Business tycoon Mike Adenuga has been adjudged Nigeria’s second-richest individual after Aliko Dangote.
This followed Forbes‘ reevaluation of the worth of his mobile phone network, Globacom, which is the third-largest telecom service provider in Nigeria.
As of January 11, the American business magazine placed Adenuga’s net worth at $7.4 billion.
Adenuga temporarily lost the second-richest position to BUA Group chairman Abdulsamad Rabiu a year and a half ago.
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With this development, Adenuga also secures the fifth spot among Africa’s wealthiest individuals.
Beyond his telecommunications venture, his extensive business portfolio includes substantial investments in the oil industry through Conoil Producing and Conpetro.
His notable presence in Sterling Financial Holding, where he holds a 30.63-percent stake, further solidifies his status among Nigeria’s financial elite.
Under Adenuga’s leadership, Globacom has actively pursued the objective of establishing Africa’s most extensive telecommunications network, accumulating millions of subscribers in Nigeria and Ghana and commanding around 28 per cent of the market share in Nigeria.
