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Media specialist, Lekan Otufodunrin has described Globacom founder, Chief Mike Adenuga Jr., as a businessman who has never settled for less, saying few phrases capture his entrepreneurial journey and lifelong commitment to excellence better than the telecom giant’s latest campaign message, “Never Settle for Less.”
Otufodunrin made the observation at the unveiling of Globacom’s brand philosophy in Lagos, ahead of the company’s 23rd anniversary. He urged Nigerians to pursue excellence in all their endeavours, describing it as a pathway to success in an increasingly competitive world.
Several personalities who embody Glo’s renewed drive shared compelling stories of resilience at the event. Fashion entrepreneur Mai Atafo spoke about leaving a secure corporate position to establish his own design label. Veteran journalist and broadcaster Dr. Reuben Abati recounted how repeatedly pushing beyond his comfort zone helped propel his career, while music star Chike recalled his early performances before progressing to sold-out shows.
Otufodunrin said the stories, like those of others featured at the event, reflect the resilient spirit Globacom seeks to promote. He noted that the story of its founding chairman, a major player in the telecommunications, oil and banking sectors, offers an even more compelling lesson in audacity, resilience and refusing to accept limitations.
“For Chief Adenuga, only the best is good enough.”
Adenuga once said: “Leading the pack is the only worthwhile resolve for the achiever. There is no room for second place. It is often said that it is not the winning that counts, but the participation. It is not the mere participant, but the achiever, the winner, the leader who makes the difference that advances the course of humankind in the judgement of history.”
That Globacom has grown into a major telecommunications company over the past 23 years is a testament to the vision of a businessman who saw possibilities where others saw obstacles and dared to compete in an industry dominated by international operators.
Adenuga’s first conditional GSM licence, obtained in 1999, was subsequently revoked. Rather than abandon his ambition, he returned to the arena, successfully applying for and securing the Second National Operator (SNO) licence in August 2002. The licence gave Globacom the right to operate as a national carrier, provide digital mobile services and serve as an international gateway.
Since its commercial launch in 2003, Globacom has continued to challenge established norms in the Nigerian telecommunications market. One of its early defining innovations was per-second billing, which enabled subscribers to pay according to the actual duration of their calls rather than being charged for unused portions of a billing period.
The company also demonstrated its willingness to think beyond conventional industry models through its investment in Glo-1, the 9,800-kilometre submarine fibre-optic cable linking Nigeria to the United Kingdom. The cable became operational in 2010, representing another major investment in the infrastructure needed to support Nigeria’s digital future.
For many Nigerians, Globacom represents more than a telecommunications company. It is a distinctly Nigerian enterprise that has competed with global players, expanded beyond the country and become a source of national pride.
Adenuga’s contributions, however, extend beyond telecommunications. Through his personal initiatives and companies, he has supported causes and institutions in education, healthcare, the arts, culture and sports, contributing to the development of the country.
His entrepreneurial journey began long before Globacom. Before entering telecommunications, he ventured into the oil business after obtaining a drilling licence. In 1991, his company, Consolidated Oil, was reported to have struck oil in the shallow waters of Ondo State, making it the first indigenous Nigerian oil company reported to have discovered oil there in commercial quantities.
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His rise also reflects determination in the face of personal challenges. Unable to rely entirely on conventional means to fund his education abroad, he reportedly worked as a taxi driver while studying. He eventually graduated from Northwestern Oklahoma State University and Pace University in New York with degrees in Business Administration.
He is also reported to have made his first million in 1979, at the age of 26, through the sale of lace and the distribution of soft drinks.
On his 73rd birthday on April 29 this year, President Bola Tinubu described Adenuga as a colossus who had left an imprint of excellence on Nigerian enterprise across telecommunications, real estate, banking, and oil and gas.
Describing him as a guru and a businessman with the Midas touch, President Tinubu said Adenuga’s life was “an affirmation of the audacity of hope, belief, and vision.”
“From humble beginnings, he rose to become one of Africa’s finest entrepreneurs,” the President said, adding that his achievements demonstrate the possibilities within Nigerian enterprise and serve as an inspiration to younger generations.
In 2018, when conferring one of France’s highest honours on Adenuga, then-President Emmanuel Macron described him as possessing an “incomparable spirit of entrepreneur, tenacity and ability to think out of the box.”
Such tributes are hardly surprising given Adenuga’s record across the sectors in which he has invested.
Globacom, in particular, stands as perhaps the clearest expression of his refusal to settle for less. It demonstrates that a Nigerian-owned company can compete in a capital-intensive, technology-driven industry while aspiring to global relevance.
It is therefore understandable that Adenuga is known among his close associates as “the Bull.” The nickname reflects his determined and forceful approach to business. Like the animal, he is known for persistence, pushing through obstacles rather than retreating from them.
Yet, despite his enormous wealth and influence, Adenuga has largely avoided the public spotlight. He rarely seeks acclaim or grants interviews, preferring his accomplishments to speak for him.
There are valuable lessons in that approach. His business career exemplifies the importance of vision, resilience, calculated risk-taking and an unwavering commitment to excellence. His ambition was not merely to build another telecommunications company, but to create one capable of competing, innovating and expanding.
Twenty-three years after Globacom began its commercial journey, “Never Settle for Less” has become the company’s latest expression of that ambition.
And while the campaign may not have been designed as a tribute to its founder, few people embody its message more convincingly than Chief Mike Adenuga.
