Chief Michael Adeniyi Agbolade Ishola Adenuga Jr., born on April 29, 1953, in Ibadan, Nigeria, is a testament to resilience and entrepreneurial spirit. From humble beginnings, he rose to become one of Africa’s most influential business magnates, with ventures spanning telecommunications, oil, and banking.
Adenuga’s father was a schoolteacher, and his mother, a businesswoman of royal Ijebu descent. He attended Ibadan Grammar School and Comprehensive High School, Aiyetoro, before pursuing higher education in the United States. To fund his studies, he worked as a taxi driver. He earned degrees in Business Administration from Northwestern Oklahoma State University and Pace University in New York .
At 26, Adenuga made his first million by selling lace and distributing soft drinks. In 1990, he founded Consolidated Oil (now Conoil), becoming the first Nigerian to strike oil in commercial quantities in 1991 .
In 2003, he launched Globacom, Nigeria’s second-largest telecom operator, known for affordable data and call plans. Globacom has expanded to Ghana, Benin, Côte d’Ivoire, and Togo .
Recognition and Honors
Adenuga’s contributions have earned him several accolades:
▫️Grand Commander of the Order of the Niger (GCON) by the Nigerian government in 2012 .
▫️Commander of the Legion of Honour by French President Emmanuel Macron in 2018.
▫️Named African Entrepreneur of The Year at the first African Telecoms Awards in 2007.
As of May 2024, Forbes estimated his net worth at $6.7 billion .
Known for his reclusive nature, Adenuga holds the Yoruba chieftaincy title “Otunba Apesin of the Ijebu clan.” He is married and has seven children, including Bella Disu, who plays a significant role in his business empire .
Adenuga’s journey from a taxi-driving student to a billionaire entrepreneur serves as an inspiration, highlighting the impact of determination, innovation, and strategic vision.
© Izon Daily News
