Mike Adenuga: Biography and net worth

money richest nigeria forbes dangote otedola folawiyo danjuma ovia adenuga orji otudeko

In the previous post, a lot was said about the richest man in Nigeria, Aliko Dangote. More light will be shed on the life of the second richest man in Nigeria. He is a famous businessman, entrepreneur, investor, and a philanthropist. He is the owner of Globacom and Conoil, his name is Mike Adenuga.


Micheal Adeniyi Agbolade Ishola Adenuga popularly known as Mike Adenuga was born on April 29, 1953, in Ibadan, Nigeria. His father, Oloye Adenuga was a school teacher and his mother Oyindamola Adenuga was a businesswoman. Mike Adenuga attended Ibadan Grammar school before he went to Aiyetoro comprehensive high school. He obtained his university degree at Northwestern Alva Oklahoma state university and pace university in New York. After that, he received his MBA in business administration. You may e surprised to know that Mr. Adenuga once worked as a taxi driver and a guard during his days as a student.

He returned to Nigeria at the age of 26 just after his studies in the united states. Immediately after his return, he started working at a sawmill that belonged to his late mother. Mr. Adenuga associated himself with a lot very powerful people in the country. Most of them were high-ranking military officials. In 1990 at the of 37 years old, he got a drilling license through the former military president, Ibrahim Babaginda. oil production in the shallow waters of the southwestern state of Ondo state started soon after the license was gotten in 1991. He is the first Nigerian to explore crude oil on an industrial scale. This exploration license was used to build one of the biggest oil-producing companies.

Mike Adenuga is married to Titi Joyce Adenuga. The couple has a daughter from the marriage named Bella. He is known to be in a relationship with a number of women. He has seven children and their names are:

Ms. Adetutu Oyindamola Emilia
Eniola ‘EnnyBoy’
Folashade ‘ShadyGirl’
Adeniyi ‘NiyiBoy’.
Prince Michael ‘Bobo ‘Babajide
Tunde ‘Paddy’Abolade
Abimbola Beenu
Belinda ‘Bella’ Olubunmi Ajoke

Net worth

Needless to say, Mike Adenuga is one of the greatest risk takers in the world. He ventured into telecommunications in 1999 at a time when telecommunications was first introduced to the country. Where and when other investors wanted to experiment and take observations, he nose-dived into it. He got a GSM license which was later revoked, got a second license in 2003 but the government auctioned it out again. Then he founded Globacom in 2006, which now has 30 million subscribers.

Globacom services are also available in Benin, Ghana, and Ivory Coast. Globacom became an official sponsor of Manchester United, one of the greatest clubs in England in November 2009. Mike Adenuga has a multi-billion dollar investment in real estate. His company has provided a lot of jobs for Nigerians. He once owned a commercial bank called equatorial trust bank but it was later taken over by Sterling bank on August 11, 2011.

Mr. Adenuga was valued at 4.6 billion dollars in 2012 according to Forbes. Six years later, he is estimated to be worth over 5.3 billion dollars and you can bet your bottom dollar that he does not plan on stopping there.


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Author: BF

light sleeper, heavy dreamer.

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