Mike Adenuga, the prominent Nigerian telecom and oil tycoon, has regained the title of Nigeria’s second-richest individual following Forbes’ recent reevaluation of his mobile phone network, Globacom.
Adenuga’s current net worth stands at an impressive $7.4 billion, reaffirming his influential position in Africa’s business landscape.
Founder of Globacom, the third-largest telecom service provider in Nigeria, Adenuga temporarily lost the second-richest position to Rabiu about a year and a half ago.
However, the recent reassessment by Forbes has once again positioned him as Nigeria’s second-richest person, with only Aliko Dangote ahead of him.
Adenuga’s net worth of $7.4 billion also secures him the fifth spot among Africa’s wealthiest individuals.
His extensive business portfolio goes beyond telecommunications, with significant investments in the oil industry through Conoil Producing and Conpetro.
Additionally, his notable presence in Sterling Financial Holding, where he holds a 30.63-percent stake, further solidifies his status among Nigeria’s financial elite.
Globacom, under Adenuga’s leadership, has actively pursued the goal of establishing Africa’s most extensive telecommunications network.
The company has accumulated millions of subscribers in Nigeria and Ghana, commanding around 28 percent of the market share in Nigeria.
