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Mike Adenuga’s Gift of Foresight

Published

12 months ago

March 24, 2024

Eric

One major asset that has practically stood Dr. Mike Adenuga Jnr apart is his ability to see the big picture ahead before most people do. His ability and readiness to take any risk —as seen in his foray into oil exploration and later, telecommunications— has made his business prowess and foresight.

He always tread where other investors are afraid to try. Before Adenuga’s foray into the telecom ecosystem, other companies who launched ahead of him claimed a per second billing system would not allow return on investment. But the billionaire debuted with it and changed the landscape. This is because Adenuga believes in the power of possibilities.

That Adenuga’s chutzpah gave birth to the audacious 9,800km-long Glo 1 submarine cable project.

Not a few would remember when in October 2010, against all odds, Adenuga singlehandedly brought the submarine cable initiative to bear in Nigeria.

At that time, it was an extremely intricate and expensive investment which broke the monopoly of the only epileptic one in existence owned by NITEL.

It was technology at its highest as it entailed laying submarine cables under the belly of the ocean from Europe to Lagos with landing stations in 14 African countries and further extending connectivity to all major countries in the world with a dedicated extension to the United States of America.

Adenuga, fondly called ‘The Bull’, boasted then that ‘things are no longer going to be the same again’ and indeed, things has never stayed the same ever since as Glo 1 roared to life.

Aside becoming the pivotal in propelling Glo to its enviable position and giving the telecoms giant a head start over competition, many other companies in the ICT, financial industry and other allied sectors rely on Glo 1 to boost their operations.

It’s pertinent to admit that in recent times, Adenuga’s daring move has encouraged few others to plunge into the same venture —including global brands such as Meta and Google— but Glo 1 remains the doyen.

His gift of foresight came to bear recently when Nigeria and some other African countries experienced massive internet outages following damage to international undersea cables supplying the country with connectivity.

The damage affected major undersea cables —owned by about four other companies— near Abidjan in Côte d’Ivoire and led to internet downtime across West and South African countries. Many telecom companies and a number of banks which rely on those affected cables for internet services were badly affected by the outage.

However, Adenuga’s Glo 1 was not affected by the damage as data users, internet service providers and financial institutions which run on Glo 1 have continued to operate normally.

Industry analysts believe the sturdy nature and resilience of Glo 1 International Submarine Cable is the reason the damage did not affect the cable.

Source: http://opr.news/2477ef1e240323en_ng?link=1&client=news

Featured

Fubara Bows to Pressure, Invites Pro-Wike awmakers to Peace Meeting

Published

4 days ago

March 10, 2025

Eric

Rivers State Governor, Sir Siminialayi Fubara has extended an olive branch to lawmakers loyal to his rival, Nyesome Wike.

The governor invited the Amaewhule-led House of Assembly members to a peace meeting, following the Supreme Court’s judgement on the state’s political unrest.

The invitation was made through a letter from Dr. Tammy Danagogo, Secretary to the State Government, to Speaker Martins Amaewhule.

The meeting is scheduled for Monday at 10 am at the Government House in Port Harcourt.

The agenda includes addressing lingering issues, presenting the 2025 state budget, and discussing payment of lawmakers’ allowances.

The letter read: “I hereby write in furtherance of His Excellency’s promise stated in my letter dated 5th March 2025 to notify you that His Excellency has received the Supreme Court Judgment, and has therefore directed me to invite you and your colleagues -the Honourable members of Rivers State House of Assembly, to a meeting to discuss:-

“Provision of a befitting space for the Assembly’s sittings. Payment of all outstanding remuneration or allowances of the Honourable members. Presentation of Budget and sundry matters;

“Any other matter(s), as may be necessary, to chart the way forward in the best interest of the State. Sequel to the above, I hereby humbly invite the Rt. Hon. Speaker, and all the Rivers State House of Assembly members to a meeting with the Governor as follows.”

Featured

Rivers Lawmaker Rejects Fubara’s Invitation for Peace Meeting

Published

4 days ago

March 10, 2025

Eric

A member of the Rivers State House of Assembly, Lolo Isaiah Opuende, has dismissed an invitation from Governor Siminialayi Fubara for a crucial meeting at the Government House, Port Harcourt, on Monday.

In an online video, Opuende stated that it was time for the governor to “dey his dey” (be on his own) while the lawmakers would do the same.

Representing Akuku-Toru Constituency 2, Opuende recalled that when the political crisis began, their principal had warned that a time would come for both sides to go their separate ways.

He also questioned the mode of invitation transmission, arguing that it is not feasible for lawmakers to honor the governor’s request.

“How can you write a letter for the House of Assembly and put it on social media and expect us to come? The governor should write us the proper way,” he insisted.

Featured

Abacha Family Slams Babangida, Says Book a ‘Revisionist Narratives’, Distortion of Facts

Published

4 days ago

March 10, 2025

Eric

The family of the late General Sani Abacha has rebuffed claims made by former Head of State, General Ibrahim Babangida, that the late Abacha was responsible for the annulment of the June 12, 1993, presidential election.

In his recently launched autobiography, A Journey in Service, Babangida expressed regret over the annulment, acknowledging that the Social Democratic Party’s candidate, MKO Abiola, won the election.

Describing the annulment as an “accident of history,” IBB blamed military officers led by Abacha, who was then his Chief of Defence Staff, for the controversial decision, alleging that it was done “without his permission.”

Reacting in a Sunday statement signed by his son, Mohammed Abacha, the late dictator’s family dismissed IBB’s claims, insisting that Abacha was neither the Head of State nor the Commander-in-Chief at the time of the annulment.

The family accused Babangida of attempting to distort historical facts and shift blame.

“The decision to annul the election was made under the administration of General Ibrahim Babangida, who, as the then Head of State, held absolute executive powers and was solely responsible for the actions of his government,” the statement read.

“Any attempt to shift this blame onto General Sani Abacha, who was a very senior military officer within the regime, is a deliberate distortion of historical facts. For years, various actors have attempted to rewrite the history of that critical period in Nigeria’s democratic evolution.”

The Abacha family also urged Nigerians to be cautious of what they termed “revisionist narratives” intended to manipulate public perception for political gain.

“We urge Nigerians to be wary of revisionist narratives that seek to manipulate public perception for personal or political reasons.

“The memory of our late father and leader, General Sani Abacha, must not be tarnished by baseless accusations meant to absolve those who were truly responsible,” the statement continued.

In conclusion, the family slammed Babangida’s autobiography for failing to present an honest account of events, stating, “We regret that A Journey in Service missed the opportunity and failed to make history as a truthful and objective account of past events.

“As one public commentator aptly put it, honesty, sincerity, and integrity are virtues not commonly associated with the author.”

Source: Newspoint