Mike Adenuga: Architect of Nigeria's Telecommunications and Oil Industries

Born on April 29, 1953, in Ibadan, Nigeria, Mike Adenuga is the son of a schoolteacher father and a businesswoman mother of royal Ijebu descent. He attended Ibadan Grammar School and Comprehensive High School, Aiyetoro. To fund his university education, Adenuga worked as a taxi driver, demonstrating early entrepreneurial spirit. He earned degrees in Business Administration from Northwestern Oklahoma State University and Pace University in New York.

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Mike Adenuga's Impact on Africa's Telecom Industry

Adenuga made his first million at the age of 26 through the sale of lace and distribution of soft drinks. In 1990, he obtained a drilling license, and by 1991, his company, Consolidated Oil (now Conoil), became the first indigenous Nigerian company to strike oil in commercial quantities. In 2003, he founded Globacom, now Nigeria's second-largest telecommunications operator, with a presence in Ghana and Benin.

As of April 2025, Forbes estimates Adenuga's net worth at $6.8 billion, positioning him as the fifth richest person in Africa.

In recognition of his contributions, Adenuga was conferred with the Grand Commander of the Order of the Niger by the Nigerian government in 2012. In 2018, he was honored with the insignia of a Commander of the Legion of Honour by French President Emmanuel Macron.

Adenuga's journey from modest beginnings to becoming a titan in the telecommunications and oil industries exemplifies resilience and strategic vision, marking him as a key player in Africa's economic development.