Early Life and Education
Mike Adenuga was born on April 29, 1953, in Ibadan, Nigeria. His father was a schoolteacher, and his mother was a businesswoman of royal descent. He attended Ibadan Grammar School and Comprehensive High School, Aiyetoro. To fund his education, he worked as a taxi driver. He graduated from Northwestern Oklahoma State University and Pace University, with degrees in Business Administration.
Rise to Success
Adenuga's entrepreneurial journey began early. He made his first million at age 26 by selling lace and distributing soft drinks. In 1990, he received a drilling license. In 1991, his company, Consolidated Oil, struck oil, becoming the first indigenous oil company to do so in commercial quantity. He later obtained a GSM license in 2003 and launched Globacom.
Key Business Strategies
Adenuga's business strategy involves diversification across industries, including telecommunications, oil and gas, banking, and real estate. Globacom's per-second billing system revolutionized the telecom industry in Nigeria. He also built Glo-1, a submarine internet cable. Through Conoil, he has a significant stake in the aviation fuel market.
Philanthropy
Adenuga is known for his philanthropic activities. He established the Mike Adenuga Foundation to support social and economic development across Africa. The foundation focuses on entrepreneurship, education, health, and rural development. During the COVID-19 pandemic, Adenuga donated N1.5 billion to combat the virus. His philanthropy includes scholarships and support for various educational and religious institutions.
