Business

Mike Adenuga Emerges Second Richest Nigerian As His Net Worth Bounces

Mike Adenuga, a telecom billionaire and oil baron in Nigeria, has regained his position as the country’s second-richest man with a net worth of $7.4 billion, surpassing Abdul Samad Rabiu who is now in third place.

Gatekeepers News reports that Forbes attributed this increase in wealth to its recent reevaluation of Adenuga’s mobile phone network, Globacom, which he founded and is currently the third-largest telecom service provider in Nigeria.

Adenuga had previously lost his position as the second-richest person due to a significant decrease in his net worth, but Forbes’ revised valuation has placed him back in the second-richest position in Nigeria, trailing only behind Aliko Dangote.

Adenuga’s net worth took a significant dip in June 2023, dropping to $3.6 billion from the initial $6.3 billion recorded in January.

The net worth of the Chairman of Conoil and founder of Globacom has fluctuated over the years, reaching $7.3 billion in 2022 and peaking at an impressive $10 billion in 2015.

Fehintola Ambali-Salam

Recent Posts

JUST IN: NAF Helicopter Crashes In Kaduna

An Air Force helicopter belonging to the Nigerian Air Force in the early hours of…

48 mins ago

Miyetti Allah Warns Members Against Extortions

Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN) has warned its newly elected states’ executives…

2 hours ago

Newspaper Headlines: Five Things You Need To Know This Morning

Newspaper Headlines: Five Things You Need To Know This Morning Dollar To Naira Exchange Rate…

6 hours ago

Recruitment: Apply For Fan Milk Recruitment 2024

Recruitment, apply for Fan Milk recruitment 2024 below. Gatekeepers News reports that Fan Milk Plc is a…

7 hours ago

Recruitment: Apply For Kuda Bank Recruitment 2024

Recruitment, apply for Kuda Bank recruitment 2024 below. Gatekeepers News reports that Kuda Bank is a full-service, app-based…

7 hours ago

Ramaphosa Unveils New Cabinet With Opposition Ministers

South African President Cyril Ramaphosa has unveiled a new cabinet, featuring opposition politicians in key…

7 hours ago