Follow Us on Google
Media practitioner and public affairs analyst, Tayo Williams has described Globacom founder and Chairman, Dr. Mike Adenuga Jr., as a businessman whose philanthropic activities demonstrate a strong commitment to improving lives and supporting national development.
Williams said Adenuga had consistently translated his business success into initiatives aimed at addressing societal challenges, citing his contributions to security, healthcare, education, entrepreneurship and rural development.
According to the analyst, Adenuga, through Globacom, donated N1 billion to the Lagos State Security Trust Fund earlier this year to strengthen security infrastructure in Nigeria’s commercial hub.
He noted that the donation reflected Adenuga’s understated approach to philanthropy, adding that the businessman often made significant contributions without seeking public attention.
Williams also recalled Adenuga’s interventions during the COVID-19 pandemic in 2020, when Nigeria, like other countries, faced severe public health and economic challenges.
He said Adenuga donated N1 billion to support the Federal Government’s efforts to combat the pandemic, particularly through the Central Bank of Nigeria’s Private Sector Coalition Against COVID-19.
The analyst added that Adenuga subsequently donated N500 million to the Lagos State Government to support its response to the health crisis.
“Globacom soon became the fastest-growing telecommunications company in Africa, with an active subscriber base of over 23.68 million (as of June 2026) and a vast network of already laid fibre criss-crossing all parts of Nigeria and a submarine cable that runs from the United States of America to Lagos through the United Kingdom and 17 other European and African countries.
Before Globacom, he had founded and developed Devcom Bank and Equitorial Trust Bank into highly profitable companies that played active pioneering roles in developing the public, commercial and retail sectors of the economy. Later, the two companies were consolidated into one -Equitorial Trust Bank – which later merged with Sterling Bank Plc, with Dr Adenuga as the largest shareholder of the latter bank.”
“He owns a 25.1 per cent stake in construction giant Julius Berger, through Goldstones Estates Limited and also owns 74.4 per cent of Conoil, one of Nigeria’s largest petroleum marketing businesses, through Conpetro Limited.
“Conoil was the first indigenous company in Nigeria to explore, discover and produce oil in large commercial quantities, with the fastest on-stream production activity from licence award to the first production in only nine months. Aside from operating six oil blocks in the Niger Delta, Conoil is also the market leader in aviation fuels.
“Since his emergence on the socio-economic radar of Nigeria many decades ago, Dr Adenuga has steadily blurred the line between commerce and compassion. He has alchemised his economic successes into great philanthropy, touching and turning lives around across Nigeria and beyond. It is safe to say that philanthropy is at the heart of everything that the business titan does.
It is no surprise, therefore, that he holds Nigeria’s highest honour for a non-government official, the Grand Commander of the Order of the Niger (GCON), Ghana’s highest civilian national honour, the Companion of the Star of Ghana (CSG), and France’s highest national honour of Commander of the Legion of Honour (Chevalier de la Legion d Honneur),” he stated.
He further disclosed In a letter to Governor Babajide Sanwo-Olu at the time, Adenuga reportedly pledged to work with the state government and assist relevant institutions with essential supplies, including personal protective equipment.
Other News
Williams identified the Mike Adenuga Foundation as another major channel through which the businessman supports humanitarian and development initiatives across Nigeria and other African countries.
He said the foundation focuses on entrepreneurship, education, healthcare and rural development, while also supporting vulnerable populations, internally displaced persons, disaster relief efforts and responses to national health emergencies.
According to him, the foundation seeks to provide knowledge, skills, resources and infrastructure to promote enterprise, encourage innovation and improve living conditions.
Beyond philanthropy, Williams highlighted Adenuga’s contributions to Nigeria’s telecommunications, banking and petroleum sectors.
He recalled that Globacom introduced several telecommunications products and services to the Nigerian market, including multimedia messaging, international SMS connectivity, international prepaid roaming and personal ringback tones.
He also cited the company’s extensive fibre-optic infrastructure and its Glo-1 submarine cable, which connects Lagos to international telecommunications networks.
Before establishing Globacom, Adenuga built businesses in the banking sector, including Devcom Bank and Equitorial Trust Bank. Equitorial Trust Bank subsequently merged with Sterling Bank Plc.
Williams further noted Adenuga’s interests in the petroleum and construction industries, including Conoil and his reported stake in Julius Berger.
He described Conoil as a significant player in Nigeria’s petroleum industry, with operations spanning oil exploration, production and petroleum marketing.
According to Williams, Adenuga’s business activities and philanthropic interventions illustrate how private-sector resources can contribute to economic development and social welfare.
He added that the businessman’s contributions had earned him several national and international honours, including Nigeria’s Grand Commander of the Order of the Niger (GCON), Ghana’s Companion of the Star of Ghana and France’s Legion of Honour.
Williams said the recognition reflected Adenuga’s influence across business and philanthropy, arguing that his legacy should be measured not only by commercial achievements but also by the resources committed to improving lives.
He maintained that Adenuga’s approach illustrates how business success can be channelled towards addressing social needs and supporting communities across Nigeria and beyond.
