Nigerian Telecom Tycoon Mike Adenuga and President Mahama Discuss Strengthening African Business Connections
Renowned Nigerian businessman and Telecom tycoon, Dr. Mike Adenuga Jr., has paid a courtesy visit to President John Dramani Mahama at his residence in Accra.
The meeting, held behind closed doors, highlighted the cordial relationship between the two prominent figures, grounded in mutual respect and a shared vision for Africa’s economic advancement.
The reason for their meeting still remains unknown but is clear that President Mahama and the Telecommunications industry leader have a close bond.
Dr. Adenuga is the founder of Globacom, Nigeria’s second-largest telecommunications operator, which also has operations in Ghana and Benin. He owns stakes in the Equitorial Trust Bank and the oil exploration firm Conoil which is a Nigerian petroleum marketing company involved in the sale of regulated gasoline and kerosene, diesel, aviation fuel, and low-pour fuel. Other business activities of the firm include the production and marketing of lubricants under the brand name Quatro.
During the visit, President Mahama acknowledged Dr. Adenuga’s influence in driving economic development on the continent, particularly through investments that create jobs and improve connectivity in underserved regions.
Glo in Ghana had some of the greatest phone and internet services in the past, and it also sponsored and supported the creative arts sector.
Glo was a frontline sponsor of major football competitions in Ghana.
Who is Dr. Mike Adenuga Jr.?
Dr. Mike Adenuga Jr. is one of Africa’s most influential entrepreneurs.
According to Forbes, he is the fifth richest person in Africa. His business empire extends beyond telecommunications into oil and banking.
He owns a majority stake in Conoil Plc, a leading Nigerian oil exploration firm, and previously founded Equitorial Trust Bank, which later merged with Sterling Bank. He currently holds a significant share in Sterling Financial Holdings.
Furthermore, he made his first million at the age of 26 through the sale of lace and the distribution of soft drinks. In 1990, he obtained a drilling license, and by 1991, his company, Consolidated Oil (now Conoil), became the first indigenous Nigerian firm to strike oil in commercial quantities in the shallow waters of Southwestern Ondo State. Over the decades, Adenuga has built a diversified business portfolio that has significantly contributed to the continent’s economy. He is known to be one of the few people who turn people around him into billionaires.
