The Guru. Visionary. Pacesetter. Colossus. Transformer.

Happy birthday to Otunba Dr. Mike Adenuga (Jnr.), Chairman of Globacom and Conoil PLC as he marks his 72 years birthday on Tuesday April 29, 2025. Cheers to one Nigerian who bestrides the African business landscape.

A special gift to Nigeria, he is renowned for his business acumen. When it is comes to business, he’s got the vision. He can see good fortune light years ahead while others are still pandering whether it is feasible.

Dr. Mike Adenuga (Jnr.) is unafraid to venture where others fear to tread.  Fondly called ‘The Bull’ for his fearless and zeal. He’s got this Midas touch that is unparalleled. His boundless energy, philanthropy, native intelligence and wisdom combined stand him out, enabling him to see ahead of others the right sectors and businesses to invest and transform.

Changing Telecom Services Narrative

If there is anyone who single-handedly transformed Nigerian telecommunications industry, that person is no other than Dr. Mike Adenuga (Jnr.). His tenacity to recover his Digital Mobile Licence (DML) which his company won in 2001 mobile auction but was illegally taken away from him, paid off in 2002 when his company, Globacom won the Second National Operator (SNO) licence.

In September 2003, Globacom transformed the Nigerian telecoms market in particular and Africa in general by being the first Global System for Mobile Communication (GSM) operator to launch operations with Per Second Billing, Multimedia Service (MMS), Mobile Internet, in additional to plethora of communications suites simultaneously.

Glo crashed the price of Subscriber Identification Module (SIM) card, leaving other foreign mobile networks scratching their heads in the GSM wars that changed the face of telecom, bringing down the price of SIM Card from N50,000 down to N100 and later to One Naira (N1) only.

Millions of Nigerians became overnight owners of mobile phones lines courtesy of the competition engendered by Glo. Every major step Glo took from the day it commenced operation, other mobile competitors were jittery, helpless and followed the initiative in other to remain in the market.

After establishing the footprints of Glo in Nigeria, Dr. Mike Adenuga (Jnr.), also took the telecom giant to Ghana and Benin Republic with mobile operating licences in those countries. Unsatisfied with the routing of calls from Africa countries to Europe then back to Africa, he built Glo-1, the first international submarine cable system that was solely financed by an individual. Today, Glo-1 links global telecom networks, data centres, banks and Interconnect houses to millions of businesses across the world.

Globacom has going a notch higher with Glo-2 ensuring that Nigerian cities, towns and villages and oil companies are connected to terrestrial fibres through its landing stations in Lagos and Niger Delta.

Digital Financial Services

Dr Adenuga (Jnr.), a man who can see opportunities from afar, has took the lead in procuring Super-Agent licence for Agency Banking and Mobile Money licence from the Central Bank of Nigeria (CBN) with the establishment of Glo Mobile Money and Money Master Payment Service Bank Limited, a Digital Bank delivering financial inclusion services to Nigerians especially in rural, semi-rural and urban areas thus connecting them to the formal sector.

Oil, Gas Transformations

 He transformed the face of Nigerian oil, banking, and telecommunications industries. In 1991, when oil mining and production was controlled by foreign multinational companies (MNCs), Dr. Adenuga’s (Jnr.) indigenous oil company was the first to start drilling crude oil. Today, Conoil has metamorphosed into one of the largest African-owned oil conglomerates on the continent with footprints in the upstream, midstream and downstream of the oil and gas sector. 

His forays into the bank industry are well documented where he brought a fresh energy and bespoke financial services with Devcom Merchant Bank and Equatorial Trust Bank (ETB) which later merged into Sterling Bank.

Man flowing with Milk of Human Kindness

The humanitarian side of this famous Nigerian billionaire is incomparable. Although, coming from a middle-class family, Dr. Mike Adenuga’s (Jnr.) academic sojourn in the United States of America and the everyday life lessons internalized from his parents, Chief Michael Agbolade Adenuga (Snr) and Madam Oyindamola Adenuga, shaped his worldview and brought out his humane side in the way he deals with people and businesses.

He has been a major supporter of sports, especially football (Nigerian national teams). He has massively sponsored the Confederation of African Football (CAF) Awards for many years. He was honoured the title of Pillar of Football in Africa for his strong support for African Football at both national and continental. He has quietly rendered support to many without seeking media attention.
Through him, Glo sponsors the annual Ojude Oba festival in Ijebuland and also the Ofala festival in Onitsha, Anambra amongst others, promoting Nigeria’s rich culture. He has been major supporting of the Nigerian entertainment industry, turning many Nigerian and Ghanaian actors into instant millionaires through the Glo Ambassador programme.

A lover of education and the arts, Dr. Mike Adenuga (Jnr.) through his companies has sponsored several initiatives such as Glo Campus, and offered scholarships to thousands of the downtrodden to pursue their academic dreams.

 Humble Beginnings

A man of outstanding wisdom, Dr. Mike Adenuga (Jnr.) was born Michael Adeniyi Agbolade Ishola Adenuga on April 29, 1953 at Ibadan, Oyo State. His father was a school teacher while his mother was an outstanding businesswoman.

Dr. Adenuga (Jnr) is an alumnus of the famous Ibadan Grammar School, North Western State University, Alva Oklahoma; and Pace University, New York, both in the United States of America where he majored in business administration with emphasis in marketing. As a student in the USA, he supported himself with jobs as a taxi driver and security guard.

Dr. Mike Adenuga (Jnr) is a visionary leader, an outstanding entrepreneur and and manager of people and resources. He is a man of uncommon intellect and wisdom have helped him overcome difficult times. Today, he sits atop a vast telecom, oil and gas (Conoil), banking and real estate investments.

As Dr. Mike Adenuga (Jnr) clocks 72 years on Tuesday April 29th, 2025, SiliconNigeria.ng wishes him a marvelous birthday and many happy returns in good health in the service of the fatherland.

Mobile money reached two significant milestones in 2024, surpassing two billion registered accounts and over half a billion active monthly users across the globe. The industry took 18 years to achieve one billion registered accounts and 250 million active users from 2001, but doubled in size in the following five years.

This is according to the ‘State of the Industry Report on Mobile Money 2025’ prepared by the GSMA Mobile Money programme which works to advance the mobile money ecosystem for communities worldwide that lack access to more traditional banking services. 

Its latest report finds that transaction volumes and values for mobile money accounts experienced robust double-digit growth in 2024. Approximately 108 billion transactions, totalling over $1.68 trillion, were processed through mobile money accounts in 2024. Year-on-year, transaction volumes increased by 20%, while transaction values grew by 16%, up from a 13% increase in 2023. 

In Sub-Saharan Africa alone, year-on-year, mobile money added around $190 billion to GDP in 2023, demonstrating its sustained economic influence. Sub-Saharan Africa remains the world’s most active mobile money region, driven by new registered accounts and rising monthly activity in East and West Africa. East Africa was the leading driver of monthly active account growth in 2024, followed by Southeast Asia and West Africa. 

Mobile money continues to play a key role in economic development. By the end of 2023, the total GDP of countries with mobile money services was over $720 billion higher than it would have been without them, reflecting a 1.7% increase in GDP driven by mobile money.

Vivek Badrinath, GSMA Director General comments: “Mobile money has emerged as a powerful driver of financial inclusion and economic growth. Its continued success depends on supportive regulatory environments that promote innovation, accessibility and help unlock the full socio-economic potential. To ensure mobile money remains accessible, affordable, and safe, it is vital for governments and regulators to work with financial service providers to support financial literacy programs, empowering underserved populations and opening new opportunities for financial decision-making.”

         …As House C’tte on NASENI Lends Its Support

The Executive Vice Chairman/Chief Executive Officer, National Agency for Science and Engineering Infrastructure (NASENI), Mr. Khalil Suleiman Halilu, has assured the House of Representatives Committee on NASENI that the Agency’s branded commercial products that have been unveiled are market ready and SON certified.

Mr. Halilu disclosed on Thursday in Abuja when the House Committee on NASENI paid an oversight visit to the Agency’s Headquarters to inspect its products and projects towards robust research in technological advancement in Defense/Security Sector, Agricultural Sector, Infrastructural Sector and other areas of human endeavours.

Among the recently unveiled products include NASENI Laptop, Android Smartphone, Lithium Battery, LED Solar Street Light, Solar Irrigation System, Electric Bicycle, Electric Keke and Keke Cargo. The EVC used the visit to showcase two NASENI electric vehicles (EV) to the lawmakers.

According to Halilu, NASENI has been at the forefront of driving Nigeria’s technological advancement and industrialization. “Over the past few months, we have implemented several key initiatives aimed at transforming our operations from primarily research-based activities to the commercialization of our products and services.  

“This transformation is essential for us to contribute more effectively to the national economy and to achieve sustainable development goals,” he said, adding that 85 per cent of NASENI projects are on counterpart funding. “We don’t want to invest alone in what we do and that is why we work with our 3C’s principle of Collaboration, Creation and Commercialization, thereby engaging the services of private sector by partnering with them to ensure that we deliver on our mandate.

He stated that about 35 products of NASENI under his watch are market ready. “We are ready for Nigerian market and we want the honourable members to be our first ambassadors. Also, we are establishing show-rooms in all the 36-states of the federation for marketing of our products. Every activity we do, we have commercial plan. We don’t want our products to end up in shelves, but to get to the end users”, he stated.

Highlighting on achievements NASENI has made so far, the EVC/CEO listed some of them to include: Innovation and Research Development, Product Commercialization, Renewable Energy Projects and Capacity Building. He however, called on the lawmakers to keep supporting NASENI to deliver to the nation, especially in creating jobs for teaming Nigerian youths.

In his speech, the Chairman, House Committee on NASENI, Hon. Otunba Abimbola Ajilesoro, said the essence of the oversight visit is to have an opportunity to interact with the Agency towards robust research in technological advancement in Defense/Security Sector, Agricultural Sector, Infrastructural Sector and other areas of human endeavours, adding that it will in turn save and bring in much needed foreign exchange that will impact positively on the economy.

He pointed out that the committee has been following the activities of the Agency. “We have been hearing NASENI branded products, NASENI Laptops, NASENI Android Smartphone, NASENI Lithium Battery, NASENI LED Solar Street Light, etc. The Committee deems it necessary to see for ourselves, these products and other technologies that will enhance Nigeria’s economy.”

Speaking on the mandates of the NASENI Development institutes, he assured NASENI of the Committee’s readiness to support it in the areas of Appropriation and Legislative framework that will strengthen the Establishment Act to enable the Agency deliver effectively.

“However, while the committee will continually give all necessary support periodically, it will demand for accountability and value for money in the implementation of the lofty programmes embedded in the mission and vision of the Agency. This would enable us expand, deepen and create an enduring part for a sustainable technological advanced Industrial hub within the country of Nations”, he affirmed.