Mike Adenuga at 67: 20 things to know about Nigeria's second richest man

Mike Adenuga at 67: 20 things to know about Nigeria's second richest man

Dr Michael Adeniyi Agbolade Ishola Adenuga, popularly known as Mike Adenuga Jr, one of Nigeria's foremost businessmen and top billionaire, clocks 67 years today, Wednesday, April 29.

As Adenuga celebrates his 67 years on earth today, Legit.ng presents top 10 facts to know about one of the Forbes rated billionaires in Africa.

Background

1. Adenuga was born on the 29th of April, 1953 in Ibadan, Oyo state, to the family of Micheal Agbolade and Omoba Juliana Oyindamola Adenuga

Mike Adenuga at 66: 20 things to know about Nigeria's second richest man

Dr Mike Adenuga Jr, Nigeria's second richest man
Source: Depositphotos

Education

2. The business mogul received his secondary school education at the popular Ibadan Grammar School, Ibadan

3. For his Higher School Certificate, he attended Comprehensive High School, Aiyetoro

4. For his tertiary education, Adenuga graduated from Northwestern Oklahoma State University and Pace University, New York, where he bagged degrees in Business Administration.

Career

5. Adenguga's first job experience was when he finished his secondary education. He briefly worked as a taxi driver to help fund his university education

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6. The Nigerian billionaire made his first million at age 26 selling lace and distributing soft drinks

7. In 1990, the business mogul began his journey to financial greatness in Nigeria's oil sector as he received a drilling license

8. By 1991, his company (Consolidated Oil) struck oil in Ondo state; it was the first indigenous oil company to do so in commercial quantity

9. As a great businessman, Adenuga diversified into Nigeria's telecommunication sector in 1999 and secured a conditional GSM licence in the same year. His diversification to the sector birthed Globacom

10. Globacom spread quickly and beat others already on the scene by kicking off per-second billing in Nigeria even though other operators claimed it was not possible in many years. Adenuga also demystified SIM card acquisition by distributing them free to customers when Globacom entered the market. According to Forbes, the company is now the second-largest operator in Nigeria, with 50 million subscribers.

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11. By 2008, Adenuga, with a pan-African business sense, had started spreading his telecommunication company to other parts of the continent. Globacom is now present in Benin Republic, Ghana and Côte d'Ivoire.

12. Adenuga's oil exploration outfit, now named Conoil Producing, operates 6 oil blocks in the Niger Delta, according to Forbes

Mike Adenuga occupies the third spot in the Forbes' 2020 list of Africa's billionaires and 286th position on the magazine's World's billionaires' 2020 list

Mike Adenuga occupies the third spot in the Forbes' 2020 list of Africa's billionaires and 286th position on the magazine's World's billionaires' 2020 list
Source: UGC

13. The self-made business mogul, who is now ranked the second richest man in Nigeria, built his fortune mainly in the telecom sector and in oil production

14. His real-time net worth at the time of compiling this report is $5.8 billion, according to Forbes

15. Adenuga occupies the third spot in the Forbes' 2020 list of Africa's billionaires and 286th position on the magazine's World's billionaires' 2020 list

16. The businessman showed his philanthropic and patriotic spirit when he announced on Monday, March 30, a donation of N1.5 billion as his contribution to the fight against coronavirus in Nigeria.

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Adenuga's donation is the highest amount so far contributed by any Nigerian citizen in the effort to end the pandemic in the country.

Marital status

17. Adenuga is married and blessed with seven children

Mike Adenuga at 66: 20 things to know about Nigeria's second richest man

Dr Mike Adenuga Jr with the President of France, Emmanuel Macron. Photo credit: Ovation Magazine
Source: UGC

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Honours/Awards

18. In 2012, Adenuga was honoured with the Grand Commander of the Order of the Niger by the Nigerian government

19. The billionaire business mogul also holds a Yoruba chieftaincy title as the Otunba Apesin of the Ijebu clan

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

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