The Nigerian classification of being successful covers the way an individual makes his wealth and his spending style. It is because many rich individuals have made their wealth from wise and profitable investments but have a poor spending lifestyle.

But the case of Otunba Mike Adenuga can be said to be one that shows how to diligently invest, make fortunes and judiciously spend it.

Otunba Mike Adenuga is the second richest billionaire in Nigeria and fifth in Africa based on the Forbes’ Africa billionaires list of 2018.

He is presently worth $5.2 billion.

How he makes his wealth – Businesses and Investments

Otunba Mike Adenuga made his first major fortune at age 26 years for dealing in importation of lace and other clothing materials in 1970. Adenuga gave details of how he started the business of importing and distributing lace in Nigeria.
Aliko Dangote is Africa’s richest man for 2018, as Econet’s founder joins the billionaires' club play

Aliko Dangote is Africa’s richest man for 2018, as Econet’s founder joins the billionaires' club (Forbes)

“I went on a trip to New York and when I was coming back, I missed my flight, doing on British Airways. So I had to fly Swiss Air and I sat next to the owner of one of the biggest lace manufacturing factories in Austria. So, we were talking and he got me into the business of importing lace, and all sort of things.”

Contract from the Military government

During the regime of Ibrahim Babangida, Mike was awarded contracts to build military barracks and buy some military installations.

General Ibrahim Babangida Rtd described him as a good and loyal friend.

Oil and Gas Business

Adenuga ventured into oil & gas business in early 90s when the then minister of petroleum. Prof. Jubril Aminu came up with the policy of giving licenses to individuals and encourage private sector participation in the sector. Mike Adenuga was one of the beneficiaries of this policy.

His oil exploration company, Conoil Producing Limited, is currently operating six oil blocks in the Niger Delta.

Banking & Telecommunications Business

President John Mahama of Ghana (right) to Dr Mike Adenuga Jr: Congratulations for being a worthy son of Africa play

President John Mahama of Ghana (right) to Dr Mike Adenuga Jr: Congratulations for being a worthy son of Africa (Globacom)



In August 2003, Adenuga started the first indigenous GSM telecommunication Nigeria, Global Communications Limited (Globacom). At present, his telecom business has expanded into other West African countries - Republic of Benin, Ghana and Côte d'Ivoire.

In Nigeria, Globacom is the second largest telecom operator with about 37 million subscribers.

Also, Adenuga established a commercial bank known as Equitorial Trust Bank (ETB). At present, the bank has merged with Sterling Bank Plc.

So developers are not part of it ?

Op did you know that Adenuga is reacher than 12 glorified multi billionaire in some region ?



Op in short Adenuga is equivalent to all the rich men from that region

^^^ The ewedu-munching skunk above is trying to divert attention the atrocities of his fula masters.

THA MAN NA VERY RICH MAN O.

sarrki:
Op did you know that Adenuga is ""RICHER"" than 12 glorified multi billionaire in some region ?



Op in short Adenuga is equivalent to all the rich men from that region

""Check!

sarrki:
Op did you know that Adenuga is reacher than 12 glorified multi billionaire in some region ?



Op in short Adenuga is equivalent to all the rich men from that region

You know,it will be so cruel and unjust if you pass on your stupidity gene onto your children.

They don't deserve this level of stupid. Therefore, let it die with you.

sarrki:
Op did you know that Adenuga is reacher than 12 glorified multi billionaire in some region ?



Op in short Adenuga is equivalent to all the rich men from that region

Dey there.
at least 10billionaire dey every village in anambra. And they will dwarf adenuga money into pieces #fact
Not to talk of abia o

ArodeTsolaye:
^^^ The ewedu-munching skunk above is trying to divert attention the atrocities of his fula masters.

In Sami Zayns Voice; "Triple Check"!

sarrki:
So developers are not part of it ?

Vagina Scrapers, Vein Extractors, Blood Distillers, Skull Miners, Heart Exhumers and Pennis Excavators hiding behind Telecommunications and Oil as source of income. But we know their real sources of income.

Too many tribalistic fools on this forum.... make good money and enjoy what life has to offer not all this stupid arguments and unjust hatreds

Click like if u think d op is missing the main point.


We all know how adenuga made his wealth through fraudulent means under past governments.

So op, drop the main point and stop beating around the bush with all these fable stories.

sarrki:
Op did you know that Adenuga is reacher than 12 glorified multi billionaire in some region ?



Op in short Adenuga is equivalent to all the rich men from that region

You can't even spell properly, people of low intellectual capacity like you always resolve to whipping up irrelevant issues that have no correlation to the subject matter.