The rise and rise of Dr. Mike Adenuga Jnr
Sunday, February 11, 2007

Otunba Michael Adeniyi Ishola Adenuga Jr. has been in the news lately on account of several patriotic initiatives.

Dr. Mike Adenuga Jnr.

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The Chairman of Globacom made headlines when the company secured the sponsorship title rights of the Nigerian Premier League at an annual fee of N639 million for four consecutive soccer seasons.

In addition to the sponsorship, Adenuga has also hired a foreign technical adviser, Mr. Berti Vogt, for the National Teams, the Super Eagles in particular. The largesse includes a bumper pay for the technical adviser, accommodation in Lagos and Abuja and a befitting chauffer-driven car. The Super Eagles are presently preparing for the 2008 Nations Cup in Ghana and the 2010 World Cup in South Africa.

Globacom’s life-line has raised the sponsorship of the Nigerian premier League to the highest in the African continent and has won President Obasanjo’s commendation and a special recognition from the Confederation of African Football, CAF. Little wonder that Adenuga’s image has continued to loom large in the Nigeria and Africa continent.

CAF has awarded Adenuga, the Pillar of Sports in Africa for his strong support for African Football at both national and continental levels. Adenuga will be presented the trophy at the opening of the 29th CAF General Assembly scheduled to hold in Khartoum on 10th and 11th February 2007.

Only recently, Globacom launched a new brand identity with the pay-off Rule Your World - a rallying slogan for catalyzing commitment to the company’s corporate vision by staff and a clarion call on Nigerians to take their destiny in their hands as they have the potentials to become the best in the world.

Globacom has also recently signed a series of network expansion contract worth over 600 million US Dollars with Alcatel-Lucent for the deployment of nationwide fixed and mobile networks as well as next generation IP/MPLS and optical network solutions. It would expand Globacom’s national mobile network capacity from its current 12 million subscribers to 35 million by the end of 2007.

This covers the Alcatel-Lucent multi-standard Evolium radio access and core network solutions as well as transmission solutions.

The Minister of Information and Communication, Mr. Frank Nweke Jr., on a recent visit to the Globacom’s corporate headquarters in Lagos, eulogized the company and its visioner for the company’s innovative products and services and very insightful brand positioning.

According to Nweke Jr., “Glo is an authentic Nigerian company. What it has achieved in the past three years demonstrates great potentials, great opportunities, drive for excellence and commitment to Nigeria”.

“Globacom embodies the Nigerian spirit and tells the Nigerian story – a story of vision, courage, hope, passion and power. The growth you’ve recorded is an evidence of the capacity of Nigerians to compete with the best in the world. I’m excited about the innovations you’ve brought to bear on the business”.

The 53 year-old Adenuga Jr. was born in 1953, seven years before Nigeria’s independence, in the ancient city of Ibadan, into the family of Chief Mike Adenuga Snr., a school teacher and Madam Oyindamola Adenuga, a successful trader and Yeyeoba of Ijebuland. Adenuga is a native of Ijebu Igbo in Ogun State of Nigeria.

He attended the famous Ibadan Grammar School, in Oyo State for his secondary education and studied Business Administration at Northwestern State University, Alva, Oklahoma in the United States. He also earned a Masters degree at Pace University, New York, majoring in Business Administration with emphasis on Marketing.

An encounter with Otunba Adenuga would reveal a man of uncommon intellect; a man with a deep passion for his calling; a man who has achieved as a personal mantra and a life that thrives on hardwork. From his modest office in the heart of Victoria Island, he oversees a vast business empire with investment in oil, banking, real estate, international trade and lately telecommunications.

His sojourn in the United States of America in search of the proverbial golden fleece has also added another exciting chapter to his impressive resume. Even though the young Adenuga came from a relatively comfortable background, he was said to have paid his way through school with money got from driving taxi cabs and working as security guard, at several times.

Adenuga is certainly no new kid on the block as far as entrepreneurial acumen is concerned. He had attracted national attention as far back as 1991 when his Consolidated Oil Limited struck oil in commercial quantity. He is reputed to have distinguished himself in the business of importation at the young age of 22! And ever since, Otunba Adenuga has bestrode the world of modern business like a colossus.

The man Adenuga means different things to different people. A husband, father, team leader, role model, benefactor and an entrepreneur par excellence while some would argue that he is one of the champions of Nigeria’s economic development!

A man of abundant positive energy and immense personal drive, Adenuga still drives himself around town in his choice automobiles even though there are drivers at his beck and call. Adenuga has thus also become a metaphor in modesty.

Although he has made giant strides in several business categories, Nigerians would probably remember him more for his timely intervention in the telecommunications arena, where he seems to hold the aces that determine the pace of play. Globacom’s historic introduction of Per Second Billing and subsequent crashing of SIM price did not only skew the GSM equation in its favour but has continued to hold a lot of implications for the fledgling Nigerian telecommunications sector.

Beneath Adenuga’s imposing physical stature lies a soft heart for his motherland, Nigeria. His patriotic adoption of the nation’s green and white colours for Globacom speaks volumes of his intent and deep yearning to see Nigeria attain its rightful place in the comity of nations. He firmly believes that only Nigerians can champion the development of this country as no foreigner would do it for us.

Adenuga can easily be described as the man with the Midas touch. The man has grown a modest saw mill business he inherited from his father in his Ijebu homestead into a modern day wood processing factory. And when the Central Bank of Nigeria’s policy on banks consolidation unsettled a lot of banking businesses, Adenuga had no trouble merging his Devcom Bank and Equitorial Trust Bank into a mega entity with the stipulated solid capital base. The man’s imposing edifice and corporate headquarters of Globacom on Mike Adenuga Close, Victoria Island, Lagos could easily pass for a tourist attraction.

Globacom has been adjudged the fastest-growing telecoms operations in Africa and the third fastest in the world, with an active subscriber base currently in excess of 11 million within just 3 years of operation.

A popular Igbo adage says that when a child washes his hands clean, he will dine with kings and elders. Otunba Adenuga has washed his hands really clean and is indeed dinning with kings, elders and world leader. Back home, he has been honoured with the National Award of the Officer of the Order of the Niger (OON) by President Obasanjo.

Though a few may disagree with his enterprising nature and business acumen, one thing appears certain, and that is the fact that, when the history of the Nigerian nation is written, Adenuga would earn a chapter as a man that stood up to be counted when it mattered most.