Mike Adenuga, born in 1953, hails from Ijebu Ode, Nigeria. He began his career in the early 1970s as a taxi driver in the bustling city of Lagos, a job he took up to fund his university education. His entrepreneurial spirit was evident even then, as he used his earnings to start a small business selling lace and other fabrics.

In 1979, Adenuga ventured into the oil sector, establishing Consolidated Oil, which later became one of the first indigenous companies to explore oil in Nigeria. His success in the oil industry laid the foundation for his future endeavors, catapulting him to fame and fortune.

Mike Adenuga’s Current Net Worth (2025)

As of 2025, Mike Adenuga’s current net worth is estimated to be around $6.1 billion, according to Forbes. This places him as one of the wealthiest individuals in Africa and the world.

Mike Adenuga’s Career

Mike Adenuga began his career as a taxi driver in the 1970s, using his earnings to import lace and other goods from Nigeria. He founded the successful company, Mike Adenuga Group, which expanded into banking and telecommunications. In 1994, he established the first indigenous private telecom operator in Nigeria, Globacom.

Mike Adenuga’s Other Ventures

Beyond his telecommunications empire, Mike Adenuga has interests in oil and gas through his company, Conoil Producing. He also owns a significant stake in the Nigerian banking sector through his investment in Sterling Bank. Additionally, he has investments in real estate and equities.

Mike Adenuga’s Assets

Mike Adenuga’s assets include a 25% stake in Globacom, a significant stake in Sterling Bank, and a majority stake in Conoil Producing. He also owns several properties in Nigeria and abroad, including a $100 million mansion in London.

Mike Adenuga’s Annual Income

Mike Adenuga’s annual income is primarily derived from his stake in Globacom, which generated over $1 billion in revenue in 2020. His other ventures, including Conoil Producing and his banking investments, also contribute significantly to his annual income.

Frequently Asked Questions about  Mike Adenuga

**Frequently Asked Questions: Mike Adenuga Net Worth**

1. **What is Mike Adenuga’s net worth?**

Mike Adenuga’s net worth is estimated to be around **$7 billion**.

2. **How did Mike Adenuga make his fortune?**

Mike Adenuga made his fortune primarily through telecommunications and oil & gas. He founded Globacom, a major telecommunications company in Nigeria and West Africa, and also has significant interests in the oil and gas sector through Conoil.

3. **What is Mike Adenuga’s age?**

Mike Adenuga was born on April 29, 1953, making him **69 years old** as of 2022.

4. **Where was Mike Adenuga born?**

Mike Adenuga was born in Ijebu-Ode, Ogun State, Nigeria.

5. **What is Mike Adenuga’s educational background?**

Mike Adenuga obtained a Bachelor’s degree in Business Administration from the Northwestern Oklahoma State University and a Master’s degree in Marketing from the University of San Francisco.

6. **What are some of Mike Adenuga’s philanthropic endeavors?**

Mike Adenuga has been involved in various philanthropic activities, including the establishment of the Mike Adenuga Foundation, which focuses on education, health, and youth empowerment. He has also donated to various causes and institutions, including the University of Lagos and the University of Nigeria, Nsukka.

7. **What is Mike Adenuga’s relationship with the Nigerian government?**

Mike Adenuga has had a generally good relationship with the Nigerian government. He has been recognized for his contributions to the economy and has received national awards, including the Grand Commander of the Order of the Niger (GCON) in 2012.

8. **What are some of the challenges Mike Adenuga has faced in his business career?**

Mike Adenuga has faced several challenges in his business career, including regulatory issues, competition, and economic downturns. He has also had to navigate the complex and sometimes challenging business environment in Nigeria.

9. **What is Mike Adenuga’s investment philosophy?**

Mike Adenuga is known for his aggressive and strategic approach to business. He has been quoted as saying that he takes calculated risks and believes in the potential of the Nigerian market.

10. **What are some of Mike Adenuga’s hobbies and interests?**

Mike Adenuga is known to be a sports enthusiast, particularly in boxing and football. He has been involved in the promotion of sports in Nigeria and has sponsored various sporting events and teams. He also has interests in art and culture.