Reno Omokri
In my opinion, Dr. Mike Adenuga is the best thing that has happened to corporate Nigeria in that he has introduced non-exploitative investment that provides a service that keeps Nigeria functioning.
How do I mean?
When on Wednesday, March 13, 2024, Yemeni Houthi rebels caused damage to the Red Sea submarine cables, the digital economies of thirteen African nations located on the West African seaboard were shut down.
According to one rating agency, over $7.6 billion was wiped out of these countries’ economies, with Ivory Coast, Liberia, Senegal, and Ghana the worst hit.
But Nigeria was able to stay afloat because while other West African nations depended on exploitative investments from telcos like MTN, Airtel and the like, who would not invest the capital necessary to make those countries telecommunicationally self-reliant, Nigeria had Dr. Mike Adenuga, who had invested $800 million on The Glo-1 submarine cable system, which ensured that Nigeria could always communicate with the rest of the world without depending on a foreign power.
As a result, while these other African nations were shut out of the Society for Worldwide Interbank Financial Telecommunications (SWIFT), Nigeria was spared.
Every bank and other financial institution operating in Nigeria owes Dr. Mike Adenuga a debt of gratitude that I am not sure they will ever repay.
Dr. Mike Adenuga spearheaded the type of patriotic investment that adds value to Nigeria, repleted our foreign exchange instead of depleting it, like some other behemoths are doing, and helped stop the capital flight of $12 million a day to South Africa and India by providing GSM service at per with MTN and Airtel and keeping the profits in Nigeria.
And his developmental tentacles do not stop there.
What would Nigeria’s music industry be like without the Adenuga touch?
Until Dr. Mike Adenuga made them Glo Brand Ambassadors in August 2010, they were local musicians. The Adenuga Midas touch made them go from local to global in a year.
He had them on CNN with other Glo-backed artistes for the Glo with Pride campaign, which blew our artistes up worldwide.
Glo also put Psquare on billboards and magazines all over Africa, and because of that, it grew and blew.
As they exploded, global interest in Nigerian music grew. Other telecom companies started joining him in the foray of celebrity brand ambassadorial appointments, which helped make Afrobeats mainstream. Today, we are still reaping the multiplier benefits of that Adenuga touch with phenomena like Detty December, a spinoff of the global success of Afrobeats.
But it is in charitable endowments that Dr. Adenuga really outdoes himself. Yet, this is the very same aspect of his life that is most kept under wraps.
Many Nigerians do not even know that the Mike Adenuga Foundation exists. Annually, the foundation awards $20.5 million in scholarships to deserving indigent scholars to attend local and international schools.
No state government in Nigeria invests more in scholarships than the Mike Adenuga Foundation. That says a lot!
And it is not just those who struggle with finances. Glo arguably invests more in human capital development than federal ministries, departments, and agencies.
They have sent their Nigerian citizen staff to the Huawei Campus in China and Alcatel-Lucent University in France to learn state-of-the-art telecommunications technology.
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From his birth to a schoolteacher in Ijebu Ode, on Wednesday, April 29, 1953, to his educational sojourn in the United States, where he paid his fees by working as a cab driver, to his return to Nigeria, where he engaged in trading in the 1970s, Dr. Mike Adenuga has shown a consistently brilliant streak.
And a grateful nation has noticed, which is why he deservedly holds the title of Grand Commander of the Order of the Niger (GCON). In 2018, he became the first Nigerian to be decorated with the French National Award of Commander of the Legion of Honour.
Happy 72nd birthday, Dr. Mike Adenuga Jr. You are one Nigerian I am so proud of because you fill me with hope for Nigeria and pride in my nation.
I wish you many happy returns of the day, and may your offspring continue to serve Nigeria and humanity as they follow in your footsteps.
