Tag: adenuga

  • The ‘Spirit of Africa’ in jolly mood

    The ‘Spirit of Africa’ in jolly mood

    Much like the esteemed Agemo masquerade, which graces the streets of Ijebu only once a year, Dr. Mike Agbolade Adenuga, known as ‘Spirit of Africa’ in some quarters and ‘The Bull’ in some other quarters, is a figure of great reverence whose presence is seldom felt, yet his influence resonates in many spheres. Whenever Dr. Adenuga emerges from his proverbial cocoon, it is never for frivolous pursuits; rather, it is for matters that hold deep significance to him.

    Last weekend, in a rare public appearance, Dr. Adenuga visited the stunning Lekki home of his long-time ally, Bright Igbinedion, the son of the wealthy businessman and esteemed Esama of Benin, Chief Lucky Igbinedion. The encounter was a rare window into the camaraderie shared among influential figures in Nigeria.

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    Dressed in a crisp blue shirt and white trousers, Dr. Adenuga entered Bright’s sitting room, instantly transforming the ambiance into one filled with warmth and excitement. The moment he walked in, a palpable energy swept through the gathering, akin to a refreshing summer breeze, igniting a sense of joy among the guests. As he mingled with those present, exchanging heartfelt pleasantries, it was evident that the billionaire enjoyed these cherished connections, showcasing a lighter, more jovial side of himself.

    One particularly striking aspect of Dr. Adenuga’s demeanor was his humble approach; he greeted individuals with a courteous bow, demonstrating a level of respect that belies his immense wealth and social standing. This gesture left many in attendance astonished, highlighting his commitment to humility even amidst his towering achievements.

    During the event, Dr. Adenuga also raised a toast in honor of Bright Igbinedion, showering him with praises and good wishes for many more prosperous years ahead. It was a rare moment that showcased his affection and deep respect for the Igbinedion family, a bond that has only strengthened over the decades. His presence at such gatherings is a testament to the enduring friendship they share, reminding all of the power of lasting relationships built on mutual esteem and shared history.

  • Dangote, Adenuga, Rabiu, Otedola remain on Forbes Africa’s billionaires list

    Dangote, Adenuga, Rabiu, Otedola remain on Forbes Africa’s billionaires list

    • Dangote’s wealth surges by $10 billion, Otedola adds 30%

    Nigeria’s wealthiest businessmen, Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu and Femi Otedola have emerged as the only Nigerians on the 2025 ‘Africa’s Billionaires List’ compiled by Forbes, which was released on Saturday.

    Again, Dangote topped the list for the 14th year in a row with an estimated net worth of $23.9 billion, up from $13.9 billion a year ago. The big jump in his fortune was primarily due to Forbes adding the value of his refinery.

    The Dangote Group operates in diverse sectors, including cement, sugar, flour, salt, seasoning, pasta, beverages, real estate, and has projects in oil & gas and fertilizer.

    On the other hand, Adenuga who was 5th on the list, had $6.8 billion in his kitty during the period under consideration, while Rabiu was worth $5.1 billion. Adenuga runs the Pan-African telecommunications business, Globacom, while Rabiu owns the BUA Group with interest in cement, sugar, oil, among others.

    Nigerian business mogul and philanthropist, Otedola, emerged the 16th richest person in Africa on the Forbes list, with his wealth surging by over 30 per cent in the last one year.

    In the new list, Forbes stated that Otedola’s wealth hit $1.5 billion during the period, with the rate of increase in total wealth coming behind Johann Rupert of South Africa, whose wealth grew 39 per cent.

    A prominent Nigerian businessman, Otedola has established and led several companies across various sectors and has many notable enterprises associated with his name.

    Checks showed some of them as Geregu Power Plc, the first electricity-generating company in Nigeria to be listed on the Nigerian Exchange in October 2022, where he serves as the Chairman.

    Among others, he is also the Chairman of First Holdco Plc, formerly FBN Holdings Plc,  a financial holding company that acts as the parent company for a diversified group of financial services businesses, including commercial banking, merchant banking, capital markets, trusteeship, and insurance brokerage, operating across Africa.

    An unrelenting philanthropist, Otedola has been a significant supporter of Save the Children, donating billions of Naira and becoming a Vice President in recognition of his efforts to improve the lives of children in Nigeria. Save the Children is an organisation that works to improve the lives of vulnerable children worldwide.

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    “Another billionaire whose fortune grew more than 30 per cent (was) Femi Otedola of Nigeria ($1.5 billion), chairman of listed power generation firm Geregu Power Plc. Shares of Geregu surged some 40 per cent in the past year following a jump in revenue and profits,” the Forbes report added.

    Forbes list tracks the wealth of African billionaires who reside in Africa or have their primary business there. Forbes said net worths were calculated using stock prices and currency exchange rates from the close of business on March 7, 2025.

    Stressing that net worth changes were measured from Forbes’ 2024 African billionaires list, published in January 2024, Forbes stated that to value privately held businesses, it starts with estimates of revenues or profits and applies prevailing price-to-sale or price-to-earnings ratios for similar public companies.

    In the same vein, the report noted that the cumulative wealth of Africa’s billionaires surpassed $100 billion for the first time ever as the continent’s 22 billionaires saw their fortunes rise to a total of $105 billion, up from $82.4 billion and 20 billionaires last year.

    South Africa had the largest number of billionaires this year, with seven, followed by four from Nigeria and four from Egypt.

  • How we ferried Globacom boss Adenuga into exile on night of Orkar’s coup – Osiyemi

    How we ferried Globacom boss Adenuga into exile on night of Orkar’s coup – Osiyemi

    Prince Bayo Osiyemi, a former Chief Press Secretary to the first civilian governor of Lagos State, Alhaji Lateef Jakande, has revealed how the CEO of Globacom Limited, Chief Mike Adenuga, was ferried into exile on the night of Major Gideon Orkar-led military coup against the Gen. Ibrahim Babangida-led military administration on April 22, 1990.

    Osiyemi in his memoir due for launch in February next year to commemorate his 75th birthday anniversary, stated disclosed that the Globacom boss had to ferried out the moment the coup was announced because of his closeness to the former military president.

    This he said he did in conjunction with a friend, Titus Fapohunda, using a brand of Volkswagen car popularly called Beetle, because they feared that Adenuga could become a target for the coup plotters.

    He said: “I had experienced Otunba Dr Michael Adeniyi Isola Adenuga in diverse ways – his uncommon knack for hard work, his relentless pursuit of excellence and his legendary generosity.

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    “But his adaptive power came to the fore during the Major Gideon Orkar abortive coup, which could have aborted the dreams of one of Africa’s wealthiest son of Ijebu Igbo, nay all of Africa!

    “From my underground security network, I learnt of the Orkar coup in the wee-hours, and my instinct told me I must reach out to my divine helper and townsman and ferry him into safety.

    “I designed a smart move and called out one of the most loyal subordinates I had in my Jakande years to please lend me a Volkswagen (Beetle) car to be used to take Mike Adenuga away from his then Oko Awo Street residence in Victoria Island to a safe hiding place.

    “Thank God he ran a 24-hour office, and an unexpected call to him through that office demanded that he should be woken up from sleep to get ready for me to help him to exit the country.

    “The reason I made the move was simple: from the coup-speech of Orkar, Mike Adenuga, being a close ally of then military President, General Ibrahim Babangida, would have been a sure candidate for instant elimination by the drunken coup plotters.

    “Titus Fapohunda, my subordinate and friend for life until death took him away a few years ago, volunteered, also at the risk of his own life, to embark on the rescue journey to Victoria Island from our Ilupeju (Lagos) neighbourhood.

    “Mike Adenuga was ready for me by the time we arrived at his residence. Visibly shaken, he bundled his bulky frame and adapted himself into the back seat of the choky vehicle. We were to ferry him across the border for him to escape to London through Cotonou.

    “But as we approached the Ojo Military Cantonment, its frontage on Badagry Expressway had been blocked with a ferocious-looking military saladin tank. Graciously, a crowd had massed opposite the Cantonment at the break of dawn to watch the events unfolding.

    “All three of us – Mike, Titus and I – were overtaken by fright, but as journalists, Titus and I decided to device a method to secure Mike’s safety, which was what mattered most to my friend and I at that point in time.

    “I asked Mike (Adenuga) to jump into the drainage channel while Titus and I put our legs on him inside the huge gutter. After a short while, I again decided to move Mike from that spot into Ojo town, to seek refuge in the house of a senior party man and colleague in Jakande’s government, Chief Richard Ege.

    “We were there enjoying Ege’s hospitality until the national radio declared in breaking news that the coup had been foiled.

    “From there, Mike Adenuga, now saved from a waiting death, escaped to the UK until Babangida reclaimed power, and returned after a short stay in self-exile.”

  • BREAKING: Mike Adenuga returns as second richest Nigerian

    BREAKING: Mike Adenuga returns as second richest Nigerian

    Renowned Nigerian telecom and oil magnate, Mike Adenuga, has reclaimed the position of Nigeria’s second-richest individual, surpassing Abdul Samad Rabiu, following Forbes’ reassessment of the value of his mobile phone network, Globacom.

    Adenuga’s current net worth is now at $7.4 billion, solidifying his prominent standing in Africa’s business arena.

    The founder of Nigeria’s third-largest telecom service provider, Globacom, had temporarily yielded the second-richest position to Rabiu a year and a half ago.

    However, following recent reassessment, he now holds the title of Nigeria’s second-richest person, trailing only behind Aliko Dangote.

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    With a net worth of $7.4 billion, Adenuga also secures the fifth spot among Africa’s wealthiest individuals.

    Beyond his telecommunications venture, his extensive business portfolio includes substantial investments in the oil industry through Conoil Producing and Conpetro.

    His notable presence in Sterling Financial Holding, where he holds a 30.63 percent stake, further solidifies his status among Nigeria’s financial elite.

    Under Adenuga’s leadership, Globacom has actively pursued the objective of establishing Africa’s most extensive telecommunications network, accumulating millions of subscribers in Nigeria and Ghana and commanding around 28 percent of the market share in Nigeria.

  • Paddy Adenuga opens up on Reem

    Paddy Adenuga opens up on Reem

    For anyone close enough to Paddy Adenuga, the name Reem would not be strange to the individual.

    This is because Reem was the beautiful lady, who ignited the sparks in the eyes of the industrious Paddy Adenuga, while she lived on earth. She was very special to him and together they made magic.

    She was the apple of Paddy’s eyes and he never shied away from expressing his love for her whenever the opportunity avails itself. They were lovely together and she was very supportive of Paddy’s high and tall dreams. They toured the world together and made Europe their home until the grim reaper decided to put asunder.

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    Reem passed away in 2017 just before her 25th birthday and her passing left a huge vacuum to fill as Paddy has carried on in honouring her name and keeping the memories of their time together.

    For Paddy, every May 24 is special because the day was Reem’s birthday and he uses the opportunity to honour and celebrate her posthumous birthdays.

    In honour of Reem, Paddy has decided to put his newly acquired scriptwriting skills to use with a film in honour of Reem.

    Paddy is said to have concluded the screenplay for the film, which is entitled ‘Once Upon a Reem.’ The film, Paddy told close associates, will be a sequel to his famous article, “A Lion in the North Sea: The Battle for Chevron Netherlands,” where he narrated how he almost bought over Chevron Netherlands.

    Not only has Paddy concluded to give it his all, he would also be sitting as the film’s director and will be putting it on a streaming platform for the world to see and experience Reem and their love affair.

  • Embrace virtues of good citizenship, Adenuga charges

    The chairman of Globacom, Dr. Mike Adenuga Jr., has called on citizens to embrace the virtues of honesty, hard work, integrity, probity and responsibility.

    He gave the charge at the third Annual Oba Adetona Professorial Chair Lecture of the Olabisi Onabanjo University, Ago Iwoye. He was represented at the lecture by a top management staff of Globacom, Mr. Folu Aderibigbe.

    The 2019 edition of the lecture brought illustrious sons and daughters of Ijebu, as well as their friends, together in Ijebu Ode. The occasion was doubly grand because it formed part of the celebration of the 85th birthday of the Awujale of Ijebu land, Oba Sikiru Adetona.

    The Globacom Chairman described the theme of the lecture, “Grassroots Governance, the soft underbelly of Nigeria’s political architecture”, as fitting. He noted that if the administration at the local government was good, it would translate to better government at the centre.

    Dr. Adenuga eulogised Oba Adetona for donating the Professorial Chair at the Olabisi Onabanjo University. He said the endowment would contribute its own quota to the growth of the country.

    In his own remarks at the event, the celebrant, who has spent 59 years on the throne, thanked God for sparing his life. He also thanked the Ijebu and the event sponsor, Globacom, for the huge support that has given rise to great development and progress in his domain.

    The revered Oba particularly prayed for the chairman of Globacom, wishing him long life, good health and continued prosperity.

    Professor Ayo Olukotun, who currently occupies the chair, in his lecture, advocated a replacement of local governments in the country as they had failed to measure up to their billing in the polity.

    Also speaking, the Chairman, Board of Trustees of the Professorial Chair, Mr. Olatunji Ayanlaja, traced the trajectory of the lectures, recalling that the first one was delivered by Professor Akin Mabogunje in 2016, while the second one was delivered by Professor Olukotun.

    Mr. Ayanlaja disclosed that Oba Adetona had created a N1 billion Trust Fund of his personal money for the maintenance of the Awujale’s Palace in perpetuity.

     

  • Adenuga is Businessman of the Year

    Eminent investor, Dr. Mike Adenuga Jr. has been declared the Businessman of the Year by a team of respectable judges at the third Daar Awards which held at the International Conference Centre, Abuja.

    At the event which was graced by an A-list of  government officials, socialites, politicians, captains of industry and entertainers over the weekend, Dr. Adenuga was singled out for honour for his keen ability to spot juicy business ventures miles away and for his record of succeeding where others failed. His citation stated that his oil prospecting firm, Conoil Producing, has the enviable record of being the first indigenous venture  to strike oil in shallow waters while his telecoms business, Globacom, was a network to be reckoned with across the continent.

    Globacom was found to be growing very fast as a result of several attractive and user-friendly packages which offer  a lot of appeal to pre-paid and post-paid  phone users, thus making its services the most accessible and most accessible, thereby qualifying it for the Customer Service Award.

    The citation said Globacom was the first to launch the 4G LTE  network nationwide, offering instant efficient broadband internet to millions of Nigerians at speeds that are several times faster.

    Receiving the awards on behalf of the awardees, Globacom’s Regional Manager, Northcentral, Mr. Kemi Kaka said the awards were a call to greater services. He said he was not surprised that the company was chosen as the best firm in Customer Service and the Globacom’s founder, Dr. Adenuga Jr., who is already a multiple award winner, as the Businessman of the Year.

  • Adenuga hails Awujale at 84

    •Glo chairman backs professorial chair on good governance

    The Chairman of Globacom Limited, Dr. Mike Adenuga Jnr., has congratulated the paramount ruler of the Ijebu, Oba Sikiru Kayode Adetona, on his 84th birthday and second annual Professorial Chair of the Olabisi Onabanjo University (OOU).

    The businessman also announced a donation of N20 million to the Chair on Good Governance for the expansion of frontiers of knowledge and generation of ideas for Nigeria’s development.

    Adenuga, who sent a goodwill message to the professorial lecture at the Adeola Odutola Hall in Ijebu-Ode, Ogun State, read on his behalf by Mr. Folu Aderibigbe of Globacom, described Oba Adetona as a fearless and incorruptible patriot.

    He said the eminent monarch “always speaks truth to power and works tirelessly” for the enthronement of good governance in the country.

    Adenuga said: “Anybody who knows our royal father well would not be surprised that he endowed a professorial chair for good governance. Since infancy, our royal father has been deeply involved in the promotion of good governance in the country. In the over five decades the Awujale has been on the throne, Ijebu has witnessed phenomenal giant strides in all sectors of the economy.”

    The Globacom chairman described the monarch as his “very dear first cousin and family head”.

    He wished Oba Adetona more fruitful years in the service of Ijebu and Nigeria.

    According to him, Oba Sikiru Adetona Professorial Chair lecture is living up to its ideal of generating ideas for the enthronement of good governance and the building of an egalitarian society where no man will be oppressed.

    Adenuga noted that the holder of the professorial chair and lecturer, Prof Ayo Olukotun, is a perfect choice because of his pedigree as a prolific public commentator and for being an erudite scholar of repute.

    The Globacom chairman said the topic for the lecture: Civil Society and Governance in Nigeria’s evolving democracy 1992-2018, was germane.

    During the lecture, Olukotun disagreed with the view that civil society is dead, noting that it is rather in a state of stupor and required re-awakening.

    He urged the society “to find ways of transcending the familiar divisiveness and centrifugal conflicts that bedevil the Nigerian polity”.

     

     

  • Adenuga at 65: Why the gold Digger remains the real Mccoy

    It was around mid-day on June 29, 2012. I was neck-deep in work when the call I dreaded most came through. The pleasantry was unusual, very curt. The voice at the other end advised me to be strong and take it like a man. Even without saying it, I knew instantly I had lost my dad who had been on admission at the Obafemi Awolowo University Teaching Hospital, Ill-Ife. When I visited him one week before his demise, I had a morbid fear he might not make it but I shrugged the thought off and cast my burden on God, hoping that by some strokes of luck, he could pull through.

    He never did. I was completely rattled. The macho man in me melted like a bowl of ice cream under a scorching sun. I wept uncontrollably in the private rest room in my office. Our office assistant, Tosin (who later acquired a university degree and became our receptionist), coincidentally came to my office while I was sobbing. Alarmed, having never seen me in that condition, she asked, “Oga, ki lo se yin” (Boss, what’s the matter?).  The seemingly harmless question triggered even a bigger meltdown. As I attempted to answer her, I burst into a ball of tears and sobbed like a baby. Scared, she dashed out and within what seemed like seconds, my office was bursting at the seams with my colleagues. I hated to be seen in that circumstance but I couldn’t help it. I was an emotional wreck. They consoled me and insisted I must leave the office immediately.

    They arranged for a driver to take me home, insisting I could not drive in that situation. As the driver pulled up in my house about 30 minutes later, my phone rang and it was my Chairman, Dr. Mike Adenuga Jr on the line. I picked the call with a stoic resolve never to give any inclination of the tragedy that just befell me. “Ah. Bode, pele, pele (sorry, sorry, referrencing my loss). What happened? Was he sick? How old was he?, he asked several questions in quick succession. As I answered him, what was racing through my mind was how did he hear about it so swiftly? I remembered him saying sometime in the past that, “the walls have ears. You cannot be in my position and be oblivious of developments around you”. Quite instructive! He assured me he would stand by me all the way and asked me to let him know when the burial arrangement had been firmed up.

    Until we did the burial a month later, Dr. Adenuga, who I fondly called Baba, kept a close tab on the arrangements we were making. He shocked me when he said repeatedly even at official meetings that he would attend the event. Though he eventually did not, he supported me morally and financially. After the event, he asked me to give him the list of all those who supported me financially so that he could say thank you to them. I did not bother him with that but his gesture spoke volume about the genuine heart of a man many had come to love, loathe or dread.

    That was not the first time Dr. Adenuga would go beyond the call of duty to show unfeigned care for either my humble self or numerous other people working for him. In another personal instance, he had asked the trio of Yinka Akande, Celestine Amucha and my humble self to represent him at the commissioning of House of Ovation, Accra in October 2006 as a reciprocal and appreciative gesture to the Ovation Publisher, Bashorun Dele Momodu for his steadfast loyalty over the years.

    Unfortunately, we could not get a flight to Accra as all the flights were fully booked. We decided to go by road. Somehow, Chairman, who Dele Momodu incidentally calls the Spirit of Africa, got wind of our plan. He could not believe that young executives in this era could voluntarily opt to go through such an arduous journey in order to fulfill their boss’ mandate. Right from when we got to Mile 2 to board a public transport till we got to Accra, Dr Adenuga was checking up on us at regular intervals. As if he had a crystal ball through which he was gazing at us (I knew it couldn’t have been any tracking device because back then, Mr. Chairman at best enjoyed using his legendary Nokia Communicator for only calls and text messages until in later years when he added internet browsing), he was calling either by the time we were just reaching or leaving a border point. “You should be at Seme now”, “How is the journey going, are you at Ilaconji now?”, “Are you in Aflao now?”, he kept checking up on us till we got to Accra safely when he finally heaved a sigh of relief and said, “Thank God”.

    How many bosses would send their staff on assignments and keep checking up on them to find out about their safety and welfare? One of his closest aides then, Prince Tunde Akinyera said Chairman was not at ease until he knew we had reached Accra. He knew the route very well, having traversed it severally when he was building his business empire, crisscrossing from Nigeria to Cote d’Ivoire, the headquarters of African Development Bank. Corroborating that, Chairman would share stories of his experience in those days at each of the borders. The most poignant was when he missed the closing time at the Lome-Ghana border on his way back to Lagos by a few minutes. The gendarmes snubbed all his earnest entreaties  and he had to pass the night in his car right at the border crossing.

    What made his gesture more significant was that Dr Adenuga himself was going through his personal travails about this time. He was on self exile after ceaseless harrassments by  Nuhu Ribadu’s Economic and Financial Crimes Commission who we later heard, had the mandate to nail him at all cost.

    Time after time, Chairman showed that he was not a General who would send his men to the war front and go to sleep. I ran several errands locally and internationally for him. More than fifty percent of the time, he would call to find out about one’s welfare and the trip. “Awe o”, he would utter in his rich baritone voice even at 5.30am. “Did you make it to the airport in good time? Safe flight and good luck”, he would say as his signature way of giving one moral support.

    Dr. Adenuga treated me more like his son than an employee. When I wanted to leave Globacom last year to run a family business, Chairman was displeased. Somehow, he felt I would stay with the business longer. However, having spent 14 years supporting in my own little way our much appreciated Chairman’s vision, I pleaded to be excused. Chairman took it harder than I envisaged. Since I made my intention known in April last year until I left in July of the same year, all channels of communication came to a near screeching halt. Knowing that I was not doing anything deliberately to hurt Baba or his business, I stuck to my plan. A few days before my departure from the system, he gave a directive that I should lead a delegation on an international assignment. I carried out the assignment diligently but left as scheduled afterwards.

    Almost one year later, Dr Adenuga reached out to me and said the unthinkable. One of Africa’s richest men apologized for the way the system took my decision to leave. He painted my modest contributions glowingly and asked me to return if I wished. I deeply expressed my gratitude to him for his support over the years.

    He is the quintessential leader with an unimaginable capacity to ride above the storm of the past and reset his relationships with people when he felt the need to do so. Severally, he has recalled or reabsorbed former members of staff who left in the most dramatic circumstances. Some came back voluntarily while he himself reached out to others. For him, it is not about the sentiment but the value the individual has to offer. Yet, there were exceptional instances when he reabsorbed people mainly because he pitied their prevailing circumstances. He epitomizes the deep Yoruba axiom that, “ti a o ba gbagbe oro ana, a o ni ri eni ba sere”, meaning that one needs to banish past disputes into distant memories in order to continually have people to play (or work) with.

    A couple of years back, Dr. Adenuga shared with me the rationale behind some of his actions. He said at the end of the day when everyone would have retired to their respective homes, he would play back the events of the day in his mind and ask himself hard questions, “Am I fair to him/her? Was he/she fair to me?” He said this was a routine he regularly observed in order to set matters right.

    Whoever knows Dr. Adenuga would readily concur that he is a genius who has a memory as sharp as a tack. He only needs to meet you once and if he sees you years later, he would recall every detail about you. When he uploads you with various assignments, you would only have yourself to blame to think he has forgotten any of them. Don’t be shocked if you get a call from his office asking you for an update. That alone is triple-filtered trouble. Chairman wants you to be ahead of him. He will spare no rod if he is always the one “chasing after you” for results. In one of his informal mentoring classes, Dr. Adenuga told me that, “Never rely exclusively on human memory. No matter how sharp, it fails sometimes. As often as possible, once I’m giving someone an assignment, I’m writing it down and posting it somewhere as a stark reminder until the job is done”.

    In his heart, Adenuga has selected some people as his circle of brothers, friends and family. He has taken it upon himself to sort such people out in life. At intervals, he reaches out and takes care of them in a “life-liberating manner” as a popular writer who later joined politics once described his unconventional generous disposition. In that circle are family members, friends, former Presidents within and outside Nigeria, celebrities, traditional rulers, some members of staff and a mixed grill of other people decided exclusively based on his own parametres. This often includes indigent people or people totally unknown to him but who are in dire straits. From the blues (as he did severally), Chairman once called me to find out how a media personality who had been supportive in the past was doing. When I enquired and reverted to him that the person was going through a rough patch, he got his office to send the person a ‘hefty’ cheque in the hope that it would help the person to “fill some holes”. He sets his  standards high and abides by the standards no matter whose ox is gored. He hardly attends functions. His priorities have always been his business and in later years, he has opted to strike more delicate balance between business and family.

    You will never see Dr. Adenuga confronting government even when he has enough reasons to fight. His philosophy is that Nigerian governments are too powerful. As such, any businessman who has too much at stake can only fight a sitting government at his peril. Intrinsically, he has internalized that profound saying amplified by King Sunny Ade’s song, “Ojo ni wa a o b’enikan s’ota, eni eji ri leji n pa (we are raindrops, we bear no grudge against anyone, rain falls on everyone). He is friendly with any government of the day. Much more importantly, he minds his own business. He also has an almost unimpeachable understanding of the political and business terrains of Africa. He has friends in high places across the continent.

    In business, Chairman adopted the famous Michelle Obama philosophy of when they go low, we go high to his investment in oil and gas. About three years ago, the price of oil headed for a free fall in the international market. Discouraged, many big players stopped investing. Several oil rigs which hitheto were hard to come by became readily available. He wasted no time to strike when the iron was red hot, pumping millions of dollars into the business to develop oil fields allotted his company. The gold digger made the right choice. From the $20s per barrel in 2016, the price of oil is now inching nearer the $80 mark in 2018. Talk about vision, wisdom and pressing the hot button at the right moment.

    For over two and half decades, Dr. Adenuga has been digging gold in oil and gas, telecoms, banking, construction and in the process has become the real McCoy, the real deal. In numerous instances, he has made unimaginable successes while on few occasions, things didn’t go quite as well as planned. A man of immense resources and extensive knowledge, he is also ready to admit that he does not know it all. As an imperfect creation, he knows he is not without blemish. He draws substantially from the lessons of his triumphs and shortcomings to shape his actions. As he marks his 65th birthday, one can only wish Dr. Adenuga many happy returns.

     

    • Olabode Opeseitan is the Founding Partner of SA&B Mega Resources.
  • Mike Adenuga remembers mum

    Mike Adenuga remembers mum

    Memories are like an underground river that keeps flowing long after it has stopped showing on the surface. And few memories are as precious as that of a dutiful son of his deceased caring mother. That explains why every June 8, the mind of Globacom boss and one of Africa’s wealthiest men, Mike Adenuga, is occupied by fond memories of his departed mother, Madam Oyindamola Juliana Adenuga.

    Although it has been 12 years since his doting mother passed on, the bond between them remains as solid as a rock. The Globacom chairman does not miss any opportunity to show the world that he still cherishes the memories of his mother.

    If it is true that behind every successful man there is a woman, then Madam Juliana, a disciplinarian and apostle of hard work, proved herself the driving force that ensured Adenuga’s pride of place in the comity of the powerful and influential.

    In appreciation of this, Adenuga has since set aside June 8 of every year to celebrate the memory of her mother as well as that of his father, Pa Michael Agbolade Adenuga, who passed away on June 7, 1979. This year was no exception as a prayer session was organised for the repose of their souls.