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Adenuga turns 55

Posted by By Sun News Publishing on 2008/04/23 | Views: 768 |

Adenuga turns 55


Foremost African businessman, Dr. Mike Adenuga Jr. (CON), turns 55 years old on April 29. The multi-billionaire entrepreneur, who was born in Ibadan, Oyo State on April 29, 1953 sits atop a vast business empire described as one of the biggest in Africa.

Adenuga turns 55

Wednesday, April 23, 2008


•Dr. Mike Adenuga Jr.
Photo: Sun News Publishing
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Foremost African businessman, Dr. Mike Adenuga Jr. (CON), turns 55 years old on April 29. The multi-billionaire entrepreneur, who was born in Ibadan, Oyo State on April 29, 1953 sits atop a vast business empire described as one of the biggest in Africa.

His business interests span oil and gas, telecoms, aviation, banking and real estate.

His several companies provide direct employment to thousands of Nigerians, while millions of others ply their trade in businesses that depend on Adenuga’s ventures.
Dr Adenuga cut his academic teeth at the famous Ibadan Grammar School, Ibadan and further honed his intellectual skill at the Northwestern State University in the United States .

Reputed for his strong business acumen, resourcefulness, hardwork and sheer tenacity, Adenuga has recorded phenomenal successes in his business endeavours, plunging into areas considered by many as too risky for investors and recording resounding successes. His company, Consolidated Oil, was the first Nigerian company to strike oil and produce it in commercial quantity.

During the privatization programme of the Federal Government, he also made a bold move when nobody was willing to touch the then National Oil, which was a national asset heading for the history books. He bought over the company, re-branded it Conoil Plc, and within the first year turned its fortune around into one of the most profitable oil marketing companies on the continent. Conoil is today the biggest independent oil producing and marketing company in Nigeria .

Dr. Adenuga’s most revolutionary accomplishment was his decision to have a strong stake in the telecommunications industry, beginning with Nigeria .

The launch, in 2003, of Globacom, Nigeria’s first national brand with an international outlook, was a landmark in the sector as it freed Nigerians from the shackles of high cost of telephony with the per second billing platform, which other existing foreign operators had ruled out.

The respected businessman has taken this monumental feat beyond Nigeria with the foray of Globacom into Benin Republic and is working round the clock to plant the brand in Ghana, Togo and other West African countries.

Dr Adenuga’s pedigree as an astute businessman has attracted him acclaim from respected figures across the globe.
Ghanaian President, John Kuffour, last year described him as Africa ’s number one businessman. He is also a recipient of national honours from different countries.

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