Mike Adenuga is a Nigerian billionaire businessman who is the second richest person in Nigeria. Adenuga is also the owner of Globacom, one of the largest telecom operators in Nigeria, Ghana, and Benin.
Mike Adenuga Biography
Chief Michael Adeniyi Agbolade Ishola Adenuga Jr., popularly known as Mike Adenuga, was born on April 29, 1953, in Ibadan, Nigeria.
Adenuga spent most of his childhood in Ibadan with his father, Oloye Michael Agbolade Adenuga Sr., a schoolteacher, and his mother, Omoba Juliana Oyindamola Adenuga, who was a businesswoman of royal Ijebu descent.
Little is known about his parents and how they lived their lives, but they were instrumental in shaping his career. Adenuga lost his father in a car accident in 1993.
Mike Adenuga has two siblings named Demola and Otunba, but their lives are private and they are hardly seen in the media.
Mike Adenuga Education
Adenuga’s educational journey started in Ibadan. He attended Ibadan Grammar School and later acquired his higher school certificate from Comprehensive High School, Aiyetoro.
Adenuga went further and graduated with business administration degrees from Northwestern Oklahoma State University and Pace University, New York. During his time at the university, he had to work as a taxi driver to fund his education.
Career
Mike Adenuga’s story serves as an inspiration for upcoming entrepreneurs. This is because he was not born a millionaire and had to work hard to get to the position he holds today.
Adenuga made his first million at the age of 26 in 1979. He was able to achieve this by selling lace and distributing soft drinks.
It was not until the ’90s, when he ventured into the oil and gas industry and telecommunications, that his portfolio and net worth started to grow.
Mike Adenuga is the owner of Globacom Telecommunications Network and Chairman of Conoil Producing Limited. He started Conoil after being granted a drilling license during Babangida’s regime in 1991.
He first acquired his GSM license from the federal government of Nigeria in 1999, and later again in 2003. Adenuga’s Globacom Telecommunications Company has grown to be one of the big names in Nigeria.
Mike Adenuga made his wealth from oil exploration and telecommunications in Nigeria.
Sometime in 2007, Adenuga got an award at the first African Telecoms Awards (ATA) for the African Entrepreneur of the Year.
Mike Adenuga’s Wife
Mike Adenuga is married to Titi Joyce Adenuga, and they have two children named Sade and Niyi. Adenuga met his wife Titi when she was looking for work at Devcom Merchant Bank, which is now merged with Equitorial Trust Bank.
Titi Joyce Adenuga is from Delta State, Nigeria, where she grew up with her parents, Pa. Elijah and Susan Okome of the Itsekiri tribe.
She is also a graduate of Obafemi Awolowo University in Ile-Ife, Osun State.
Titi Adenuga is also known for her philanthropic work and contributions to the business world. She founded the Titi Adenuga Foundation to provide educational assistance to underprivileged children in Nigerian society.
Her actions were recognised in 2016 when she was named one of the 100 most influential women in Africa by a London-based publication, New African Woman.
Although Titi and Mike Adenuga have been married for several decades, she is the second wife of the billionaire businessman.
Mike Adenuga’s First Wife
Mike Adenuga’s first wife is Emelia Adefolake Adenuga, nee Marquis. She is from Calabar in Cross Rivers State.
Emelia Adefolake Marquis is the wife of the billionaire businessman and mother of his six children, Adetutu Oyindamola Emilia Olufeko, Prince Babajide Michael Adenuga Jr., Mike Agbolade Ishiola Adenuga, Belinda Ajoke Olubunmi Disu, Abimbola Adenuga, and Eniola Adenuga.
The public does not know how long their marriage lasted, but since they have six children together, this means they were together for a while. They had been together long before Adenuga started to make waves in the business space.
Emelia was seen in July 2017 during the wedding of her first daughter, Oyin Adenuga. The wedding ceremony was held in Adenuga’s Banana Island home.
Emelia keeps a low profile and is only seen on the internet when her family celebrates her or during an important family event.
Mike Adenuga’s First Daughter
Mike Adenuga’s first daughter is Adetutu Oyindamola Emilia Olufeko. She got married to a digital artist and digital strategist named Adeolu Abayomi Olufoke in July 2017.
Oyindamola is a graduate of sociology from the University of Maryland, Baltimore County. She is following in her father’s footsteps in business, as she was Senior Manager at Equatorial Trust Bank.
Other business experiences include working as an executive director for Consolidated Oil and running her own business, Imaginative Buying Services, a company that makes it possible for Nigerians to purchase products from the United States of America.
Mike Adenuga Children
Adenuga has a total of eight children from the two women in his life. He has two from his second wife, Titi Joyce Adenuga, and six from his first wife, Emelia Adefolake Marquis.
His children are also involved in different businesses and are making their mark in various industries.
Mike Adenuga’s children include Adetutu Oyindamola Emilia Olufeko, Prince Babajide Michael Adenuga Jnr., Mike Agbolade Ishiola Adenuga, Belinda Ajoke Olubunmi Disu, Abimbola Adenuga, Eniola Adenuga, Folashade Adenuga, and Adeniyi Richard Michael-Adenuga.
Mike Adenuga House
Adenuga owns a luxury estate on Banana Island, Lagos, a place he calls home. This estate can easily be said to be one of the most expensive private residences in Nigeria.
The estate covers a massive three hectares of land and was rumoured to cost Mike Adenuga 8 billion naira (22 million US dollars) at the time.
Within the estate, you will find a church, a mosque, a luxurious indoor swimming pool, a 200-seat conference hall, a car park, a private berth for his boats and yachts, and a heliport.
The construction of this exclusive Adenuga estate was carried out by Julius Berger and Cappa & D’Alberto.
Mike Adenuga’s Net Worth
Adenuga has gotten wealthy to the extent that his wealth is published alongside that of other billionaires on Forbes.
Mike Adenuga’s net worth is estimated to be around $6.8 billion as of 2024.
This makes him the second richest person in Nigeria and one of the richest in Africa.
Facts About Mike Adenuga
- Adenuga is known as the Otunba Apesin of the Ijebu clan.
- He was made Grand Commander of the Order of the Niger by the government of Nigeria in 2012.
- His Consolidated Oil was the first indigenous oil company to discover large amounts of oil in the shallow waters of Southwestern Ondo State.
- He had to reapply for a GSM license in 2003 after it was revoked.
FAQs
How old is Mike Adenuga?
Mike Adenuga was born on April 29, 1953, which makes him 71 years old as of 2024.
How many wives does Mike Adenuga have?
Mike Adenuga has been married twice. His current wife is Titi Joyce Adenuga.
Where is Mike Adenuga from?
Mike Adenuga is a native of Ibadan, Oyo State, Nigeria. This is where he spent most of his childhood.
Which bank is owned by Mike Adenuga?
Mike Adenuga owns stakes in the Equitorial Trust Bank.
What impact has Mike Adenuga made in Nigeria?
Adenuga has significantly impacted Nigeria’s economy through his investments in telecommunications and oil, providing employment and contributing to the nation’s GDP.
