Project Description

Michael Adeniyi Agbolade Ishola Adenuga Jr – known as Mike Adenuga

Place of Birth

Ibadan, Oyo, Nigeria

Industry

Oil and Telecommunications

Mike Adenuga
Mike Adenuga

Business

After completing his education in the United States Mike Adenuga returned to Nigeria and started his career. He obtained a drilling license, struck oil the following year and started the first indigenous oil company to extract oil in a commercial quantity. In later years Adenuga expanded his interests to include telecommunication when he was issued a conditional GSM license and launched his company Globacom. The company grew quickly in various African countries including Ghana, Benin and Côte d’Ivoire, and became serious competition to the MTN Group, a telecoms giant in Africa. Throughout his career Adenuga has received honours and awards and has achieved a net worth of billions.

Philanthropy and Sponsorship

Mike Adenduga did not come from a wealthy background, but instead sponsored his education by working as a taxi driver while pursuing two degrees in business in the United States. Born and raised in Nigeria Adenuga is proudly African and committed to serving the needs of his country and continent. To ensure a future of social and economic growth, for his beloved continent, the businessman decided to launch the Mike Adenuga Foundation, a philanthropic organisation with the goal of improving Nigeria and other African countries. Adenuga and his foundation use networking and research to identify potential partners with which the foundation can collaborate to develop and implement various socio-economic initiatives. Adenuga uses his business acumen to manage these collaborations. He achieves targets by making sure that site visits are done and meeting with stakeholders to develop, manage and monitor grants regularly. One of the main philanthropic efforts Adenuga has been involved with is donating N500 million to the aid efforts in helping flood victims of the Bayelsa province. This is roughly US$3.2 million.