Current Date: 2 Oct, 2023

Mike Adenuga Earnings and Networth

Various online resources (Wikipedia, Forbes, IMDB) estimate that the Nigerian billionaire, Mike Adenuga, is worth $6 billion. He surpasses Nigerian oil tycoon Aliko Dangote to become the second-richest black person on the planet.

Mike Adenuga, an oil producer and recluse, amassed a massive fortune through oil and mobile telecommunications (The second-largest telecom provider in Nigeria, Globacom), which also operates in Ghana and Benin.

Mike Adenuga Earnings and Networth

He is a shareholder in the oil exploration firms Conoil and Equitorial Trust Bank (formerly Consolidated Oil Company).

Mike Adenuga Biography and Early Life


Full Name - Michael Adeniyi Agbolade Ishola Adenuga Jr. 

Date of Birth - 29 April 1953

Age - 69 years


Height - 5ft 8

Nationality - Nigerian

Source of wealth - Busines

Annual Salary -  $1 Billion +

Net worth - $10 billion

Last updated - December 2022

Michael Adeniyi Agbolade Ishola Adenuga Jr. was born in Nigeria on April 29, 1953. Though they weren't as wealthy as he was, his family did manage to achieve some measure of success. He was therefore accepted into one of Nigeria's top universities.

His mother, Omoba Juliana Oyindamola Adenuga (née Onashile, of Okesopin, Ijebu Igbo), was a businesswoman of royal Ijebu ancestry. His father, Oloye Michael Agbolade Adenuga Sr., was a schoolteacher.

He earned his higher school certificate from Ibadan Grammar School in Ibadan, Oyo State, Nigeria, and Comprehensive High School in Aiyetor. 

He earned his Higher School Certificate and served in Adenuga's secondary schools (HSC), so he drove a cab to pay for his university education. 

He earned Business Administration degrees from Pace University in New York and Northwestern Oklahoma State University. 

Read Also: Aliko Dangote Earnings And Networth

Michael Adenuga Career and Earnings

Adenuga, then 26 years old, sold lace and distributed soft drinks, earning his first million in 1979. He was granted a drilling permit in 1990. His Consolidated Oil became the first indigenous oil company to discover oil commercially in the shallow waters of southwest Ondo State in 1991.

He was given a conditional GSM license in 1999 after it was revoked, he was given a second one in 2003 during a subsequent government auction.

He established Globacom, Nigeria's second-largest mobile phone network, in 2006. The company, which serves more than 24 million customers in Nigeria, also conducts business in the Republic of Benin, where it recently obtained permits to open offices in Ghana and the Ivory Coast.

Adenuga made a takeover offer in May 2015 to pay $600 million for the Ivorian telecom operator Comium Côte d'Ivoire. With a daily production capacity of 100,000 barrels, His Conoil Producing is one of Nigeria's biggest independent exploration firms. 

Due to his strong connections with the military, he received numerous contracts. In addition, because of his close ties to the ruling government, he was mouldable to eliminate his rivals in mobile communication. 

Whatever he accomplished, he attained the highest level of wealth in Nigeria. He is not only one of the wealthiest people in Nigeria but also in Africa. He ranks among the top ten wealthiest Africans. Check out Rob Walton, too.

Mike Adenuga Awards

  • In 2012, the Nigerian government appointed him Grand Commander of the Order of the Niger.
  • In August 2007, he received the African Entrepreneur of the Year award at the inaugural African Telecoms Awards (ATA).
  • As the Otunba Apesin of the Ijebu clan, he is the tribal chieftain of the Yoruba people.
  • President Emmanuel Macron of France awarded him the Commander of the Legion oflogonsignia in 2018.
  • In 2019, New African magazine listed Adenuga among the Top 100 most influential Africans.
Excellence Chukwuma Chukwunaedu

Excellence Chukwuma Chukwunaedu

I enjoy marketing, technology and business. I help businesses and brands connect with their ideal customer profiles and build products that excite them and solve their problems.