Indeed, Mike Adenuga lives an opulent lifestyle, but what would you expect from the second richest man in Nigeria, owner of Globacom Telecommunications Network, and Chairman of Conoil Producing Limited?
He doesn’t have just one, but several lavish mansions spread across different states in the country, and regions beyond. Of all his real estate investments in the country, his private residence located in Banana Island, Lagos, has left many awestruck.
Banana Island is the most expensive and glamorous part of Lagos. It is home to many of the wealthiest people in the country and it’s no surprise it has earned a well-deserved catchphrase, “The Paradise Corner of Lagos”.
Surely, all wealthy business moguls and Nigerian celebrities would want a piece of it. This is where the Adenuga mansion is located.
Mike Adenuga’s House in Banana Island: All You Need to Know
This residence is not just a house, as you might have pictured it to be, but an estate. It covers a massive three hectares of land and is rumored to be the most expensive private residence in Nigeria. At the time of its construction, Mike Adenuga allegedly spent a whopping 8 billion naira (22 million U.S dollars) on the house.
Within the estate are nine duplexes. This is because Mike Adenuga is not the only one who lives there, but the lavish manor is home to his family and relatives as well. Several official meetings and formal events also take place in the mansion.
Mike Adenuga’s private residence is a two-story building, with white painted walls and brown windows/doors. This building also serves as his personal office. At the very center of the estate, you will find a gargantuan round building constructed with glass and concrete.
This building is indeed a sight to behold as it is covered from top to bottom with golden glass reflects. Despite the distinctively high fence surrounding the estate, this building can be seen shining visibly from outside the walls. No one really knows what goes on in there.
There are other conveniences within the estate that make it self-sufficient. This includes a church, mosque, a luxurious indoor swimming pool, a 200-seating capacity conference hall, a lofty car park (that boasts Adenuga’s fleet of plush cars), a private berth (that harbors his boats and yachts), and a heliport (for his two private jets).
The entire estate is also heavily guarded, as there are two watchtowers built for surveillance and security purposes. Julius Berger and Cappa & D’Alberto, two of the world’s best, are the construction companies that oversaw the building of the Adenuga mansion.
Mike Adenuga’s Biography
Chief Michael Adeniyi Agbolade Ishola Adenuga is a Nigerian multi-billionaire business mogul. He is the fourth richest man in Africa and according to Forbes, currently has a net worth of 6.2 billion dollars. This makes him the 395th richest man in the world today.
Mike Adenuga is of Yoruba descent. He was born on the 29th of April, 1953 (age 69 years), in Ibadan, Oyo state, Nigeria. He attended Ibadan Grammer School, where he completed his junior secondary education, and proceeded afterward to Aiyetoro Comprehensive High School, where he earned his first school leaving certificate.
He furthered his tertiary education overseas at North Western Oklahoma State University, where he bagged a degree in Business Administration. He also got his MBA in Business Administration from Pace University, New York.
Mike Adenuga amassed his fortune through telecommunication and oil production. However, his journey to the top wasn’t a bed of roses. He started out as a taxi driver in New York, the earnings from which he used to support his university tuition. Adenuga made his first million at the age of 26, through the sales and distribution of soft drinks and lace material.
He is the owner of Globacom (popularly known as Glo in Nigeria today) and the Chairman of Conoil Producing Limited. In 1990, he was granted a drilling license during Babangida’s regime and in 1991, began his oil exploration outfit (which we know today as Conoil) from the shallow waters of Ondo state.
He acquired his GSM license in Nigeria from the federal government in 1999 and started Globacom Telecommunications afterward. Over the years, Globacom has now grown to be the third largest mobile phone network operator in Nigeria with over 54 million subscribers.
The telecommunication company isn’t operational just in Nigeria, but in other West African countries as well. In 2008, Mike Adenuga extended its services to the Benin Republic, and further expanded it to Ghana and Cote ‘d’ Ivoire. He also has lofty stakes in many multinational companies.
Mike Adenuga has two wives, Adefolake Emilia Adenuga and Titi Joyce Adenuga, and they are blessed with seven children (5 girls and two boys).
Fun Facts About Mike Adenuga
For a man his status, you can only begin to imagine the kind of life he lives. He has dedicatedly worked his way up the ladder of success and earned his spot at the top. Here are a few fun facts about the iconic business mogul that you wouldn’t find anywhere else:
- Mike Adenuga spends almost all the hours of his day at his personal office. It is rumored that he sometimes works till as far as 1 AM at night.
- His private estate in Banana Island is on the same street as Aliko Dangote (The richest man in Africa).
- Mike Adenuga works around a very tight schedule. It is alleged that Aliko Dangote once wanted to pay him a visit, but couldn’t see him until a week later due to protocols.
- Mike Adenuga hardly attends parties.