patriotism.
A Tribute @ 73: Three things that stand Dr. Mike Adenuga out as an exceptional Nigerian
By Liliian Chinasa Orlando
When Nigerians were in tight rope and were paying through their nose to access some foreign-dominated sectors that had been milking the citizens dry, come Dr Mike Adenuga, who came with a strong capacity to break the jinx hitherto seen by many as impossible.
Through him three things were proven: First, indigenous firms can crack capital-intensive sectors like oil and telecom. Secondly, pricing disruption can democratize access for millions. And thirdly, wealth means more when it builds platforms for others.
These proven engineered the steel-like mind set that has driven the successes of Dr Mike Adenuga business philosophy, thus, it has made him more successful in all his ventures that include but not limited to the following:
Conoil Producing: Upstream exploration and production. One of Nigeria’s largest indigenous E&P companies.
Conoil PLC: Downstream marketing with 400+ filling stations nationwide. Listed on NGX.
This broke the monopoly of foreign multinationals and proved local capacity in capital-intensive oil.
Telecom Revolution: The coming of Globacom.
The 1999 Setback. He paid whopping $20M for a GSM licence via Communications Investment Ltd, but it was revoked by the Obasanjo government. Lost the deposit.
But someone to be discouraged, he made a comeback in 2002, when he Won the Second National Operator (SNO) licence for $200M with Globacom Ltd. Reportedly paid the $180M balance 35 minutes before deadline.
By August 29, 2003, Glo Mobile had been launched, resulting in the disruption of the telecommunication market overnight. With the launch, he subsequently introduced Per-second billing; a system competitors tagged an impossible feat to achieve. But Glo did it, forcing the rivals, MTN & Econet to follow within weeks.
Glo, through the founder, Mike Adenuga, crashed entry costs: this means that SIM cards dropped from ₦20,000-₦25,000 to affordable levels.
For all these impossible innovations in the telecom sector, Nigerins paid him back with massive appreciation by subscribing to Glo network. This identification resulted in aggressive rollout, where over 1million subscribers were recorded in 9 months in 87 towns, thereby giving the company a whopping ₦120 billion revenue in just one year of hitting the market.
Mike Adenuga didn’t relent on the little achievements recorded so far, rather it was such achievements that prodded him to consolidate more in the ever-expandding sector.
So, in 2011, Glo-1 Cable, was lunched. This is the first wholly African-owned submarine cable; costing the company $800M, that runs through 9,800km from UK to Nigeria. This feat gave Nigeria and other West African countries, direct, cheaper bandwidth, which eventually cut reliance on foreign carriers.
Today, Adenuga’s Globacom has become Nigeria’s 2nd largest operator with 60M+ subscribers, operating in Ghana, Benin, Côte d’Ivoire, with a nick name of “Grandmaster of Data”.
Dr Adenuga’s business ingenuity does not stop stop with Globacom, as he had other business Interests that include,
Banking: Major stake Sterling Bank.
In real estate sector, he has a significant property portfolio in Lagos, Abuja, London.
In Aviation sector Dr Adenuga has many private jets, that run aviation services for both domestic and international purposes.
Forbes consistently ranks him among Africa’s top 5 richest, with wealth built primarily in Nigeria.
His business style cannot be divorced from his personality. With moniker nick name of “The Bull”, this signifies his relentless, calculated risk-taking approach in doing business.
Dr. Mike Adeniyi Adenuga Jr., GCON, was
born in April 29, 1953 in Ibadan, Oyo State, Nigeria. His father: Oloye Michael Agbolade Adenuga Sr.was a schoolteacher, while his mother, Chief Mrs. Oyindamola Adenuga, was a prominent Yewa businesswoman who traded in textiles.
He attended Ibadan Grammar School and Comprehensive High School, Aiyetoro. For university, he moved to the U.S. where he personally funded himself by driving taxis and working as a security guard. He earned a B.Sc in Business Administration from Northwestern Oklahoma State University, and an MBA from Pace University, New York, all in United States of America.
In his return to Nigeria in the late 1970s, he started trading in lace textiles, and distributing soft drinks like Coca-Cola. By age 26, he’d made his first million dollars – displaying the risk appetite and trading instincts that became his trademark.
By 1990, Chief Adenuga received an oil prospecting license from the Nigeria military president, General Ibrahim Babangida’s administration, signalling the purveyor that made the company, Consolidated Oil to struck oil in 1991, in shallow waters of Ondo State – becoming the first indigenous Nigerian company to discover oil in commercial quantity.
Today, Consolidated Oil has expanded to include Conoil Producing, a upstream exploration and production; one of Nigeria’s largest indigenous E&P companies.
There is also Conoil PLC, a downstream marketing company with over 400 filling stations nationwide. Conoil PLC had listed on Nigeria Stock Exchange. This feat broke the monopoly of foreign multinationals and once again proved local capacity in capital-intensive oil.
Through the Mike Adenuga Foundation, Dr Adenuga supports many people by giving extensively. He has also endowed Mike Adenuga Professional Chair at University of Lagos, funds scholarships for indigent students and donates to buildings/facilities to schools.
In the health and disaster Relief, he remains one of the major donors during the COVID-19. He has equally touched lived through his donations to foods disaster victims, and to other national emergencies, which included funding medical outreach programmes in Nigeria and beyond.
Other areas Dr Adenuga has shown significant large heart include sports and culture sectors. Through his company, Glo, he sponsors Glo CAF Awards, and also sponsored Africa’s top football awards for 11 years.
His Glo company remains the major sponsor of Nigerian Super Eagles and league.
The country’s Nollywood, music, and cultural festivals cannot be what they are today without the massive sponsorship they had received from Dr Mike Adenuga, making many of these sports, music and Nollywood legends Glo Ambassadors.
In his home town of Ijebu-Igbo, and other neighboring communities, Dr Adenuga has shown indelible mark through the provision of Infrastructure projects. These are done through quiet interventions for individuals – medical bills, school fees.
Therefore , it is in recognition of his outstanding works in the country, Africa and the world at large that Nigerian government bestowed on him the country’s 2nd highest national honour, the Grand Commander of the Order of the Niger, GCON. He was also recognized by government of France by honouring him with Chevalier de la Légion d’Honneur, that country’s highest honor in 2018.
Ghana also bestowed on him the Companion of the Star of Ghana, a national honor.
He was also honoured with African Entrepreneur of the Year, for many times.
Dr. Mike Adeniyi Adenuga Jr., GCON is married with children. He maintains a low profile.
At 73, he remains Executive Chairman of Globacom and Conoil Producing. Divides time between Nigeria, London, and France.
From taxi driver in New York to telecom tycoon, his story is Nigeria’s case study in homegrown capitalism.
Happy birthday, Sir.
patriotism.
Jonathan, Diri, Others Eulogise Former Bayelsa Military Administrator Edor Obi at Father’s Funeral
By David Owei
Former President of Nigeria, Dr. Goodluck Jonathan, and Bayelsa State Governor, Senator Douye Diri, have praised the former Military Administrator of the state, Lt. Col. Paul Edor Obi (Retd.), for his role in guiding Bayelsa through a critical period of its history.
Dr. Jonathan and Governor Diri gave the commendation over the weekend at the funeral of Obi’s father, Pa Sir Benedict Apie Obi, held at Okubuchi-Irruan in Boki Local Government Area of Cross River State.
The former President, who acknowledged Edor Obi’s discipline, calmness and friendly disposition, commended him for maintaining his relationship with Bayelsa and its people after leaving office in 1999.
Jonathan described the funeral as a celebration of the life of Pa Benedict Obi, who died at the age of 100, and prayed for longevity and good health for members of the bereaved family.
Jonathan said, “One unique attribute that Colonel Obi has, he must have gotten it from the father: discipline, calmness, friendliness, very friendly person.
“With that kind of calm disposition, peaceful nature, and friendly disposition, he was able to manage the very tense situation in the state, conducted the election peacefully and managed us until he handed over to Chief Alamieyeseigha.”
Represented by the Deputy Governor, Dr. Peter Akpe, Governor Diri said Obi occupied an enduring place in Bayelsa’s history, having served as Military Administrator between July 1998 and May 1999 and handed over power to the state’s first elected governor, Chief Diepreye Alamieyeseigha, on May 29, 1999.
Governor Diri also commended Obi for maintaining his ties with Bayelsa after leaving office, describing the Obi family as one with which the state shared a historic bond.
He said the late Pa Benedict Obi’s 100 years of life provided another reason to celebrate the values that produced a son who served the state at a critical moment in its history.
The governor while extending the condolences of the Government and people of Bayelsa, expressed hope that the legacy of the deceased would continue through his children and the values he transmitted to succeeding generations.
His words: “Bayelsa State does not come to Okubuchi Irruan as a stranger. We come as a people with a historic bond with this family.
Papa’s distinguished son, Lt. Col. Paul Edor Obi, served Bayelsa State as Military Administrator at a particularly delicate period in the history of our dear state and our nation.
“Although his tenure was relatively brief, he was entrusted with the weighty responsibility of maintaining stability in a young state at a time of considerable tension across the Niger Delta.
“To live for one hundred years is a rare gift from God. To fill those years with service, industry, leadership and faith is rarer still. Pa Sir Benedict Apie Obi answered the call of his country as a soldier during a difficult period in our national history. After his military service, he returned to the land and distinguished himself, creating opportunities and livelihoods for many.”
Also speaking, the Cross River State Governor, Senator Bassey Otu, represented by the Speaker of the House of Assembly, Rt Hon. Elvert Ayambem and the Deputy Governor of Ebonyi State, Princess Patricia Obila, all eulogized the late Pa Benedict Obi for his contributions to his community and the nation.
Speaking on behalf of the family, Lt Col. Paul Obi (Retd), thanked the Bayelsa Government, Dr. Jonathan and other members of the delegation for identifying with his family, saying the presence of several former officials who served under his administration reflected his enduring relationship with the state.
The former military administrator said he regarded himself as a citizen of Bayelsa despite being from Cross River State by birth.
Dignitaries who accompanied Dr Peter Akpe to the funeral ceremony included the former Bayelsa State Deputy Governor, Rear Admiral Gboribiogha John Jonah (Retd), Leader of the state House of Assembly, Rt Hon. Monday Bubou-Obolo, Chief Whip, Hon Michael Ogbara, the paramount ruler of Oloibiri Clan, King Amalate Turner, his Atissa counterpart, King Victor Awala, former Chief of Staff, Government House, Yenagoa, Lady Grace Fiepere, among others.
patriotism.
Four Rescued, One Feared Dead as Uncompleted Building Collapses in Enugu* _…Developer’s representative in police custody_
By our Correspondent
In a bid to rescue victims of building collapse, Rescue and emergency workers in Enugu, on Sunday, rescued four persons trapped in a partially collapsed uncompleted hotel construction site, while one person is feared dead.
The four-storey building situated at Independence Layout, Enugu, was said to have collapsed early on Sunday morning, a development residents, who rushed to the scene, said could have been worse but for the regulatory interventions of the state government in sealing the site.
Speaking to newsmen at the site, the Executive Chairman, Enugu Capital Territory Development Agency (ECTDA), Barr. Uche Anya, said it was a case of one of the recalcitrant developers who failed to comply with building codes.
Anya said ECTDA had taken regulatory action by sealing the site, which was approved in 2021.
“This property collapsed in the early hours of the morning. We arrived here around 6am. When we arrived, we met one of the securitymen, who said that six people slept in the uncompleted property, but one of them was not around when the incident occurred.
“So, the government emergency services arrived, and we started rescue operations. Four people, right now, are in the hospital receiving treatment as we speak. I believe there could be one more person in there, and that is why you see all this rescue effort ongoing.
“Meanwhile, this property was approved in 2021 before the advent of this administration. But usually, we have a habit of stocktaking, checking on every construction at every stage. When I personally led the team that inspected here, we found out that there were serious integrity issues and non-compliance with their 2021 approval.
“I personally issued the first ‘stop work order,’ which, due to the violation, resulted in our sealing the place over the last six months.
“So, I think within the last 30, 40 days, the representative of the owner, whom they say lives abroad, has been interfacing with us to remedy the situation. This is the process that we are still trying to interface on, and it came down.
“By the way, I have handed the representative to the police, not necessarily for detention, but to help with the investigation. But this is really a very unfortunate situation,” he explained.
Also speaking to reporters, the Director, Enugu State Fire Service, Engr. Okwudiri Oha, commended the swift response by the Red Cross, Enugu State Emergency Management Agency (SEMA), ECTDA, the Enugu State Ambulance Services, National Emergency Management Agency (NEMA), the Police, Nigeria Security and Civil Defence Corps, and the mobilisation of adequate rescue equipment such as bulldozers and excavators, which ensured the rescue of four persons.
“As a rescue officer, what we did was to ask the security man how many people are here. He said that there were supposed to be six. One person had left before it happened.
“So, we were able at that initial time to rescue four persons. Out of the four, two sustained minor injuries and they were all rushed to a health facility for proper checks.
“Then, as you have seen, we have been working. The last person we just recovered was the fifth person. It is when you get to a health facility that you know whether he is still alive,” he stated.
NEMA Information Officer in Enugu, Mr. Ezeani Nnanyelugo, who confirmed the numbers, noted that the situation could have been worse but for the earlier sealing of the site by the state government.
“When we came to the scene of the incident, we found out that there were a total of six persons that were supposed to be on the site. One person was not on the site as at the time of the incident, while the four others were rescued and taken to the hospital and have been stabilised.
“Just not quite long ago, one body was recovered and it was taken to the hospital to confirm whether he was dead or alive,” he said.
The Executive Secretary, SEMA, Chinasa Mbah, said whereas only five persons were said to be present at the time of the incident, the entire wreckage would be cut through and excavated to ensure that no one was left behind.
“We are going to excavate everything because you can see the machines that government brought. We will excavate everything to ensure no survivor or body is left,” she said.
patriotism.
IHR names Gov Namadi national patron, cites contributions to Hajj industry
By Our Correspondent
A faith-based civil society organization, CSO, the Independent Hajj Reporters, IHR, has appointed Jigawa State Governor, Mallam Umar Namadi, as its National Patron.
Announcing the appointment during the IHR’s Post-Hajj Lecture at the National Mosque, Abuja, the National Coordinator, Ibrahim Muhammed, said it was in recognition of Namadi’s contributions to the Hajj industry and his efforts to protect Jigawa State’s Hajj slots.
“We align ourselves with His Excellency because of his trademark commitment to providing assistance to Jigawa pilgrims since his assumption of office and his extraordinary interest in catering to the welfare of Nigerian Hajj pilgrims,” Muhammed said.
He added that the appointment aligns with IHR’s mandate of advocating for Nigerian Hajj and Umrah pilgrims, and educating intending pilgrims.
Receiving the plaque on behalf of the governor, the Director General, Jigawa State Muslim Pilgrims Welfare Board, Ahmed Labo, said Namadi accepted the role “with a full sense of responsibility.”
“His Excellency feels elated with the appointment given to him to serve as patron of the Independent Hajj Reporters of Nigeria. He has accepted the appointment with a full sense of responsibility and promised to assist you in meeting the stipulated goals set by the association,” Labo stated.
The DG noted that since the Namadi administration began, the governor has provided financial support to the board to safeguard Jigawa’s Hajj allocation, adding that the state also sponsors Islamic scholars, medical personnel and support staff to assist pilgrims.
He listed other initiatives to include provision of lunch for pilgrims and Sallah gifts to cushion the impact of the Basic Travel Allowance, BTA.
“What we are witnessing today will energise all those involved and stimulate others to follow suit,” Labo added.
IHR said the appointment is aimed at strengthening collaboration with stakeholders committed to improving the welfare and experience of Nigerian pilgrims.
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