THOSE who would literally go insane if they had a tenth of his possessions habitually paint the town red, engaging in perverse, dirty and devious displays of ostentation and causing the downtrodden despondency and despair, but he is literally unheralded in town where, for all practical purposes, he is a purposive recluse living in self-measured spaces of decency that preclude the pitfalls of paparazzi cameras. He is Africa’s fifth wealthiest individual and Nigeria’s second but he is not moved to megalomania by the allure of currency notes. He prefers to measure the impact of his existence on the real, demonstrable change he can make in the lives of vast populations of people; a matchless agent of transformation in a land abundantly blessed but criminally managed by generations of political buccaneers.
That is why, as Nigerians and the rest of the world roll out the drums to celebrate him as a billionaire business mogul with vast interests in real estate, oil and gas, banking and telecoms, investor and consummate philanthropist, we find ample reasons to take a voyage around, and salute, the ennobling institution that he has become as a major pillar of the Nigerian economy and a force for laughter in a land where sorrow and despair have effectively become daily doses. Michael Adeniyi Adenuga Jr (GCON) is such a pleasant song at 70 and we heartily join in singing the tunes. His story is a powerful instantiation of the fact that you do not have to engage in politics to make inerasable, enduring impact in the lives of millions of people. In line with Yoruba lore, Adenuga is a metaphor for Onirese, the calabash carver of unblemished artistry who, should he stop carving calabashes, would still be perpetually honoured because the ones he has already woven are imperishable. His honours and plaudits at 70 have been richly earned.
Born to parents of royal Ijebu descent, Adenuga did not move from the cradle to adulthood robed in garments of luxury. He had to dream his place in the world and fight for it with every fibre of his being. After his secondary school education at Ibadan Grammar School and his Higher School Certificate (HSC) programme at the Comprehensive High School, Aiyetoro, Adenuga actually worked as a taxi driver to help fund his university education at the Northwestern Oklahoma State University, United States, from where he proceeded to Pace University, New York, earning degrees in Business Administration. Yet Ibadan, the land described by JP Clark as “running splash of rust and gold”, holds a special place in his heart till today.
From making his first million at age 26, selling lace and distributing soft drinks, founding Devcom Merchant Bank and Equitorial Trust Bank (ETB), both of which have now dissolved into Sterling Bank Plc, in his 30s; receiving an oil drilling licence in 1990 and, in 1991, having his Consolidated Oil strike oil in the shallow waters of Ondo State as the first indigenous oil company to do so in commercial quantities, Adenuga has come a long way. He was undeterred by the revocation of the conditional GSM licence given to him in 1999; he worked hard to secure a second one when the government held another auction in 2002, floating Globacom, the indigenous telecoms company that has acquired such a huge stake in the emotions, affection and daily existence of Nigerians.
GSM telephony came to Nigeria on the heels of the return to civil rule as a bourgeois, elitist symbol but Adenuga took it straight to the doors of the downtrodden, those who for decades were mere statistics in government documents. He crashed the prohibitive price of the SIM card (above N30,000 at the time); the queues when he told Nigerians that they could own a SIM card for just N3000 was joyously long. Adenuga showed the masses that they, too, could own a GSM line. He further crashed the price to less than N1,000 and brought joy to many homes. Indeed, he is a major factor for the experience today where the SIM card is virtually free.
At a time telecommunications companies were unwilling to charge per second, Adenuga damned the consequences and introduced per second billing to roaring applause by a deeply appreciative populace. His mantra was people, power and possibilities. And when the internet came, no less a personality than Mr. Adams Oshiomhole, ex- governor of Edo State, acknowledged his genius in bringing his home town Iyamho in Edo State, not discernible from the Nigerian map, right into the global digital space. That is actually a story millions of Nigerians can tell. Launched on August 29, 2003, Globacom, now in the Republic of Benin, Ghana and Côte d’Ivoire, has recorded so many landmarks, including championing per second billing and being the first company to implement 2.5 G and 3G networks in Nigeria; being the first to offer 4 G LTE, the first to offer Blackberry solutions and the first to launch submarine cable (GLO 1) providing efficient and fast broadband internet services.
In the last 20 years, Globacom has made a massive difference in the lives of thousands through promos. It has literally catapulted movie stars in Ghana and Nigeria from a life of struggle into a life of luxury, whether as ambassadors or as brand influencers, and helped in the discovery of many music stars through such shows as Campus Storm, Glo Mega Music, Rock ‘n’ Rule, GloNaija Sings, Laffta Fest, X Factor, among others. Music and movie stars across the West African subregion have had life-transforming encounters with the man fondly called The Bull.
Besides, Adenuga has transformed the field of sports with the Glo Soccer Academy, the Glo Golf Tour West Africa and the Glo Marathon, all of which offer phenomenal prizes. After the Super Eagles won the 2013 African Cup of Nations, Adenuga rewarded them with $1 million, gave Coach Stephen Keshi $200,000 and offered to personally pay his salary, as he had that of technical adviser, Berti Vogts. He sponsored the Super Eagles and its supporters club and the domestic leagues of Ghana and Nigeria for years.
Among other laudable gestures, Adenuga donated N500 million to flood victims in Bayelsa State in 2012, and when COVID-19 came calling in 2020, he gave N1.5 billion via the CACOVID Alliance. His sponsorship of key festivals across the length and breadth of Nigeria, including the Ojude Oba Festival and Ofala Festival, is well known, as is the fact that he built the Mike Adenuga Centre in 2019 to deepen the bond between Nigerians and the Francophone countries. Fondly referred to as The Spirit of Africa, Adenuga has literally helped many in the entertainment, public relations, media and manufacturing industries to stay in business.
While he is naturally in business to make profit, Adenuga stands out in his people-centred approach to business. Avoiding the cut-throat charges of his competitors, Adenuga allows even the most economically challenged people free access to the best services, and through this builds a vast network of customers. He is an institution, a great pillar of the Nigerian economy and a distinguished investor in the happiness of many. Although, like all mortals, he has his own fair share of foibles, Adenuga has done enough to be regarded as one of Nigeria’s finest and greatest statesmen. He has blazed the trail where others saw only difficulties. He has impacted a generation outside the pecuniary confines of politics, which he has shunned, and his examplary life is worthy of emulation.
While we join millions of his admirers in wishing him a happy 70th birthday, it is our wish and hope that he will not stop doing those things that have marked him out as a conscientious patriot and a model in industry and humility.
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