Name Dr. Mike Adeniyi Ishola Adenuga Jr. (GCON), the quintessential African Entrepreneur and also you gained’t be unsuitable. The Chairman of the Mike Adenuga Group, spanning oil and gasoline, telecommunications, aviation, building, banking and actual property, who would quickly clock 71 on April 29, has been a constant examine in Diligence, Philanthropy and Entrepreneurial Excellence. Recognized for his ardour and dedication to engendering prosperity for Africa, his consistency in investing on the continent can be legendary. Chiemelie Ezeobi writes that having etched his title in gold along with his enterprise empire, the dividends proceed to echo by his biggest assets- the 1000’s of individuals he mentored and nurtured over time
Born on April 28, 1953, within the historic metropolis of Ibadan, into the household of Chief Mike Adenuga Snr. and Madam Oyindamola Adenuga, a profitable dealer and Yeyeoba of Ijebuland, Dr. Mike Adeniyi Ishola Adenuga Jr. (GCON), Nigeria’s quintessential African Entrepreneur’s life is a narrative for the books.
His years of excellence started along with his attendance of the well-known Ibadan Grammar College, in Oyo State, Nigeria, for his secondary schooling. He would examine Enterprise Administration at Northwestern State College, Alva Oklahoma, in america earlier than he earned a Grasp’s diploma at Tempo College, New York, majoring in Enterprise Administration with emphasis on Advertising and marketing, which maybe explains his wit in relation to constructing a formidable model.
Through the years, this quintessential African entrepreneur by excessive dedication and resilience has etched his title in gold in enterprise and funding on the African continent in key sectors spanning oil and gasoline, hospitality, telecoms, aviation, building, banking and actual property.
With a exceptional internet value of $6.7bn in 2024 as estimated by Forbes, Adenuga, ranked at quantity 409 within the Forbes checklist and quantity two in Africa, which is past inspiring for somebody that earned his first million on the age of 26 promoting lace and distributing gentle drinks.
Sustaining Lead in Oil and Fuel Sector by Conoil Plc
Within the oil and gasoline sector, as an example, Conoil Plc is among the largest and most worthwhile oil advertising and marketing corporations in Nigeria.
Although Conoil Producing, the downstream arm of the conglomerate, made historical past by turning into the primary Nigerian firm to strike oil and produce it in industrial amount in 1991, that has not made them calm down their oars, relatively below the dynamic management of Dr. Adenuga, has spurred them to better heights.
Working six extremely potential blocks within the Niger Delta and producing about 20,000 barrels of oil every day, the corporate boasts over 27 years of expertise and at present holds a considerable oil reserve working into hundreds of thousands of barrels and trillion cubic ft of gasoline.
Revolutionising the Telecommunications Business by Globacom
Within the telecommunications business, Dr. Adenuga (Jnr.) is strictly what he has been described to be- a revolutionary, having launched so many earth-cutting and modern options to Nigeria and the continent at giant by Globacom, a digital options supplier.
Actually, below his steerage, Globacom has been probably the most modern networks in Africa and has operations in Nigeria and Ghana with footprints in Senegal, Gambia and Cote d’Ivoire.
In 2010, he made historical past when his telecoms agency commissioned its solely-financed worldwide submarine cable, Glo 1 and has over time supplied an answer to the long-standing drawback of inadequate web bandwidth for Africa and has led to a a lot sooner and strong connectivity for voice, information and video.
The corporate is the one operator with an entirely owned submarine cable, Glo 1, which connects West Africa on to the UK and the remainder of the world. It additionally connects 12 nations within the West Africa sub-region, together with a few of them which are landlocked.
He’s additionally credited with taking part in a significant position within the telecom revolution in Nigeria as Globacom’s historic introduction of Per Second Billing and crashing of SIM price from over N50,000 to as little as N100, which led to the huge phone penetration in Nigeria, thus contributing to the over 165m lively phone strains in Nigeria as we speak.
The community additionally pioneered such revolutionary merchandise as Blackberry Providers, Multimedia Messaging Service (MMS), Magic Plus, Glo Direct, Worldwide MMS, Inflight Roaming, Pay as you go Roaming, Glo Cell Web, GloFleetmanager, Cell Banking, Glo Cell Workplace, Glo TV, Glo Cloud, Glo All the time On, and Glo Berekete, amongst others.
Presently, Globacom is at present embarking on laying Glo 2, the primary submarine cable in Nigeria to terminate exterior Lagos, which might take bandwidth past Lagos to different components of the nation, particularly the oil platforms to allow “Digital Oilfields” and empower under-served communities within the South-south and South-east.
Banking
In banking, he additionally wielded his magic wand by Equitorial Belief Financial institution (ETB), which was one of many few banks that effortlessly met the N25billion capital requirement throughout the 2005 banking consolidation train with out going to the inventory market. It solely merged with Devcom Financial institution which was additionally owned by Dr. Adenuga.
Few years again, ETB merged with Sterling Financial institution and continues to be waxing robust. His possession in Sterling Monetary Holding has made the corporate listed on the Nigerian Alternate. Presently, Sterling operates two key subsidiaries: Sterling Financial institution PLC, a industrial banking service supplier, and Different Financial institution Restricted, a pioneering Non-Curiosity Banking (NIB) enterprise.
Constructing Multi-Billion Greenback Funding in Actual Property
Adenuga additionally has a multi-billion greenback funding in actual property. By means of Cobble-Stone Properties & Estates Restricted, Adenuga’s property improvement and advertising and marketing firm has performed a significant position in shaping Nigeria’s actual property business.
With a portfolio of over 200 landmark buildings comprising residential, industrial, and mixed-use properties, together with the current Ilé Ọjà improvement, his actual property firm is a mirrored image of his imaginative and prescient to rework city landscapes.
Remodeling Lives by Employment of Labour
What Dr. Adenuga has completed with these corporations, whereas commendable, can not measure up along with his greatest and maybe most essential feat so far- which is remodeling the lives of 1000’s that work for these corporations.
What these corporations and investments he berthed have completed is present direct employment to 1000’s of Nigerians and folks from the worldwide neighborhood, in addition to hundreds of thousands of different oblique employment.
Earlier this 12 months, this reporter was opportune to witness the enjoyment and pleasure of those employees as they had been wined and feted on the Finish of the 12 months Soiree held at Eko Lodge and Suites to commemorate the twentieth anniversary of the digital options firm, Globacom.
A whole lot of those staff from the Globacom model had been flown in and lodged to be appreciated for his or her dedication to obligation. Tens of millions had been gained and others celebrated for having labored for twenty years for the corporate, however what stood out was the satisfaction and the sensation of possession the model had bestowed on its staff-from the low to highest stage, a legacy his daughter, Bella Disu has sustained.
Incomparable Help for Soccer in Africa
By way of help for sports activities, Dr. Adenuga Jr., by his firm, Globacom, is the largest supporter of soccer in Africa and has raised the profile of soccer in Nigeria and Ghana with the sponsorship of the Premier Leagues and nationwide soccer groups of the 2 international locations for a number of years.
It’s on file that the corporate spent over N15 billion in money and type on Nigerian soccer. It additionally remodeled the annual CAF Awards and made it essentially the most glamorous sports activities occasion on the continent. It was not shocking that CAF awarded Adenuga the Pillar of Soccer in Africa for his robust help for African Soccer at each nationwide and continental ranges.
Nationwide and International Laurels
With all he has achieved and continues to be engaging in, it’s not shocking that every of his enterprise ventures and investments in several sectors, play management roles by setting the tempo and contributing to the expansion of the Nigerian financial system and the continent at giant.
In recognition of his enterprise accomplishments and excellent contributions to the expansion of the nation, he was awarded the Grand Commander of the Order of the Niger (GCON).
He additionally holds honorary doctorate levels conferred on him by the College of Ibadan and the Ogun State College.
Throughout Nigeria’s fiftieth anniversary celebration, Adenuga was one of many 50 pre-eminent Nigerians who had been conferred with the Particular Golden Jubilee Independence Anniversary Awards by the Federal Authorities of Nigeria.
Enterprise-wise, his accomplishments have continued to hunt him out for nationwide and international accolades. In Ghana, he was given the best nationwide award, “The Companion of the Star of Ghana” in 2016.
In 2017, he was honoured by the French authorities with the award of the “Chevalier la Legion d’Honnuer” and in July 2018, the French President, Emmanuel Macron, elevated him to ‘Commander of the Legion of Honour’, France’s highest nationwide honour.
Expectedly, Dr. Adenuga has gained quite a few different awards in recognition of his private and enterprise accomplishments amongst which is the African Telecoms Entrepreneur of the 12 months for his brave and speedy funding within the telecoms sector. He was early 2010 voted Nigeria’s Most Excellent Enterprise Character within the final 50 years by THISDAY, Nigeria’s most influential newspaper.
In 2009, Dr. Adenuga gained the coveted Silverbird Man of the 12 months Award, polling over 75 per cent of the votes solid to beat different eminent personalities nominated for a similar award. Equally, a number of different media organisations, Solar Newspapers, Unbiased Newspapers, Management Newspapers; Metropolis Folks and Ovation Worldwide Journal have additionally honoured the Globacom Chairman with their Man of the 12 months Award inside the previous few years.
In 2020, THISDAY named him Entrepreneur of the Decade at its Silver Jubilee celebration, whereas Nigeria’s oldest personal newspaper, Tribune, awarded him Nigeria’s Most Excellent and Modern Entrepreneur at its seventieth anniversary occasion.
As he clocks 71, on April 29, this 12 months, the Otunba Apesin of the Ijebu clan, would as standard be celebrated for his enterprise acumen, glorious spirit, entrepreneurial drive and philanthropic nature however for most individuals, its his capacity to rework the lives of his staff and people who are available contact with him, that counts essentially the most.
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With all he has achieved and continues to be engaging in, it’s not shocking that every of his enterprise ventures and investments in several sectors, play management roles by setting the tempo and contributing to the expansion of the Nigerian financial system and the continent at giant