Early Life and Education
Mike Adenuga was born on April 29, 1953, in Ibadan, Nigeria. He is the youngest of five children. His father was a schoolteacher, and his mother was a businesswoman of royal descent. Adenuga received his secondary education at Ibadan Grammar School and Comprehensive High School, Aiyetoro. To fund his university education, he worked as a taxi driver. He earned degrees in Business Administration from Northwestern Oklahoma State University and Pace University, New York.
Rise to Success
Adenuga made his first million at the age of 26 in 1979, selling lace and distributing soft drinks. In 1990, he received a drilling license, and in 1991, his oil firm Conoil struck oil. He obtained a GSM license to start Globacom in 2003. Adenuga was named African Entrepreneur of The Year in 2007.
Key Business Strategies
Adenuga's key business strategies include diversification and strategic investments. His ventures span telecommunications, oil and gas, banking, construction, real estate, and manufacturing. Through Globacom, he introduced innovative services like per-second billing and value-added offerings, driving rapid expansion. He also focused on providing affordable and accessible services, increasing competition in the telecom sector.
Philanthropy
Adenuga's philanthropic efforts are primarily channeled through the Mike Adenuga Foundation. The foundation supports initiatives in health, education, rural development, and entrepreneurship. It has provided substantial financial support during crises and has contributed to educational opportunities, healthcare systems, and various social causes. The Mike Adenuga Foundation has also been involved in providing scholarships, including awarding $20.5 million yearly.