If billionaire mogul, Dr. Mike Adenuga Jnr. were a business stock to be traded on the floor of a global Stock Exchange, it would definitely cost a fortune to acquire even a single share. Such is the massive value of the Chairman of Globacom, Nigeria’s second-largest telecom operator with a huge presence in Ghana and Benin.
Little wonder power brokers, captains of industry, friends and associates got together yesterday to celebrate the man fondly called ‘The Bull’ as he clocked 70.
Barely a handful of businessmen can lay claim to the rare distinction of rising to the top of their careers in a lifetime. But Adenuga has a very strong claim to this special class of businessmen by standing heads and shoulders above most of his peers. It is not for fun that he is described as a visionary leader, an exemplary entrepreneur and an outstanding manager of men and resources.
Much as he is admired by all, what is not in doubt is that he never entombs his dream in the face of challenges. Despite the misfortune he suffered with his ICL in the early days of the telecoms industry, he remained unshaken.
Adenuga’s entry into the telecom industry literally provided Nigerians unrestricted access to what was then viewed as a ‘big man’s tool’ when Glo crashed the price of SIM cards, thus making mobile phones accessible to millions of Nigerians.
Adenuga did what was said to be impossible in 2003 when Glo became the first company to launch operations on Per Second Billing. The action truly revolutionised the telecom industry in Nigeria because it came at a period when older networks said it was impossible.
With stakes in the Equitorial Trust Bank and the oil exploration firm Conoil (formerly Consolidated Oil Company), many may be tempted to quickly run to the conclusion that the business turf was laid for him by a benevolent god. In 1990, the then 37-year-old Mike Adenuga was named among 11 Nigerians who were issued licences to participate in the oil and gas industry. He became a millionaire by selling soft drinks and lace materials.
With the sterling badges of honour already acquired, the legacy of Mike Adenuga Jnr. is almost complete.
