Boss Picks

I Forgave Ibrahim Babangida a Long Time Ago – Dele Momodu

Published

11 months ago

February 22, 2025

Eric

By Eric Elezuo

On February 20, 2025, former Military President Ibrahim Badamasi Babangida, presented his much awaited autobiography, My Journey in Service, to the public.

Among other things, Babangida acknowledged that the much talked about June 12, 1993 election was actually won by Chief MKO Abiola, noting that his hands were tied forces beyond his control, prompting his annulment of the election, and suspension of the announcement of the results.

The former Head of State, who held sway between 1987 and 1993, consequently asked for forgiveness from Nigerians and all stakeholders.

Conseqently, celebrated journalist and Chairman, Ovation Media Group, Chief Dele Momodu, who is a prodigy of Abiola, and an active participant in the June 12 project, opens up in the aftermath as he speaks with TVC’s Nifemi Oguntoye in a no holds interview.

Below are the juicy details…

This is Beyond 100 Days with Nifemi Oguntoye.

Former Military Head of State, Ibrahim Babangida, says he regrets the annulment of the June 12, 1993, presidential election, describing it as the most difficult period of his life. The former Head of State said this at the official launch of his memoir; A Journey in Service, in Abuja. He described the election as undoubtedly credible, free, and fair, but the tragic irony of history remains that his administration, which devised a near-perfect electoral system and conducted a near-perfect election, could not complete the process.

The book, which offers insights into key moments in the country’s history, also addresses other national controversies, including the 1976 coup attempt that led to the assassination of then Head of State, Murtala Mohammed, and the 1986 letter bomb that killed investigative journalist Dele Giwa. Reflecting on his decision to annul the June 12 election, retired General Babangida admitted that if given another chance, he would have handled the situation quite differently.

Let’s bring in someone who was at the centre of it all, and who was actively involved in the June 12 struggle in 1993.

My guest resigned to join the Moshood Abiola presidential campaign organization. He was arrested and detained at Alagbon, in Lagos, after the annulment of the presidential election by General Ibrahim Babangida. Journalist and publisher of Ovation International, Dele Momodu. Thank you so much for joining us on the program.

Dele Momodu: Thank you so much for inviting me.

Glad to have you. Let’s begin with what seemed a very fascinating scene at the book launch. We saw former adversaries putting their past behind them and coming together in the spirit of camaraderie. General Gowon’s government was overthrown by a coup that involved General IBB, and Moshood Abiola himself… President Buhari was also represented, having had his government overthrown by IBB. What do you make of that spectacle?

Dele Momodu: Unfortunately, I couldn’t make it, though I was invited. I tried everything. I left London yesterday through Ghana, but this morning, I couldn’t connect my flight to Lagos. My flight from Lagos to Abuja was also not possible because of certain delays. I would have wished to be there. I planned everything. My team was on the ground, and I only watched a bit of it because my flight came very late into Lagos. I saw who is who in Nigeria. Babangida has always been the chairman. He’s always been one of the most controversial, but very cosmopolitan leader at the same time. It’s always been a paradox, and that’s why he was nicknamed the “Evil Genius.” I mean, you can imagine, in his 80s, how he was able to pull all that crowd today. He did his bit as president, and we were quite fascinated by his actions and sometimes inactions. But unfortunately, the June 12 incident killed that legacy. I’m sure the subject of the book is to try and see if there is a way he can explain himself to Nigerians and to friends of Nigerians globally, to make sure that legacy is not totally eroded. Because he did… I mean, he had one of the best teams. If you are looking at a star-studded cabinet, you can see the way he was reeling out names of people who worked with him, who collaborated with him, and everything. But what I’m dying to read is to see what happened exactly. Why was June 12 the best election? Everybody says, “Oh, he annulled it.” No, we knew from day one, no one ever contested it. So, I cannot wait to read about what happened, and I hope the book will provide answers to that.

Let’s begin with some excerpts because the former vice president reviewed the book, and we were able to get some. Although I’m on record to have stated that after the election, Abiola may not have won the June 12 elections, upon reflection and a closer examination of all available facts, particularly the detailed election results, which are published as an appendix to this book, there was no doubt MKO Abiola won the June 12 election. He goes ahead to say, “Looking back now, the June 12 saga was undeniably the most challenging moment of my life and, in certain respects, one of the most painful. If I had to do it all over again, I would do it differently.” How do you perceive this acknowledgment of MKO’s victory? And the big question is also, why did it take him 32 years after he left office? Why now?

Dele Momodu: Well, we’ve tried in the past to seek answers to those questions. The impression we got was that the military can be very stubborn. When they take actions, they come out full-chested—“I did it.” Maybe that’s why, in every interview he granted, he never answered those questions specifically. As an insider, I knew that the election took place because certain people… People often forget that Babangida could not have acted alone. Even from the way he reeled out the names today, he was a people’s man who consulted widely before taking decisions. I’m sure there were some people, we called them “principalities” at that time, who convinced him that no, no, Abiola cannot be our president. It happens till today—some people decide, we call them “owners of Nigeria,” and they would have decided that, “Oh no, Abiola cannot be our president.” There were people, of course, for selfish interests. He had mentioned before that his guys were going to kill both himself and Abiola if he handed over to Abiola.
So, I believe that the moment they made up their mind collectively that they were not going to hand over to Abiola, it became difficult for Babangida alone to bear the fall guy. But I think today, he inches closer to accepting that look, “I fumbled. I shouldn’t have done it that way.” Which is okay. Some of us will accept that. Even Abiola himself, I can tell you, wanted their friendship to continue because they had a blossoming friendship at that time. But unfortunately, I don’t know why it was so difficult for them to reverse. They had at least a few days and weeks to reverse that decision, and Nigerians would have applauded and given them a standing ovation. But they missed that chance.

Even in acknowledging MKO’s victory in his speech today, Babangida did say, “We acted in supreme national interest,” and I’m sure that’s what many people want to find out. He went ahead to also say that he has paid a huge part of his debt. Do you think this will, in a way, refine his legacy, following the big perception after the annulment?

Dele Momodu: Well, I would have to read the book to know precisely what he’s talking about, but as I said, you must respect his decision—that is his personal decision. I’m happy that he’s living with it and taking full responsibility for that action, which threw Nigeria into total chaos. In fact, I don’t think we have recovered from that action till today. On June 12, Nigerians united for once to vote for one man without considering religion or ethnicity, and we missed that opportunity. Today, we are fighting on the accounts of religion, ethnicity, and all sorts of divides. That Abiola election would have sealed it finally—that we are one Nigeria. Wherever we meet, I just came back today… Everywhere I’ve been, people pay my bills at restaurants. Whether they are Yoruba, Igbo, Hausa, they do, but when it comes to politics, Nigerian politicians just love to use divide-and-rule tactics to win elections.

That’s when everybody will be talking about this one being a Muslim, that one being a Christian, but we are all Nigerians, first and foremost. Abiola was a true Nigerian, an original Nigerian, welcomed everywhere in Nigeria and the world. It’s difficult to find such a man in this generation; they don’t manufacture such people every day in heaven.

Interestingly, IBB also took some part of the glory because we make reference to the 1993 election as free, fair, and credible, and he says that he led an administration that devised a near-perfect electoral system and conducted a near-perfect election but could not complete the process.

Dele Momodu: Yes, but he became imperfect. Yes, but he became imperfect with that annulment. Immediately that happened, that killed it. You know, it’s like you give birth to your own baby, a very beautiful bouncing baby, and suddenly you just decide to snuff the life out of the baby. That’s what happened on June 12, and that’s why we are still talking about it. Look at how many years, how many decades it has taken us to get this far. And I’m telling you, even with this book, I’m sure there will still be many controversies.

Absolutely. We have some insights already, the fact that he’s expressed satisfaction with former President Buhari’s decision to honor M.K.O. Abiola posthumously and recognize June 12 as Nigeria’s Democracy Day. What’s your take on that development, and how does it rub off on his legacy?

Dele Momodu: Well, I mean, what he couldn’t do, I believe President Muhammadu Buhari did it. We all thanked him at that time, though we felt it was belated, and also, we felt that he was playing to the gallery, that he used it for political reasons. You know, in Nigeria, when the witch cries today, and the child dies tomorrow, everybody knows what happened. So, we’re not too sure that Buhari was a great fan of Abiola, but at least he played that game, and he played it very well.

So, you had your own share of General Ibrahim Babangida, following the annulment of that election. Walk us through what happened, and then watching him years after, do you feel a sense of perhaps being absolved now that he has acknowledged it? And have you truly forgiven him?

Dele Momodu: Oh, I forgave him long ago. I’m a Christian, and the Holy Book says you must forgive your enemies, your traducers, seventy times seven times. So, I followed that injunction in the Bible. I can get angry with people, and almost immediately, you see me playing with them. A lot of people have attacked me, saying, “Why do you romance your enemies, or the enemies of Abiola?” But as a disciple of Abiola, I knew that Abiola forgave people easily. Abiola was not a vindictive person, and that’s what made him who he was. That’s why he could achieve what he achieved. I follow in his trajectory very religiously.

You know, for me, it’s interesting. I was in Abiola’s house, this must have been the end of July 1993. He asked me to come for some documents, and I got there around 2 p.m., but I didn’t get to see him until 4 a.m. The whole house was empty. By the time he came, he was in a very private meeting. Then he came in and said, “Dele, I’m very sorry I’ve kept you waiting.” That night, my friend, Mayor Akinpelu was having his bachelor’s eve, so I missed it. That’s at Lacapine Tropicana at somewhere in Adeniyi Jones.

Chief gave me the documents, which I was supposed to take to Tell magazine, to Mr. Kolawole Ilori. You know, he was living somewhere around Akowonjo. So, I left, not knowing what I was carrying. I mean, when you trust someone, you just take whatever they give you. But apparently, those were very hot documents. So I drove to Mayor’s bachelor’s eve, got there, and they were just finishing the event, but I wasn’t in the mood because I had been sitting down all night waiting for Chief. I decided to go to Water Parks, where Shina Peters was playing. When I got there, Shina was just finishing. I then left and went to Night Shift, to go see Gov Ken Olumese. He sat me down, we had sandwiches and coffee. I didn’t know I was being trailed by security people.

Eventually, I went to Mr. Kola Ilori’s place, delivered what I needed to deliver, then went to my house in Ojodu, somewhere in Adigboduja, where I was staying at the time. A few minutes after I entered bed, my wife rushed into the bedroom, saying, “Some people are banging on the door.” I asked, “Who’s banging on my door?” She didn’t know. As the only man in the house, I came out and asked, “Please, who are you?” They said, “We’re from police headquarters.”
“What have I done?”
“You have to open your door, otherwise, we’ll break it down.” To cut a long story short, that was how I was taken away to Moloni at that time. They came back later to search my apartment and picked up some documents. They said they were seditious, whatever. I was in Alagbon detention camp for over a week before they took me to a magistrate court.

But what you must also note is that Babangida, despite everything, people could still negotiate with him, unlike Abacha, who came later, and we all had to run for our lives. They were trying to persuade me to leave Abiola alone. Anyone who knows me knows that I’m a one-way person. If I follow you, I follow you to the end. So for me, I forgave him. We’ve met a couple of times. I’m friends with his family. His wife, Maryam, always liked me because of the exclusive stories I did about the family when they were in Dodan Barracks. When they were going to have their last baby in Dodan Barracks, I wrote the exclusives about how she was exercising and everything. Aisha, their daughter, is my very good friend. We chat from time to time.
I always advise, look, all Baba has to do is apologize. Nigerians are not too difficult when it comes to certain things. They just want you to come upfront with them. Which is what I believe he’s trying to do today.

Absolutely. We will get back to IBB shortly. You’ve attempted to run for the presidency twice now. Some say those of you who were active during the June 12 struggle have a sense of entitlement legitimacy to lead this country. How do you react to that?

Dele Momodu: No, in my own case, no. I always say that I was badly influenced by the emergence of Barack Obama. We had always complained, all of us complained and lamented, like the biblical Jeremiah, but we did nothing about it. I thought, if Nigeria is ugly, and you have your own beautiful daughter at home, why don’t you present your own daughter? That’s what led me to it. I didn’t want my children to ask me in the future, “You were busy grumbling and writing a weekly column, Pendulum, but you did nothing.” I thought, if I think I’m better, why not try? Obama was a young man, younger than me, when he came out. He was in his early 40s. I had just turned 50 when I decided. It had nothing to do with June 12. I believed in myself, and I still believe in myself, that I can lead a good country with discipline, focus, tenacity, courage, and, especially, if you can relate to everybody. If you’ve studied my life, you’ll see that I did not just follow Abiola. I took a lot from him, especially in terms of networking.

Watching that book launch today, you see a whole generation of leaders. Give it to them. The former vice president was saying that in IBB’s class, there were two presidents, four governors. I mean, it was first class. But it also brings to mind the question of succession. Do you think that’s a question Nigeria has answered? Because you look at all of them – OBJ, IBB, even the current president – they all belong to the older age. Do you think there’s a vibrant younger generation ready to take the baton?

Dele Momodu: No, but they were all young when they were in power.

But they are still perhaps calling the shots today.

Dele Momodu: That’s true. Even in America, you see that George Bush, Bill Clinton, Jimmy Carter before he died, all of them called the shots. That’s why they are called the presidential class. They are extraordinary human beings. They are not your regular. To be the president of the biggest black nation on earth is not a joke. For all of them to call the shots, they will always do so.

Because even today, I was watching President Tinubu; we joined forces to fight IBB and to fight Abacha at that time. But today, you will not see him address IBB the way we were addressing them in those days. So, that’s the way life is, you know. And as you mature with age, if you had invited me, let’s say, 25 years ago, I’m sure I’d be Spitting Fire and abusing, and as you get older, you just have to know “when you get old, you have to act old”, you know. So, we mature people, and we want peace in our country.

Even when I disagree with you, I still want peace because I know that the children of the elite, what I call the privilegentials, their children will never be seen on the street fighting. It’s always the poor people who will get hit by bullets. And for me, I have a conscience. I will not send other people’s children to die for me because of power.

Absolutely. Yeah, I’m wondering what your thoughts are as to how you think Nigerians should react or respond to IBB’s admission and the best way to move forward from this very historic acknowledgment. How do you think the reaction should be? How do we move forward from this historic acknowledgment?

Dele Momodu: Oh, I think Nigerians already moved forward. I mean, you accept what you cannot change. We accepted it, we didn’t like it, we didn’t forget it, and we’re not likely to forget it. But the principal actor coming out to say, “Hey, I was wrong,” that’s good enough.

Do you think it has added anything substantially to Abiola’s legacy, or is it just a symbol?

Dele Momodu: No, no, no, Abiola’s legacy would always be intact on June 12th. God decided to purify Abiola and to cleanse him of all his sins, because none of us— we’re all sinners— none of us is perfect. But Abiola became a saint. The deification of Abiola happened on that day, and God gave him that chance. It doesn’t happen to everyone; it’s not everyone that will have that chance while on Earth to become a saint and a martyr. That is something very, very special.

Absolutely. It’s now 2025. You know, 1993, you were active in the struggle. Are you seeing signs of progress democratically in Nigeria, or what are those challenges you think have remained, you know, from 1993 till now?

Dele Momodu: There are things I would not want to say because of where I am, but I’m worried about our democracy. Very, very worried. And the reason is simple: democracy should give all of us freedom to run and act sensibly. But in a situation where it is “Winner Takes All,” and it is absolute power, and in a civilian regime, you begin to see traces and symptoms of dictatorship. It worries me, and that’s why I’ve always appealed, especially to my big brother, the current president, that look, you can fail in everything, sir, but make sure you don’t fail to deepen democracy. If they defeat you, they defeat you. If you defeat us, opposition, defeat us. That is my position; it’s nothing personal. You see, that’s why it’s democracy.

Look, President Tinubu became an idol to a lot of us because he stood stoutly against dictatorship. Because he stood; even when Obasanjo came, and Obasanjo was giving Lagos problems, he stood firm, and we stood by him. When they took him to the Code of Conduct Tribunal, we all rose up and said, “No, you cannot witch-hunt a man because of his political leanings.” So, I pray that will continue, and that’s what democracy is all about.

Looking forward to reading the book, right?

Dele Momodu: Oh no, I can’t wait to read it. I’ll see Uncle Yemi Ogunbiyi who was kind enough to invite me.

Thank you so much for coming.

Dele Momodu: Thank you, sir

Interviewer: I get to see you again. Well, that’s our show today, everyone. Thanks for being a part of it. You can watch it all over again at midnight and at 6:00 a.m. tomorrow. I am Nifemi Oguntoye.

Boss Picks

TWINSFAJA Shines As Africa’s Richest Man Rewards Top Dangote Cement Partners

Published

26 minutes ago

January 16, 2026

Eric

By Eric Elezuo

The entire night was tailor-made to fit TwinsFaja Group of Companies as the activities practically revolved round the firm’s achievements, pedigree, style and devotion to customers, clients and parent bodies. It was the night organised by the Dangote Cement House to reward the loyalty of the Dangote Cement Partners, where TwinsFaja, with its amiable Chief Executive Officer, Mrs Kemi Fajana, featured prominently.

It was indeed a night full of glitz, glamour and razzmatazz as Dangote Cement rewards distributors, customers with substantial gifts and awards, leaving TwinsFaja Group of companies to shine brightest.

The glamorous which was held at Eko Hotel & Suites , Victoria Island, Lagos was anchored by a popular comedian Bovi, and attended by Africa’s richest man and Chairman, Dangote Industries Limited, Alhaji Aliko Dangote among other industry greats including Founder of the Zenith Bank Group, Mr. Jim Ovia, and Founder of United Bank for Africa (UBA) and Heirs Holdings, Mr. Tony Elumelu and others.

Representing the TwinsFaja brand, Mrs. Fajana, in company of her husband, majestically arrived the Eko Hotels venue of the event in style to the applause of guests, colleagues, co-awardees and well wishers.

Dabbed in yellowish-gold aso-oke attire, Mrs Fajana strolled gingerly supported by her better half, who was dressed in free flowing sparkling white agbada, to the warm embrace of achievement as the room radiated warmth, glory and success.

The event kickstarted with the arrival of the chief host, Alhaji Dangote, who after seranading the capacity filled hall with his happy disposition and pleasantries, stood in patriotism for the rendition of the National Anthem, alongside other dignitaries.

Thereafter, the Chief Host, Alhaji Dangote delivered his welcome address, admonishing the guests to feel at home at the well organised event, while welcoming all and sundry to the Distributors’ Award Ceremony, just as he commended TwinsFaja and other distributors for their unwavering commitment and resilience “in driving our business forward, even amidst economic challenges.”

He added that “their perseverance and determination in ensuring our products remain available in the market. Thanks to your efforts, we have secured over 57 per cent of the market share, and we encourage you to continue pushing for more growth.”

Dangote noted that “this year’s theme serves as a rallying call for unity and collective growth as we strive for unmatched market leadership in 2026. This theme reflects the strength of our partnership with valued customers, which continues to drive the success of Dangote Cement.”

Aliko Dangote identified and highlighted the distributors as the backbone of the company’s growth and success, and encouraged them to aim for even higher performance levels in 2025.

The awards categories were in phases; Regional Award, Growth Award, Best Performing Customers, and for their continued loyalty and patronage, Dangote Cement rewarded the distributors and customers with various choice gift items and cash worth N11 billion.

At the 2026 edition of its Customers Awards & Gala Nite Veentage band and the invincible Flavour Nabania were on hand to dish out the best of entertainments to the guests with spectacular performances, prompting them to shuffle endlessly to rhythm of togetherness.

While speaking with Ovation Media Group, a very elated Mrs. Fajana expressed her heartfelt gratitude and appreciation to Alhaji Aliko Dangote, staff and her customers for their contribution and support. She noted that out if a dint if hard work, TwinsFaja has successfully emerged the number one company in Lagos and Ogun, and number seven in Nigeria.

“I am so happy. I appreciate my president, Alhaji Aliko Dangote. I worked very hard and to God be the glory, we are number 7 nationwide customer. This means that we are number 1 both in Lagos and Ogun State. I thank God and all our customers because without them, I can’t achieve this. Thank you to all our customers and staff. God bless you all,” Mrs Fajana enthused.

Among Dignitaries that turned up for the all-important event were the Deputy Governor of Lagos State, Mr. Obafemi Hamzat, Former Governor of Ogun State, Chief Olusegun Osoba, Former Governor of Ekiti state, Chief Niyi Adebayo, Chairman of the United Bank for Africa (UBA) Group, Mr. Tony O. Elumelu, CFR, Founder, Zenith Bank International, Mr. Jim Ovia, Chief Executive Officer of Zenith Bank, Mrs. Adaora Umeoji, Chief Executive Officer of UBA, Mr. Oliver Alawuba and a host of others.

ABOUT TWINSFAJA GROUP OF COMPANIES

Established in 1994, and incorporated in 2007, the TwinsFaja Group is a major Nigerian conglomerate founded by accomplished entrepreneur, Mrs Kemi Fajana, and her husband. With minimal formal education, but with great business acumen and entrepreneurial discipline, the duo launched into the deep murky waters of business, and triumphed.

The conglomerate is focused on providing essential daily needs, especially in construction materials (cement, iron rods) and retail groceries through its large supermarket chain. Known for quality, integrity and customer service, the group aims to be a leading supplier in Nigeria and West Africa, expanding from building materials to a diverse online and physical retail presence, including fashion and home appliances.

The story of TwinsFaja, Kemi Fajana and her husband, is the typical example of how a little beginning can blossom into a huge and happy ending.

Reports have it that the couple dabbled into cement sales in the 1990s with just 50 bags, after Kemi diversified from her sales of baby items, and today, with resilience, focus and hard work, have spread across lengths and breadths, controlling over 13 supermarket outlets in both Lagos and Ogun states. They have have stakes in the oil and gas industry as well as the building materials sector.

TwinsFaja exemplifies the process in growth and development of the great oak, whose seed is infinitesimally small, but grows with an expansion that is great and imagine to imagine.

Today, apart from its stake across relevant sectors, Twinsfaja is recognized as one of the biggest distributors of Dangote Cement in Lagos and Ogun. It is believed that its capacity equals ability to move tens of thousands of tonnes of cement in a strong week, and with over 2,000 employees in its payroll.

Though the company’s annual turnover is a matter closeto the chest of the CEO, Kemi Fajana, a platform, Billionaires.Africa estimates that the group’s turnover could be in the neighborhood of $20 million annually or more.

We congratulate Mrs Fajana, the TwinsFaja conglomerate and family, and their loyal customers for another gracious milestone in their quest to provide quality in its everyday business life.

Photos: Funmi Ilelabayo

Boss Picks

Benin Agog As Accomplished Entrepreneur and Journalist, Dele Momodu Set to Formally Declare for ADC

Published

2 days ago

January 14, 2026

Eric

By Eric Elezuo

All is set for the grand declaration of veteran journalist and publisher, Chief Dele Momodu, as he formally joins the coalition party, African Democratic Congress (ADC), in Benin City, the capital of his home state, Edo.

The event, billed to take place at the New ADC State Secretariat, Ogbelaka Road, Benin City, on Thursday, January 15, 2025, is expected to bring together the creme de creme of the ADC family and more.

Speaking exclusively to The Boss, Momodu, who announced his switch to ADC from the Peoples Democratic Party (PDP) a few months ago following irreconcilable crises that had ravaged the party, said that the coming together of political juggernauts to make up the ADC is the best thing that has happened to the nation in recent times.

“Our coming together is divine, and has paved the way for the restoration of life for Nigerians, towards rescuing everyone from the shackles of oppressive rule in the last 10 years, and counting.

Momodu with former Vice President, Atiku Abubakar

“ADC is a testament of readiness towards taking back what belongs to us as Nigerians,” Momodu said.

A former presidential candidate, former presidential aspirant, teacher, inspirational speaker, actor, media guru and entrepreneur, Dele Momodu is a complete package of astuteness, enigma and ready-to-deliver personality, who has contributed immensely to the growth and development of his motherland.

With the leaders of the party expected to be in attendance, the declaration event will be broadcast alive across major media platforms including Arise News Television.

Momodu is not new to political discipline and maneuver. Recall that the much traveled global citizen contested the presidency in 2011, where he represented the National Conscience Party (NCP), and was a presidential aspirant in 2022 under the umbrella of the PDP.

Momodu’s trajectory in the political terrain dated back to the Second Republic, when he functioned as Private Secretary to Chief Akin Omoboriowo, the then deputy governor of Ondo State. He was also prominent in politics during and after the much talked about June 12, 1993 era. His relevance and intellectual capacity in politics speak volumes, climaxing in the fact that his wealth of experience will be an added advantage to the ADC family.

The event will Kickstart at 11am.

Boss Picks

The Boss Man of the Decades, Dr. Mike Adenuga Jr + The Conoil Deal That Shaped 2025

Published

5 days ago

January 11, 2026

Eric

By Eric Elezuo

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.

Adenuga qualifies for the engravement of ‘the gods have come down to us in the likeness of men’. Yes, this is because his agenda is solely centered on affecting the lives of people for the very right reasons, and that, among a plethora of many other reasons, has qualified the Duke of Giving and Enterprise to emerge as The Boss Man of the Decades.

For decades, even prior to the awesome establishment of the Glo brand, Adenuga has remained a never-say-never entrepreneur, conquering territories, breaking new grounds, establishing new vistas and reaching for new horizons. And in all, carrying along all and sundry in his gains and expansion.

Even when the business atmosphere proves cumbersome, Adenuga rises taller than usual, ensuring that dependants as well as service receivers never lack nor complain.

In 2025, among his many achievements, Adenuga exhibited one of his most prized business and entrepreneurial skills with the strategic transaction between his Conoil Producing Limited and TotalEnergies. This is one deal, whose implications stretch beyond balance sheets into Nigeria’s long-troubled oil production narrative. The humongous nature of the transaction and impetuousity associated with it have placed Nigeria on a pedestal only the likes of Adenuga can negotiate for in the oil industry. That’s how big the Bull is.

Seen as a big boost for Nigeria’s oil and gas production, the major production deal was signed in Paris, at TotalEnergies’ headquarters in La Défense, Paris, by Dr. Mike Adenuga Jr., Chairman of Conoil Producing, and Patrick Pouyanné, Chairman and CEO of TotalEnergies.

Also, in 2025, Adenuga held the most outstanding meeting with the President of France, negotiating another deal that promises extreme generosity for the Nigeria and its economic. Though the details of the deal is still close to the chest of the Chairman, its manifestation is expressing green as the ebullient colors of the Globacom Group, under the magnificent management of Mrs Bella Disu nee Adenuga.

He held similar meetings with the President of Ghana, Dr. John Mahama, earlier in the year.

In 2024, he rose from a year that has been replete with economic downturns, where several enterprises and entrepreneurs were counting their losses, and significantly raked in over United States $700 million, to shove up his fortune. A feat, only the very ready can achieve.

According to Billionaires.Africa, a news magazine that tracks the progress or otherwise of African billionaires, Adenuga, in spite of the harsh economic environment, occasioned by policy somersaults of the present administration, proved that his business acumen supercedes environmental economic variables, giving him the leverage to not only have its head above water, but to smash every available class ceiling of average.

The magazine wrote, “Amid a year marked by currency depreciation across several African nations, including Nigeria, billionaire businessman Mike Adenuga solidified his position among the continent’s wealthiest individuals and the world’s 450 richest people. Adenuga, who built his fortune in telecommunications and oil production, saw his net worth rise by $700 million in 2024, a testament to the resilience and diversification of his business empire.

“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.”

Adenuga 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, and 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.

When the Federal Government decided to give indigenous businessmen licences in the dollar-denominated but capital-intensive upstream oil sector, Adenuga was one of those who applied.

Unlike others who sold their licences for quick money, Adenuga was vision personified, and decided to go into full scale prospecting and exploration. The gamble paid off as one of the wells that was being drilled struck oil, making his company, Consolidated Oil, the first indigenous Nigerian company to discover oil in commercial quantity. The epoch making discovery on December 24, 1991, changed many narratives.

Despite his success, Adenuga believes business must have a human face, it must add value, it must have an impact and ultimately, be socially responsible. These are some of the core values that he considers before throwing his money into any investment.

That is not all, he also firmly believes that the world is a field of battle and you must prepare to win, not some time but all the time. He’s a mountain climber like the Tibetan Monk, who believes that you must survive all odds to get to the top.

Incredible tales have been told about his amazing capacity for work. He is known to sleep very little when there is work to be done, and he expects his staff to imbibe the same work ethic. Though generous, he is said to have zero tolerance for incompetence or sloppiness. With him, one must be on their toes every time.

It is therefore, no surprise that his targeted investments and the grace of God Almighty have placed him well ahead of the authentic list of billionaires. His never-give-up spirit is well known and it is this force that has driven him to achieve feats many mortals will think are impossible.

Adenuga has no rival. He is a symbol of endurance, entrepreneurship, extraordinaire and self-made business titan, who is certainly one of the wealthiest black men in the world.

HIS EARLY LIFE

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.

HIS FAMILY

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.

HIS BUSINESSES

As soon he finished his studies in the United States, Dr. Mike Adenuga Jr. returned to Nigeria. His mother was into business, and it was under her tutelage that he began trading. It is probably because of the tremendous impact that she had in his life as Business Adviser that he adored her so much. She passed on in 2005.

Dr. Adenuga Jr, who is the youngest of his parent’s five children, began by selling removable car stereos. Probably sensing his business acumen, he was allowed to run the family saw mill factory in Ogun State.

He began to steadily grow the business. First, he went into the importation of saw mill equipment, then veered into importation of beer eventually hitting it big with his importation of lace.

Recounting those early days, the businessman extraordinaire said he was returning home from a trip in the United States when he missed his British Airways flight and had to fly Swiss Air. On that flight, he was lucky to sit next to the owner of one of the biggest lace manufacturing companies in Austria.

He, it was, who convinced him before the flight touched down to give lace importation a shot. He took this advice and the reward was good. Later, he also went into tomato puree and vegetable oil. He was a sort of Jack of all trades and master of all. By the age of 26, he was already a millionaire.

As he grew older with more financial muscle, he decided to streamline his operations and look for investments in key sectors of the economy to concentrate on. That was how he began to structure the Mike Adenuga Group where he is Chairman.

When General Ibrahim Babangida decided to break the monopoly of foreigners in the oil industry and encouraged Nigerians to participate, Adenuga was one of those who took up the challenge.

His company, Consolidated Oil applied for and was granted some oil blocs. It was a very risky decision and even his mother advised him against it. He spent over $100 million on evaluation, interpretation and drilling. His courage and tenacity paid off when Consolidated Oil became the first Nigerian company to explore, discover and produce oil in large commercial quantities. Now called Conoil Producing Limited, it is currently the leading indigenous oil and gas exploration and producing company in Africa.

Years later in year 2000, he bought over the moribund National Oil and Chemicals Company (NOLCHEM), taking over the government’s majority shares. He has since injected fresh funds into the company and rechristened it Conoil Plc.

Conoil Plc has over 450 retail outlets all over the country and is the acknowledged leader of development in modern retail outlets such as mega stations and non-space pumps in new-look retail outlets. It is the market leader in aviation fuels.

Adenuga’s most ambitious project yet is in telecommunications. His company, Globacom is the Second National Operator in the country. The first is the government-owned NITEL. It is obvious that with Globacom, Adenuga is not interested in short-term profit, he is there for the long haul and of course, his desire is to give Nigerians and Africans world class telecommunication services.

When he launched the network, he was two years behind the others, Adenuga’s entry strategy was to be innovative and aggressive. He waged a price war, democratized and demystified telephone services. Today, the ultimate risk taker has taken Globacom from the nadir to the zenith of the industry.

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 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.

The network currently has over 60 million subscribers, and is the most preferred network in Nigeria, with a vast network of already laid fibre crisscrossing all parts of the country.

The Globacom network comprehensively covers over 400,000 communities, all the 36 states and all major highways. Globacom has highly successful subsidiary networks operating in other West African countries.

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.

Glo 1 – This is the only solely-owned high capacity submarine cable with connection to the USA and running from the UK through African and European countries. It has been and continues to be a huge commercial success at the heart of the socio-economic development of Nigeria.

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 Guru’.

Dr. Mike Adenuga Jr also has vast holdings in the banking, real estate and infrastructure sectors of Nigeria.

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.

HIS SUPPORT FOR SPORTS

His passion for giving is not only personal, the culture has also been imbibed by his companies especially Globacom. Through Globacom, he became the biggest supporter of football in Africa.

For so many years, the company 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.

Globacom spent billions of naira in developing the Nigerian league and clubs, 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.

In that same 2013, the company signed a N1.9 billion deal with Nigeria’s league Management Committee. The company also did same for other associations and major leagues in Africa.

Dr. Mike Adenuga Jr. also started a football revolution with the sponsorship and transformation of the yearly Glo/CAF Footballer of the Year Awards. He is the undisputed pillar of sports in Africa.

HIS GIANT STRIDES IN CULTURE AND CREATIVE INDUSTRY

Nigeria’s entertainment industry has also received a massive boost through Adenuga’s love for the arts expressed through Globacom.

No company in the nation’s private sector in the last two decades, has consistently invested largely in Nigeria’s entertainment industry like Globacom Limited.

Adenuga’s vision is reflected in Glo’s youth-driven ecosystem. There is no strata of Nigeria’s entertainment industry that you will not find the signature of Glo on it: from music to acting to comedy to sports, etcetera, the list is long.

Glo has come to be regarded as a network of stars. No corporate organization has had the kind of constellation of entertainment heavyweights as it brand ambassadors as Globacom. All through the years, the cream of the country’s musicians, footballers, literary icons, actors, actresses and comedians have either be signed on as brand ambassadors or featured in the company’s commercials.

Some celebrities who have graced Glo’s Hall of Fame include: King Sunny Ade, Ebenezer Obey, Osita Osadebe, Oliver d’ Coque, Prof Wale Soyinka, Yusuf Maitama Sule, Nelly Uchendu, Onyeka Onwenu, D’Banj, MI Abaga, PSquare.

Others are Rita Dominic, Ini Edo, Juliet Ibrahim, Matter Ankomah, Davido, Wizkid, Flavour, Gordons, Basketmouth, I go Dye, Teniola, Brother Shaggi, Mikel Obi, Victor Moses, Osaze Odemwingie, Joselyn Dumas, Michael Essien, Anthony Joshua, Tobi Amusan, Ime Bishop Okon, Asake, Chike, Kizz Daniel and a host of others.

While the commercials that featured these stars helped to market the Glo brand and make it a household name, the partnership benefited these celebrities very well as it served as strategic public relations for their individual brands and its attendant financial gains.

So far, no corporate organization has touched the lives of these celebrities like Glo. The advent of Glo has really been a blessing to celebrities in the industry and beyond. The most interesting factor is that Glo is still in the business of investing in the industry despite excruciating economic realities in the country.

This explains Glo’s humongous investments in talent hunt shows in the last eighteen years. It has sponsored shows like: Rock ‘n’ Rule, GloNaiga Sings, Laffta Fest, and the world number one music singing talent reality TV show, X Factor, which birthed in Africa for the first time in 2013.

Others are Slide and Bounce concert, an entertainment tour which went round all the geopolitical zones of the country as well as Glo Mega Music Show and Glo’s Battle of the Year, which gave the winners a life-changing N9 million prize money, a Toyota Hiace bus valued at N25 million and other prizes.

Glo has also been in the forefront of showing the celebrities in the CNN Glo-Sponsored African Voices Change makers.A host of African talents have featured in the international programme.

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 Abiriba, Oru – Owerri in Imo state, Afia- Orlu in Nnewi, Anambra State and Abia –Ugwa in Isiala Ngwa, Abia State, among others. The company has through sponsoring the festivals not only brought them to international limelight, but has also turned the host cities into major tourist attractions.

HIS PASSION FOR PHILANTHROPY

He is without doubt, the most generous Nigerian alive. He gives ceaselessly and carelessly. He is an angel of mercy; giving is living for him. One cannot help but open mouth wide whenever they open his philanthropic envelope

Describing Adenuga’s large heart in an article, The Boss Newspaper Publisher, Dele Momodu, wrote “Everyman should wake up and pray to meet and become good friends with the Spirit of Africa. Trust me, it is worth every second of it. Just imagine a man who dashes out the same kind of cars he drives to friends.

“Dr. Adenuga believes that his friends are entitled to the same kind of material things that he wishes for and buys for himself. He has no jealous or mean streak in him in that respect,” he wrote.

Adenuga’s former close aide, Bode Opesietan also stated “Dr Adenuga’s generosity is legendary. He gives personal rewards like no other billionaire. If God has given you this kind of resources, it is not for you and your family alone” he would say”.

Also during the peak of the COVID-19 pandemic, Adenuga was 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.

According to Adenuga “How much money can one individual or his family enjoy? You must spread it and touch lives…that is what brings true happiness and joy. What’s the point if your friend is wealthy and it doesn’t show on his friends”.

There is nothing more to add. When it comes to philanthropy, Adenuga is in a class of his own! Indeed generosity is in his DNA!

HIS PHILOSOPHY OF LIFE

Dr. Adenuga loves integrity and loyalty. Because he hardly goes out, he is able to monitor people and events quietly from his desk and home.

Aside from this, He has had to navigate his way through the murky waters of Nigerian politics. Dr. Adenuga avoids and shuns politics like the plague. He does not believe that he must be involved in politics for his businesses to survive or thrive.

All he campaigns for is an avenue to do business on a level playing field because he knows that he can survive and outlast most people. He considers himself one of the fittest and the best, if not the fittest and the best since he is methodical, calculating and highly industrious and energetic, and does not like attracting unnecessary attention to himself or his business.

Among many of his pluses, Adenuga is sagacious, methodical man, and rewards excellence. He does not suffer fools gladly. Most of his offices around the world are open 24 hours.

HIS LIFE STYLE

You can call him an enigma and you will not be wrong. He is a very shy gentleman, a trait that many mistake for arrogance. Before Globacom, Dr Adenuga Jnr was one of Nigeria’s silent billionaires. He was making his money without fanfare. Then came Glo, and he became one of the most recognizable Nigerians alive.

Till date, he hardly attends public functions and even if he does he sneaks in without any fuss and leaves even before the Master of Ceremony recognizes his presence. He has said to as many that care to listen that he orders to live under the parapet.

Despite this elusive persona, those who have met him can attest to his ebullient nature. He is one man who catches his fun when he is in the mood. He has very fine and elegant taste. A connoisseur through and through.

Contrary to what many think, he still finds time to unwind most times only in the company of his inner circle of friends and family.

Dr. Adenuga is neither ostentatious or extravagant in his style and dress. For him moderation is the value of life. In the early days, it was obvious he loved safari suits, but these days nice flowing shirts which mostly have his personal crest emblazoned on them are the norm.

Of course like all billionaires, he loves powerful cars, nothing over the top or attention-seeking. And as per flying, he has the accoutrement that fits his jet set, super executive lifestyle, which means he has long forgotten what it looks like to fly commercial.

HIS LOVE FOR FRANCE

Dr. Mike Adenuga has always had a great affection for France, and had long established a cordial relationship with the nation between the recent President Bola Tinubu incursion into French territory. He often visits the country, where he also owns property, and has maintained a productive and valuable relationship with French interests.

It was out of this desire, love and affection for France that he ardently supported the development of Alliance Française in Lagos, in the wish to see that its activities, efforts and initiatives could be enhanced, and its reach and appeal increased.

The brand new, ultra-modern Mike Adenuga Centre was unveiled by French President, Emmanuel Macron in 2019.

It is for this great act and his humongous investments that the French president deemed it fit to bestow on him the country’s highest national honour.

HIS HONOURS ROLL

For his contribution to economies and communities across the globe, Dr. Mike Adenuga has been appreciated with so many awards, traditional titles and honours. The most prominent are the national honours from Nigeria, Ghana and France.

In Nigeria, he holds the highest civilian honour of Grand Commander of the Order of the Niger (GCON), this honour was hitherto reserved for mostly vice presidents.

In Ghana, he was awarded the highest civilian honour of Companion of the Star of Ghana (CSG). According to then 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, artistes, footballers and many more. I am particularly proud of you. This award is our way of a saying a simple thank you.”

The entrepreneur extraordinaire was also decorated with the Chavalier de la Legion d Honnuer (CdrLH), the highest National honour of France, by French President, Emmanuel Macron.

Explaining why the French Government decided to confer the honour on Adenuga, President Macron, who described the consummate businessman as a true model of Africa, noted that he had contributed immensely to the African and French economy.

Adenuga is an impressive African treasure, business phenomenon and this generation’s Mr. Consistency, and so deserves the very best of toasts.

Congratulations sir!