Mike Adenuga, the well-regarded Nigerian business tycoon with interests in telecom and oil, has gracefully reclaimed the role of Nigeria’s second-richest person, surpassing Abdul Samad Rabiu. This financial feat comes on the heels of Forbes’ comprehensive review of the valuation of Adenuga’s mobile network powerhouse, Globacom.
Standing tall at $7.4 billion, Mike Adenuga’s current net worth underscores his influential position in Africa’s business scene, highlighting his sustained financial strength.
Adenuga, the visionary behind Nigeria’s third-largest telecom service provider, Globacom, momentarily surrendered the title of the nation’s second-wealthiest individual to Rabiu about a year and a half ago.
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Forbes’ recent reassessment has reshaped the hierarchy, propelling Adenuga to the esteemed position of Nigeria’s second-richest individual, with Aliko Dangote being the sole figure ahead.
With a net worth of $7.4 billion, Adenuga also secures the fifth spot among Africa’s wealthiest individuals.
Apart from his telecommunications venture, Adenuga’s expansive business portfolio encompasses significant investments in the oil sector, notably through Conoil Producing and Conpetro.
Adenuga’s significant influence extends to Sterling Financial Holding, where his ownership of a 30.63-percent stake firmly cements his standing among Nigeria’s financial elite.
With Adenuga at the helm, Globacom has actively worked towards the vision of establishing Africa’s most comprehensive telecommunications network, accruing millions of subscribers in Nigeria and Ghana and securing a robust 28 percent market share in Nigeria.