Dr. Mike Adenuga Jnr, oil baron, bank
executive and telecoms magnate, has been
voted Nigeria’s most outstanding business
personality in the last 50 years by THISDAY
readers. In an online poll conducted by the
newspaper, the chairman of Globacom
polled 4272 votes to edge out Alhaji Aliko
Dangote who scored 4156. Others are
Paschal Dozie (3316), Michael Ibru (3073)
and Subomi Balogun (2801).
Adenuga etched himself on the
consciousness of Nigerians when his
telecoms firm, Globacom, introduced per
second billing. Other operators had no
choice but to follow suit. He has interests in
real estate in Nigeria and around the globe,
with property all over Western Europe,
North America, and the Middle East.
An astute world class business expert, with
worldwide business interests, Adenuga is a
highly respected entrepreneur and one of
the biggest employers of labour in the
country.
In the last two decades, he has established a
pedigree as a well-focussed and prudent
manager of men and resources with the
ability to successfully transform ideas and
dormant businesses to highly viable
enterprises.
He has founded and successfully run high-
profile companies in the most lucrative
sectors of the economy including
telecommunications, banking, oil and gas.
His foray into banking commenced about
20 years ago when he established two
banks, Devcom Merchant Band and
Equitorial Trust Bank, both of which were
merged to become the Equitorial Trust Bank
during the consolidation exercise of 2005.
In the oil sector, he also achieved a historic
feat in December 1991 by being the first
Nigerian to find and produce oil in
commercial quantities at the Bella field.
Whereas other Nigerians who got oil blocks
sold to foreigners, he took the unusual step
of prospecting for oil, a capital-intensive
adventure.
In 2000, he bought majority shares in the
downstream oil company, National Oil, and
transformed the loss-making company into
a profitable business.
Now renamed Conoil Plc, the company has
been paying dividends to its shareholders
since its acquisition.
Adenuga became a household name
following his establishment of the Glo brand
and his focus on Nigeria and Nigerians as
the heartbeat and driving force of the
company’s competitive stance, as captured
by its “Glo with Pride” and “Rule your
world” slogans.
It is the opinion of many that Adenuga has
infused pride in Nigerians through the
achievements of Globacom and Glo Mobile,
which are currently operating mobile
telecoms services in three countries and
gateway services in four.
The company’s Glo 1 $1 billion submarine
cable with enormous bandwidth capacity
and connections to over 17 countries in
Africa and Europe is another landmark
achievement that has deepened the pride
and enhanced the image and reach of
Nigeria internationally.
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