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Adenuga: 71 Years of Unrivalled Philanthropy and Endless Empowerments

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By Gabriel Oguntola

One of Africa’s richest men and Chairman of Nigeria’s telecommunications Company, Globacom Dr. Michael Adenuga Jr is 71 years old. Happy Birthday to the great philanthropist and entrepreneur par excellence.

The quiet billionaire learnt early from the famous saying of Walt Disney who posited that”The way to get started is to quit talking and begin doing”.

Adenuga from onset has always been reticent.  He does his things quietly and runs his businesses without seeking attention. He transitioned from running family business, after schooling in the United States to starting his businesses and moving into the top league in Nigeria without noise.

He became a billionaire in his thirties to the consternation and surprise of Nigerians. Such is the style of the man that has come to be known for his smartness and ingenuity. He is always one step ahead, hence his success across all sectors of the economy.

Today, he plays in all the vital sectors of the nation’s economy. From Banking to Telecoms, Oil and Gas as well others that are not known to the public. He employed thousands of Nigerians, and he empowers many others through endless philanthropy.

We cannot count the number of Nigerians that has benefitted from Adenuga’s generosity. They are always done quietly, and most times beneficiaries are warned not talk about it.

Few years ago, he donated 500million to Baylesa State after the state was ravaged by flood, he donated N1.5 billion during Covid pandemic to Federal Government, 1 million dollars was also donated to Super Eagles after winning nations Cup in south Africa to mention a few.

By the age of 50, he founded Globacom while his other companies were founded between early thirties and 40. He became a billionaire at 35 and by his 51st birthday Dr. Adenuga was already sitting atop what is generally regarded as one of the continent’s largest business empires.

In each of these sectors, Dr. Adenuga has moulded his companies into major players. In the oil and gas sector, for instance, Conoil Producing, the upstream arm of the conglomerate, made history by becoming the first Nigerian company to strike oil and produce it in commercial quantity. Same was the case when he had two banks, Equatorial Trust Bank and Devcom Merchant Bank that were among top ones in the country.

In telecoms, Globacom remains the most innovative network in Nigeria, with many firsts since it rolled out services in 2003. His investment in real estate is said to be worth over billions of dollars. These companies provide direct employment to thousands of Nigerians and other nationalities.

His contribution to the business across the world and endless philanthropy has been recognized in different countries including Nigeria, where he holds the highest civilian honour of Grand Commander of the Order of the Niger (GCON) and in Ghana, he was awarded the highest civilian honour of Companion of the Star of Ghana (CSG).

French President, Emmanuel Macron also honoured him with the highest National honour of France, ‘Chavalier de la Legion d Honnuer”. Macron commended Adenuga for his promotion of the French culture in Nigeria where he single-handledly rebuilt the Allance Francaise, Lagos located at the Mike Adenuga Centre Ikoyi.

City People magazine, Nigeria’s King of soft –sell in 2022 captured Dr Adenuga lifestyle thus:

He works round the clock. He is always thinking of the next possible business deal. He is always looking for the next deal to close. He was one of the businessmen who saw the role Data was going to play in our lives and went for a Telecoms license earlier.  Today, the rest is history. He is now the Grandmaster of Data.

Mike Adenuga is one of the Bigger Boys in the world of business. He knows the Game. He plays the game. He is adept at it. He knows the principle of winning. He has set his own rules. He has his own winning formula, which has worked for him over the last 40 years. Though he is from Ijebu Igbo, he was born and bred in Ibadan. He will always tell all who cares to listen that he is an Ibadan Boy. He is a product of Ibadan Grammar School. He has a breathtaking house in Ibadan. That is where he often stays when he needs to relax or unwind. Many often wonder whether he relaxes or not. Yes. He does.

City People can authoritatively reveal that though Mike Adenuga is a great Philanthropist and one of the biggest spenders when it comes to helping other people, he does not like the recipients of his largesse to tell the world whatever kind of help he has rendered. Once he touches your life, you are made forever. But the Golden rule for you to keep getting more support from him is for you to keep mum”.

 

Former President Buhari, few years ago while speaking about Dr. Adenuga on his Birthday said, “Apart from creating jobs through entrepreneurship, Adenuga’s contribution to the development of sports and the entertainment industry had remained remarkable. These sectors of the economy had continued to provide lifelines for many, and inspiring ingenuity and creativity. His exploration and encouragement of youth entrepreneurship in the country would always be remembered, while his penchant for helping the less privileged through scholarships and healthcare financing deserves more commendations”.

Happy 71st Birthday to Dr. Adenuga.

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Presidency Condemns Misrepresentation of Shettima’s Comments

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The Presidency has dismissed claims that Vice President Kashim Shettima’s recent comments were directed at the political situation in Rivers State or President Bola Ahmed Tinubu’s constitutional decisions on the matter.

In a statement on Friday by the Senior Special Assistant to the President on Media and Communications (Office of the Vice President), Stanley Nkwocha, the Presidency described the reports as a “gross misrepresentation.”

The statement clarified that Vice President Shettima’s remarks at the public presentation of a book by former Attorney General of the Federation, Mohammed Bello Adoke (SAN), were misconstrued by some online platforms and individuals.

“These reports have distorted the Vice President’s comments in pursuit of a mischievous agenda,” it stated.

“They twisted his account of how the administration of former President Jonathan considered removing him as Borno Governor during the insurgency to falsely link it with current events in Rivers State.”

The Vice President, who spoke at the launch of OPL 245: The Inside Story of the $1.3 Billion Oil Block in Abuja on Thursday, was said to have referenced the past solely to commend Adoke’s professionalism while in office, and to reflect on Nigeria’s constitutional evolution regarding federal and state relations.

“For the avoidance of doubt, President Tinubu did not remove Governor Fubara from office. The constitutional measure implemented was a suspension, not an outright removal.

“This action was taken in response to the grave political crisis in Rivers State at the time, with the governor facing a looming impeachment and the State Assembly complex under demolition,” Nkwocha clarified.

The Presidency insisted that the action taken by President Tinubu in declaring a state of emergency and suspending the Governor was fully in line with Section 305 of the 1999 Constitution (as amended), which authorises such measures when there is a breakdown of public order requiring extraordinary intervention.

According to the statement, the President’s proclamation invoking Section 305(2) was subsequently ratified by an overwhelming bipartisan majority in the National Assembly, confirming the legitimacy and constitutional propriety of the decision.

“The action of President Tinubu in suspending Mr. Fubara and others from exercising the functions of office averted the governor’s outright removal. To conflate suspension with removal is misleading,” the statement further noted.

Nkwocha also stressed that Vice President Shettima’s comments were delivered extemporaneously and intended to underline the importance of public accountability and historical documentation.

He referenced the Vice President’s mention of past public servants, including Adoke and former Speaker Aminu Waziri Tambuwal, to illustrate principled leadership.

“His remarks were not in any way a criticism of President Tinubu’s actions, which the Vice President and the entire administration fully support and stand by without reservation,” the spokesman stated.

The Vice President, the statement added, remains in “loyal concert” with President Tinubu and is committed to implementing all constitutional measures necessary to safeguard democracy and uphold order across the country.

Concluding, the Presidency called on media organisations and political actors to desist from misrepresenting public remarks for sensational or partisan purposes.

“We urge media organisations and political actors to desist from the destructive practice of wrenching statements from context in order to fabricate nonexistent conflicts,” Nkwocha said.

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Rehabilitation Challenges: Sale of Refineries Remains a Possibility, Says Ojulari

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The Group Chief Executive Officer (CEO) of the Nigerian National Petroleum Company (NNPC) Limited, Bayo Ojulari, has acknowledged growing complexities in the effort to revamp Nigeria’s state-owned refineries.

Although the Port Harcourt refinery began processing crude oil again on November 26, it was later shut down in May for maintenance.

Meanwhile, rehabilitation work is still ongoing at the Warri and Kaduna refineries.

Speaking in an interview with Bloomberg on the sidelines of the 9th OPEC International Seminar in Vienna, Austria, Ojulari said NNPC is in the process of reassessing its refinery strategies, with plans to conclude the review by the end of the year.

“So refineries, we made quite a lot of investment over the last several years and brought in a lot of technologies. We’ve been challenged,” he said.

“Some of those technologies have not worked as we expected so far. But also, as you know, when you’re refining a very old refinery that has been abandoned for some time, what we’re finding is that it’s becoming a little bit more complicated.

“So we’re reviewing all our refinery strategies now. We hope before the end of the year, we’ll be able to conclude that review. That review may lead to us doing things slightly differently.”

When asked whether the review could result in selling the refineries, Ojulari said a sale remains a possibility.

“But what we’re saying is that sale is not out of the question. All the options are on the table, to be frank, but that decision will be based on the outcome of the reviews we’re doing now,” he said.

Ojulari also addressed the cost of oil production in Nigeria, stating that operating expenses range between $20 and $30 per barrel.

“For the cost of crude production, there’s a capital cost and there are the operating costs,” he said.

“The operating cost right now in Nigeria is hovering over $20 per barrel, which is quite high.

“Part of that is because of the investment we’ve had to make in terms of security of our pipelines, which as you know, today we have 100 percent availability of our pipelines. That came out of significant investment.

“So we believe with time, with stability, that cost will start going down, but for now it’s somewhere between $25 and $30 a barrel.”

Looking ahead, Ojulari said NNPC aims to increase Nigeria’s oil output to 1.9 million barrels per day (bpd) by the end of the year.

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Review Your New Visa Rules, Tinubu’s Govt Urges U.S.

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The Federal government has responded to the United States’ recent visa rules that reduce how long Nigerian visitors can stay in the United States and limit them to one entry per visa by calling on Washington to reconsider its new visa policy.

The U.S. Department of State had recently updated its non-immigrant visa policy for several countries, including Nigeria, on Tuesday.

Under the new rule, most non-diplomatic and non-immigrant visas issued to Nigerian citizens will now be valid for only three months and allow just a single entry into the United States.

The changes took effect immediately.In a notice published on its website, the U.S. Embassy and Consulate in Nigeria state: “Those U.S. non-immigrant visas issued prior to July 8, 2025, will retain their status and validity. We wish to underscore, that as is standard globally, visa reciprocity is a continuous process and is subject to review and change at any time, such as increasing or decreasing permitted entries and duration of validity. You can view the latest information on visa reciprocity schedules for all countries at travel.state.gov.

“The Federal government responded to this by describing the new US directive as “misaligned with the principles of reciprocity, equity, and mutual respect” that ought to govern bilateral engagements between friendly nations in a statement released on Wednesday through Kimiebi Imomotimi Ebienfa, the Ministry of Foreign Affairs’ spokesperson.

The Federal government said it views this development with concern and keen interest, particularly given the longstanding cordial relations and strong people-to-people ties between our two countries.

“The attention of the Federal government of Nigeria has been drawn to the recent decision by the United States Government to revise its visa reciprocity schedule for Nigerian citizens, limiting the validity of non-immigrant visas including B1/B2, F and J categories to three months with single entry,” it stated.

“The Federal government views this development with concern and keen interest, particularly given the longstanding cordial relations and strong people-to-people ties between our two countries. The decision appears misaligned with the principles of reciprocity, equity, and mutual respect that should guide bilateral engagements between friendly nations.”

It also claimed that this restriction places a disproportionate burden on Nigerian travellers, students seeking academic opportunities, professionals engaging in legitimate business, families visiting loved ones, and individuals contributing to cultural and educational exchanges.

The government also said it understands that every country has the right to make its own immigration rules, but it hopes the U.S. will “reconsider this decision in the spirit of partnership, cooperation, and shared global responsibilities.”

It also added that diplomatic engagements are ongoing, and the Ministry of Foreign Affairs remains committed to pursuing a resolution that reflects fairness and upholds the values of mutual interest.

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