Biography OF Mike Adenuga Nigeria’s Second Richest Man




Mike Adenuga Jr was given birth to on April 29, 1953. He is the Nigerian Chairman Chief Executice Officer of Globacom. He is considered the second richest man in Nigeria.

Adenuga ascend to wealth and associated popularity is an interesting story. His resolve to succeed despite all odds started when, while in United states of america, he worked as a taxi cab driver and security guard to support himself at university.

Born on April 29, 1953, Michael Adeniyi Isola Adenuga got his secondary school education at the Ibadan Grammar School, Ibadan, Oyo State, before proceeding to the North-Western University in Oklahoma and Pace University, New York, both in the usa where he studied business administration.

At age 26, Adenuga became a millionaire with connections in high places. With his unique flair for risks and absolute tenacity of purpose, quickly he started making profits in billions of dollars. He is the owner Equitorial Trust Bank and Consolidated Oil, which performs crude oil drilling, refining along with marketing.

His 1st shot into the consciousness of Nigerians was when his company, Consolidated Oil became the first indigenous company to strike crude in December 1991. He lately venture into the telecommunications market. With his Communications Investment Limited, CIL, he was issued a conditional licence in 1999 and frequencies to operate the Global System of Mobile Communications (GSM). The licence was later revoked. Once again, when in 2002, the government through the Nigerian Communications Commission (NCC), organised new auction for the GSM licence, the CIL participated and was one of the four that won the bid. He paid the $20 million mandatory deposit.  

Mike Adenuga, Nigeria’s second richest man, has investments in mobile telecom and oil production. In 2003, he founded Globacom, which has more than 27 million subscribers in Nigeria, making it the second largest mobile phone network in the country after South African giant MTN. It also serves customers in Ghana and Republic of Bhenin. Adenuga is the founder of oil exploration firm Conoil Producing, which operates 6 oil blocks in the Niger Delta; about half of which produce oil. Adenuga made his first fortune trading lace and Coca-Cola after returning from his studies in the United States. He made key friendships with top Nigerian military personnel and earned lucrative state contracts along the way.



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