement are beginning to be opened. Without an iota of doubt, the man, who sits atop the Globacom brand, is in the real sense of the word, Nigeria’s and even Africa’s richest man. The reasons are not far-fetched.
In the entire continent of Africa, Dr. Mike Adenuga is 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. If by a stroke of luck, the cash and material gifts he gave out to people this foreclosed season is counted, there’s every tendency that it will surpass the total account balance of a reputable billionaire. That’s how rich Mike Adenuga is!
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. Today, he has been allocated a net worth of $7.4 billion. That, in any case, does not tell the story of his riches and philosophy.
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 signs his name as MA Jnr, and sure to hit 71 on April 29, 2024 has dared to thread where others dread, and has impacted the African continent with his entrepreneurial and philanthropic spirit.
His passion for giving is not only personal, as the culture has also been imbibed by his companies like Globacom.
In previous years, the company had 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. Of course, one cannot talk about the revolution of telecommunications industry in Africa without dedicating reasonable number of crisp, glossy pages to Adenuga and Glo. The reason is 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..
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.
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.”
Dr. Adenuga is many things and more, and today, we raise a toast to Africa’s most liquid-based billionaire, Dr. Mike Adenuga Jr. CSG, GCON.
The Wikipedia captured her trajectory as follows:
In October 2009, she was elected Ghana’s representative to the executive board of the United Nations Educational, Scientific and Cultural Organisation (UNESCO).
Ahead of the 2012 general elections, Jane Opoku Agyemang moderated the debate with Kojo Oppong Nkrumah.
On 26 October 2018, she became Chancellor of the Women’s University in Africa located in Zimbabwe.
She has served on many local and international boards and committees such as the Centre for Democratic Governance, (CDD-Ghana), the editorial board of the Harriet Tubman Series on the African Diaspora (Africa World Press Inc. USA), the Africa Initiative in Canada, and the College of Physicians and Surgeons as an Eminent Citizen.
Opoku-Agyemang is an author. Her focus areas includes Literature with a focus on Women from Ghana, Oral literature in Ghana and Africa, Communication Skills and Issues in the African Diaspora. As an academic she has written and published in scholarly journals and presented articles at various conferences including at the 200th Anniversary of the Abolition of Slavery at the United Nations Headquarters in New York City and at the Inaugural Lecture to the Ghana Academy of Arts and Sciences.
In 2015, as Education Minister, she published and launched a five volumes collection of published folktales titled ‘Who told the most incredible story?”’
A key focus area during her tenure was empowering girls and advocating for gender equity in education. Her leadership drove the implementation of policies that tackled gender disparities, promoted higher female enrolment and retention rates, and empowered girls through education. Her initiatives played a pivotal role in creating more inclusive opportunities for young women across Ghana.
Additionally, she led the conversion of 10 polytechnics across the regions into technical universities, a bold initiative that elevated the status of these institutions, broadening their academic scope and enhancing vocational education. This reform was instrumental in aligning Ghana’s educational framework with global trends, equipping students with practical skills for a competitive job market.
During her tenure, Opoku-Agyemang initiated the construction of 124 Community Day Senior High Schools, known as “E-Blocks,” to improve access to secondary education in underserved areas. By the end of her term, 50 schools were completed and operational, providing modern facilities such as science laboratories, libraries, and ICT centres. This initiative significantly expanded educational opportunities, particularly in rural and peri-urban communities, and underscored her commitment to addressing disparities in access to quality education.
Opoku-Agyemang oversaw the completion of key infrastructure at the University of Health and Allied Sciences (UHAS) in Ho, including the School of Basic and Biomedical Sciences, a hostel block, and staff accommodation at its Sokode campus. The university was inaugurated by President John Dramani Mahama in November 2015, underscoring the government’s commitment to expanding access to quality higher education and supporting the training of health professionals to address national healthcare needs.
She also played a critical role in establishing the University of Environment and Sustainable Development (UESD) in the Eastern Region. She facilitated the passage of the enabling Bill in Parliament and secured funding for the university. In December 2016, President John Mahama officially cut the sod for the construction of the UESD’s Somanya campus.
Vice presidential campaign
Opoku-Agyemang was selected as the presidential running mate for the National Democratic Congress (NDC) on 6 July 2020 for Ghana’s December 2020 General elections. She became the first female running mate of the two major political parties in Ghana. Her selection by the flagbearer, John Dramani Mahama of the National Democratic Congress was applauded by women groups and women activists as a positive sign to the Ghanaian political scene to promote gender balance and equality.
She appealed to Ghanaians to vote for change and promised to use her office as vice president to influence sustainable development and practical youth-centred policies. Her campaign message was devoid of attacks on opponents. Her intensive campaign in the coastal communities and her home region, the Central Region yielded results as the NDC won most of the constituencies they had lost in 2016. The NDC also won 9 out of the 16 regions in Ghana including the major battleground, Greater Accra.
The NDC National Executive Committee, on 7 March 2024, officially endorsed Opoku-Agyemang again as the running mate for the party’s flagbearer, ahead of the 2024 general elections.
Opoku-Agyemang became the vice president–elect after Mahama won the 2024 presidential election.
On 7 January 2025, Opoku-Agyemang was sworn in as the Vice President of Ghana, becoming the first female to hold the office. The ceremony took place at Independence Square in Accra, where she took the Oath of Allegiance and the Vice President’s Oath before Chief Justice Gertrude Torkornoo. Her appointment marked a significant moment in Ghana’s political history, as she became the first woman to assume the role of Vice President in the country’s history.
Opoku-Agyemang has been honoured with honorary degrees from the University of the West Indies and Winston-Salem University. She has also received an award for Global leadership from the University of South Florida in Tampa. She received the Officer of the Order of the Volta award for Academic Distinction in 2011 by President John Atta Mills and Ghana Women of Excellence Award in the Education category due her contribution to the development and promotion of quality education in Ghana. She was acknowledged for Outstanding Performance in Advancing International Education, School for International Training, Vermont, USA on two occasions.
In 2020, she was named among the 40 Most Inspirational Female Leaders in Ghana for serving as a role model for women in Ghana and in Africa. In January 2023, she was listed among the 100 most reputable Africans.
It is believed that her antecedents and wholesale performances in all the offices she had previously held, will come to bear as she studiously assists Mahama to reignite the 24hour economy he is known for.
By Eric Elezuo
The academic environment, or to be more specific, the ivory tower, thrives on quality, capacity, intelligence and ability to think out of the box. It is further complicated when to become a vice Chancellor, one has to be above board, be the ultimate cetris paribus and have the never-say-never attitude to get things done.
These are the qualities, and more that propelled 41-year-old Professor of International Law, at the University of Abuja, Professor Aisha Sani Maikudi, to the height of administration head of the institution as the Vice Chancellor.
Just into her fourth decade as a human being, Aisha has come of age, smashing the proverbial glass ceiling, and hitting stardom where it was least expected. She is the real slay queen, endowed with beauty, brains and absolute intelligence.
A profile of her personality published on the university site, noted that for her to assume the incumbency of the University administration, Aisha has arrived, seen and conquered, creating room of encouragement, inspiration and desire among the young ones, especially the female folks, who look up to her. She is an enigma.
The profile reads as follows:
Professor Aisha Sani Maikudi, a distinguished scholar and professor of International Law at the University of Abuja is from Katsina State, Nigeria. She began her educational journey at Sacred Heart School, Kaduna, where she obtained her First School Leaving Certificate (FSLC) in 1993. She proceeded to Queens College, Yaba, Lagos, earning her West African Senior School Certificate Examination (WASSCE) in 1999, her LLB degree from the University of Reading, UK, the LLM from the London School of Economics, UK, BL from the Nigeria Law School, Abuja and Ph.D from the University of Abuja, Nigeria.
Maikudi’s academic excellence took her to the University of Reading, where she earned an LLB in 2004. She further specialised in Public International Law, obtaining an LLM from the London School of Economics and Political Science in 2005. After completing her legal education at the Nigerian Law School (2006–2007). In 2007, Professor Aisha Sani Maikudi did her National Youth Service Corps at the Corporate Secretariat and Legal Division of the Nigerian National Petroleum Corporation. She pursued and had a PhD in International Law from the University of Abuja in 2015.
She joined the University of Abuja as a Lecturer II on 4th September 2008, and rose through the ranks to become a professor in 2021.
Professor Aisha Sani Maikudi broke barriers as the first female and youngest Head of Department in 2013, the first female Deputy Dean of the Faculty of Law in 2018, and the pioneer Director of the University of Abuja International Centre in 2019. She also served as the Deputy Vice-Chancellor (Academic), where she was instrumental in enhancing academic standards and promoting a culture of excellence at the University.
To date, she is the youngest Professor of the University of Abuja and indeed Nigeria, as well as the first female Professor of Law in the North West and the University of Abuja. She specializes in United Nations Law, backed by extensive research and numerous publications in academic journals and book chapters. Professor Aisha Sani Maikudi floated a Postgraduate course on United Nations Law and has supervised numerous undergraduate and postgraduate theses and dissertations, contributing to the growth of legal scholarship. She has also taught Company Law for over 12 years and is well versed in its mechanics.
Professor Aisha Sani Maikudi has represented her university and country at numerous national and international conferences, workshops, and training sessions across the UK, US, South Africa, Germany, Italy, China, Ghana, and Egypt. She has presented papers at many of these events, further solidifying her global reputation as an academic leader.
She is an active member of several professional organisations, including the Nigerian Bar Association (NBA), Nigerian Law Teachers Association (NLTA), International Federation of Women Lawyers (FIDA), and Nigerian Society of International Law.
Aisha is married with children.
By Eric Elezuo
The constantly improved city of Osogbo was agog weekend when the Secretary to the Government of the Osun State, Igbalaye Teslim Adekunle, was installed as the Bobagunwa of Osogboland, replacing his late father, Alhaji Abdulrasheed Igbalaye, who was the pioneer Bobagunwa of Osogbo.
The installation of Teslim Adekunle mark the continuation of visionary leadership, a legacy built on profound patriotism and a relentless commitment to the progress of people of Osogbo in particular, and Osun State in general.
The occasion, a combination of pomp, grace, culture and class, drew together the who is who in Osun, West and national politics to the land that bustles with melodious springs.
This venue was the royal palace of Ataoja of Osogbo, His Royal Majesty, Oba Jimoh Oyetunji (Larooye II), who presided over the ceremony, and had the singular honour of conferring the prestigious feather on the new Bobagunwa.
As early as the first light of the d-day, guests from all corners and walks of life, some, who had arrived the day before, began trooping into the colorful premises of the palace with giant billboards showcasing the about to be installed Bobagunwa and the royal father.
From afar as well as near, dignitaries including traditional rulers, government officials, captains of industries, entertainment buffs, students organisations, community groups, youths and the general public, all converge to witness the glory of a man many believe is a force to reckon with, in both community relations and political administration.
Among notable names present were the Osun state Governor, Senator Nurudeen Ademola Adeleke; the Deputy Governor, Prince Kola Adewusi; former governor of the state, Prince Olagunsoye Oyinola; former Osun state Deputy Governor, Mrs. Titi Laoye-Tomori and her husband; Oba Abolarin Adedokun, Speaker, Osun State House of Assembly, Rt. Hon. Adewole Egbedun; Deputy Speaker, Rt. Hon. Akinyode Abidemi Oyewusi; Chief of Staff to the Governor, Alhaji Kazeem Akinleye, Senator representing Osun West Senatorial District, Sen. Lere Oyewunmi, Senator representing Osun Central, Sen. Olubiyi Fadeyi-Ajagunla, State PDP Chairman, Hon. Sunday Bisi, Former Chief of Air Marshal, Air Marshal Oladayo Amao; Araba Ifayemi Elebuibon, Mr. Oye Balogun the Secretary to the Kogi State Government, Dr. Folashade Arike Ayoade, the Timi of Ede Land, Oba Munirudeen Lawal, Hon. Adewale Morufu Adebayo, and a host of other eminent personalities.
Glad in prestigious all red traditional babariga attire, Igbalaye arrived the venue, in company of his wife, children and aides to a rousing welcome of acceptance. The team could not help but respond to the melodious sounds emanating the drums of the itinerant drummers, with corresponding dance steps.
It was not long before the Ataoja, in full view of the guests, including Governor Adeleke, performed the rites of installation, and pronounced Igbalaye, the new Bobagunwa of Osogboland to a loud applause that ricochetted across the length and breadth of Osogboland. He enjoined the new Bobagunwa to uphold tradition and its institutions, and never betray that trust of his people. He harped on the sanctity of the title, and advised the bearer to remain a beacon that he has always been.
In his response as the Bobagunwa, Teslim Adekunle, promised to extend the legacy of truthfulness, honesty, leadership and hard work as handed down by the previous Bobagunwa.
With happiness visibly showing on his face, the Bobagunwa conducted himself round the venue, exchanging pleasantries, in apparent performance of his first official duty as the stool occupier.
In his brief remarks, Governor Adeleke, known for his jovial disposition and dancing prowess, congratulated the new Bobagunwa, and task him to bring unity to not only Osogboland, but the entire Osun State and Nigeria at large. He also thanked the Ataoja for the honour his SSG, noting that the royal father has been a supporter of the administration towards delivering good governance.
The stage was practically set for music, dance and good food, and every attendee had his very full. King Sunny Ade was on hand to make that guest enjoined the best of dancing and music
According to tradition, the title of Bobagunwa is conferred upon deserving sons of the land, and carries immense prestige, aa well as comes with responsibilities.
It is those, like Teslim Adekunle, who have played a significant role in the growth and development of the city in the past, and are committed to the future development of the state in culture and tradition, infrastructure and general growth, are eligible for the honour.
Bobagunwa, a Yoruba language word, which means “to reign with the king” is a clear testament that Teslim Adekunle is qualified to be a confidant of the reigning king. And by implication, demands express commitment and dedication to the king of Osogbo, who is the Ataoja.
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