Chief Michael Adeniyi Agbolade Ishola Adenuga Jr

Born: 29 April 1953, Ibadan, Nigeria Nationality: Nigerian Ethnicity: Yoruba Titles & Honors:

• CSG, GCON (Grand Commander of the Order of the Niger, Nigeria – 2012)

• Commander of the Legion of Honour (France – 2018)

• Yoruba chieftaincy title: Otunba Apesin of Ijebu clan

Net Worth (May 2024): Estimated at US$6.7 billion (Forbes), ranked 5th richest in Africa.

Early Life & Education

• Parents:

  • Father – Oloye Michael Agbolade Adenuga Sr, a schoolteacher.

  • Mother – Omoba Juliana Oyindamola Adenuga (née Onashile), a businesswoman of royal Ijebu descent.

• Secondary Education:

  • Ibadan Grammar School, Ibadan, Oyo State.

  • Comprehensive High School, Aiyetoro (Higher School Certificate).

• Worked as a taxi driver to fund his studies abroad.

• Higher Education:

  • Northwestern Oklahoma State University – Business Administration.

  • Pace University, New York – Business Administration.

Career Highlights

• Early Entrepreneurship (1979):

  • Made his first million at age 26, selling lace and distributing soft drinks.

• Oil Exploration (1990–1991):

  • Received a drilling license in 1990.

  • Consolidated Oil (now Conoil) struck oil in Ondo State in 1991, becoming the first indigenous Nigerian oil company to achieve commercial production.

• Telecommunications (2003–present):

  • Secured GSM license in 2003 after initial revocation in 1999.

  • Founded Globacom, now Nigeria’s second-largest telecom operator, with operations in Ghana and Benin.

  • Known for pioneering affordable mobile services and extensive fiber-optic infrastructure across West Africa.

• Banking:

  • Holds stakes in Equitorial Trust Bank.

• International Expansion:

  • In 2015, made a $600 million bid to acquire Comium Côte d’Ivoire, a mobile telecom operator.

Recognition & Honors

• African Entrepreneur of the Year (2007): African Telecoms Awards.

• Grand Commander of the Order of the Niger (2012): Nigerian national honor.

• Commander of the Legion of Honour (2018): Awarded by French President Emmanuel Macron.

• Top 100 Most Influential Africans (2019): New African magazine.

Personal Life

• Known for his low-profile lifestyle, despite immense wealth.

• Respected for his contributions to Nigeria’s oil and telecom sectors.

• Holds traditional Yoruba titles and is deeply connected to his cultural heritage.

Quick Facts