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By Stellamaris Ashinze<\/p>\n
Mr Dave Agboola, has described Dr Mike Adenuga Jr., the Chairman of Globacom as \u201cone of the most consequential yet least understood figures in Nigeria\u2019s economic history\u201d whose decades of strategic investments continue to redefine indigenous enterprise.\u2019\u2019<\/p>\n
Agboola, \u00a0the Chief Press Secretary to the Speaker, Lagos State House of Assembly, lauded Adenuga in an article made available to the News Agency of Nigeria (NAN) on Thursday.<\/p>\n
In \u00a0the article, evaluating the impact of the top Nigerian entrepreneurs, Agboola noted that while nations were often remembered through elected leaders, they were equally shaped by the business builders they produced.<\/p>\n
He categorised Adenuga alongside industrial giants such as Aliko Dangote, Tony Elumelu, and Femi Otedola, highlighting his unique economic footprint.<\/p>\n
Agboola observed that known as both the \u201cGentle Giant\u201d and \u201cThe Bull,\u201d Adenuga had spent more than four decades reshaping Nigeria\u2019s economy.<\/p>\n
This was while consistently avoiding public attention, choosing instead to let his business ventures speak for themselves.<\/p>\n
\u201cThey have been remarkably chatty,\u201d Agboola noted, adding that \u201cfrom telecommunications and oil to banking, real estate, aviation, sports, and entertainment, Adenuga built enterprises that touched virtually every strategic sector of the Nigerian economy.<\/p>\n
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\u201c His companies have done more than create wealth. They have challenged monopolies, expanded access, created jobs, and strengthened indigenous participation in industries long dominated by foreign interests.\u201d<\/p>\n
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Highlighting the telecommunications sector, Agboola recalled that when Globacom entered the market in 2003, mobile communication remained too expensive for ordinary citizens until Adenuga\u2019s intervention disrupted established norms.<\/p>\n
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\u201cHis introduction of per-second billing changed the game.<\/p>\n
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\u201cCompetitors were forced to rethink their pricing models, and millions of Nigerians suddenly gained more affordable access to communication.<\/p>\n
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\u201c It was not merely a clever marketing strategy. It reshaped an industry,\u201d Agboola wrote.<\/p>\n
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He emphasised that Globacom\u2019s deployment of the Glo-1 submarine cable and extensive fiber-optic infrastructure laid the groundwork for Nigeria\u2019s digital future.<\/p>\n
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\u201cMore than two decades later, Globacom remains Nigeria\u2019s only wholly indigenous telecommunications giant.<\/p>\n
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\u201cIn a capital-intensive industry dominated by global players, that achievement is both commercial and symbolic.<\/p>\n
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\u201cIt demonstrates that Nigerian-owned companies can compete at the highest level and win.\u201d<\/p>\n
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Examining Adenuga\u2019s footprint in energy and finance through Conoil Producing and Equitorial Trust Bank, Agboola stated that Adenuga challenged the assumption that only multinational corporations could operate energy assets at scale.<\/p>\n
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\u201cLong before \u2018local content\u2019 became a policy buzzword, Adenuga was already practicing it.<\/p>\n
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\u201cHis success challenged the notion that world-class energy companies had to come from somewhere else.<\/p>\n
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\u201cHis banking investments advanced financial inclusion based on the simple philosophy that `people cannot build wealth, grow businesses, or participate fully in the economy if they remain outside the financial system;.\u201d<\/p>\n
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Addressing his investments in real estate, corporate aviation, sports, and culture, Agboola explained that Adenuga recognised soft power long before it became fashionable policy language.<\/p>\n
He noted that Adenuga\u2019s support for football and entertainment projected Nigerian talent globally while building national confidence.<\/p>\n
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\u201cBefore becoming one of Africa\u2019s richest businessmen, Adenuga worked as a taxi driver in New York while pursuing his education.<\/p>\n
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\u201c His rise from modest beginnings to the summit of African business has become part of Nigerian entrepreneurial folklore.<\/p>\n
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\u201cYet the significance of his story is not simply the wealth he accumulated,\u201d Agboola observed.<\/p>\n
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Concluding his tribute, Agboola wrote: \u201cMost business leaders are remembered for the companies they build.<\/p>\n
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\u201c A much smaller group are remembered for changing entire industries. Mike Adenuga belongs firmly in the latter category.\u201d<\/p>\n
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\u201cMike Adenuga is more than a billionaire. He is a nation-builder, a disruptor, a patron of culture, and a powerful symbol of indigenous enterprise.<\/p>\n
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\u201cHis legacy extends far beyond market valuations and rich lists.<\/p>\n
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\u201cThe ultimate measure of his contribution may be the idea he has spent decades proving: that Nigerian-owned companies can innovate, compete, and succeed on the global stage,\u201d Agboola said. (NAN)www.nannews.ng<\/p>\n
Edited by Vivian Ihechu<\/p>\n","protected":false},"excerpt":{"rendered":"\u00a0 \u00a0 By Stellamaris Ashinze Mr Dave Agboola, has described Dr Mike Adenuga Jr., the Chairman of Globacom…\n","protected":false},"author":2,"featured_media":908962,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[45,49,48,46],"class_list":["post-908961","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-ca","tag-canada","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/908961","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=908961"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/908961\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/908962"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=908961"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=908961"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=908961"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}