Dr. Mike Adenuga
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10 Things You Didn’t Know About Mike Adenuga and His Massive Business Empire

Dr. Mike Adenuga is one of the most inspiring businessmen not just in Africa but across the world. He has over the years built a thriving business empire from the ground up, and today, he is one of the wealthiest individuals in Africa.

However, despite his wealth and numerous feats, he is one who seems to consciously shy away from the public eye and maintains a rather low profile which is a safe haven of sorts for his personal and business operations.

According to Statista, Dr. Adenuga is currently the sixth richest man in Africa with a net worth in excess of $5.8 billion, but there are those who say that rankings do not do any justice to the Nigerian billionaire, whom they claim is the wealthiest man in Africa based on his cash liquidity.

These critics claim that ratings of the wealthiest people on the planet are always carried out based on stock market figures and performance – which has numerous limitations. Moreover, they argue that the challenges and inaccuracy of stock exchange figures in Africa affect the ranking of business people like Dr. Adenuga.

You are familiar with the likes of Aliko Dangote of Dangote Group and Abdulsamad Isyaku Rabiu of BUA Holdings, but how well do you know Dr. Mike Adenuga? Below are ten things about the Nigerian billionaire and his massive business empire you didn’t know. Check them out!

10 Things You Didn’t Know About Mike Adenuga

  1. Mike Adenuga was the first Nigerian to discover oil in Commercial quantity. The businessman has been drilling oil in Nigeria since 1991, and he currently owns about ten oil wells, as well as Conoil, his only publicly quoted company that operates both upstream and downstream with substantial gas reserves.
  2. Mr. Adenuga is the sole owner of Globacom. In the entire continent, he is the only one that operates a telecommunications company solely owned by one man. He also single-handedly financed the construction of submarine cables from Europe to Africa.
  3. Dr. Adenuga is the owner of Devcom Merchant Bank and Equitorial Trust Bank, which Sterling Bank PLC recently acquired. He is also one of the largest shareholders in Sterling Bank and First Bank of Nigeria.
  4. He is one of the most prominent Real Estate owners in Africa. His property portfolio, both in Africa and across the globe, is second to none. He also has significant shares in Julius Berger Nigeria Plc, the largest Construction conglomerate in the country.
  5. Dr. Mike Adenuga’s hostile business takeover in May 2015 enabled him to purchase Ivorian mobile telecommunications company Comium Côte d’Ivoire for $600 million.
  6. Through his many companies and business operations, Mr. Adenuga is one of the largest employers of labour in Nigeria and Africa.
  7. Fondly referred to as “The Spirit of Africa,” Mike Adenuga is one of the most prominent philanthropists in Africa. Through the renowned Mike Aenuga Foundation, he continues to impact the lives of millions of people and is credited with being the biggest supporter of the Nigerian entertainment industry through the unique Glo brand ambassador initiative.
  8. To fund his university education abroad, Mike Adenuga worked as a Taxi driver and was able to see himself through school and bag a Bachelor’s Degree in Business Administration from Northwestern Oklahoma State University and Pace University.
  9. Dr. Mike Adenuga was the first in Nigeria to receive the African Entrepreneur of the Year award in 2007.
  10. In 2012, Mike Adenuga was appointed as the Grand Commander of the Order of Niger (GCON) at the 2012 National Honours Awards in Abuja by then president of Nigeria, Goodluck Ebele Jonathan.

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