Mike Adenuga @ 67: Making Money Is Melody

By Chuks Ekpeneru

For a man whose mother was an illustrious businesswoman in her time, it was no surprise that making money has been Chief Mike Adenuga’s primary purpose in life.

In that quest, he has received phenomenally successful given his towering wealth estimated at $5.8 billion which puts him as Nigeria’s second richest man and number three in Africa.

For a man who started off making money first as a taxi driver in university and subsequently selling soft drinks in Nigeria it has been a remarkable journey.

Indeed, he made his first million selling soft drinks and lace materials after returning from America in the eighties at the age of 26.

Born on 29 April 1953 in Ibadan to Michael Agbolade Adenuga Sr and Juliana Oyindamola (née Onashile, of Okesopin, Ijebu Igbo), a businesswoman of royal Ijebu descent.

Adenuga received his secondary school education at Ibadan Grammar School, Ibadan, and Comprehensive High School, Aiyetoro, for his Higher School Certificate (HSC). He worked as a taxi driver to help fund his university education. He graduated from Northwestern Oklahoma State University and Pace University, New York, with degrees in Business Administration.

In 1990, he received a drilling license and in 1991, his Consolidated Oil struck oil in the shallow waters of Southwestern Ondo State, the first indigenous oil company to do so in commercial quantity.

He was issued a conditional GSM licence in 1999; after it was revoked he received a second one when the government held another auction in 2003. His telecom company Globacom spread quickly and started challenging the giant MTN Group. It launched services in Benin in 2008, and has continued its spread across Ghana and Côte d’Ivoire, with more licences currently being prospected in other West African countries.

He was named African Entrepreneur of The Year at the first African Telecoms Awards (ATA) in August 2007.

In 2012, he was made Grand Commander of the Order of the Niger by the government of Nigeria.

He holds a Yoruba tribal chieftaincy as the Otunba Apesin of the Ijebu clan.

In 2018, he was decorated with the insignia of a Commander of the Legion of Honour by President Emmanuel Macron of France

His net worth is estimated at around 5.8 billion USD (2020).

He is married to Titi Joyce Adenuga.

He has seven children.

Send Us A Press Statement Advertise With Us Contact Us

 And For More Nigerian News Visit GWG.NG