The year 2024 is really a positive year so far for Nigeria’s second-richest man, Dr Mike Adenuga.
The wealthy businessman has recorded a substantial increase in his net worth.
According to data tracked by Forbes, Adenuga’s fortune has grown by $600 million in 2024 so far, rising from $6.1 billion in 2023 to $6.7 billion this year.
At one point during the year, his net worth even surged to $7.4 billion.
Adenuga, who built his wealth primarily through telecommunications and oil production, has solidified his position as a key player in Nigeria’s economy. His mobile network, Globacom, is the second-largest operator in Nigeria, boasting over 60 million subscribers. This substantial customer base has been instrumental in driving the company’s revenue growth and, by extension, Adenuga’s personal wealth.
Beyond telecommunications, Adenuga’s business interests extend to oil exploration through Conoil Producing, which operates six oil blocks in the Niger Delta.
His holdings are not limited to privately owned entities. He also has significant stakes in publicly traded companies, holding a 74% share in the gasoline firm Conoil Plc and just under 6% in the Nigerian bank Sterling Financial Holding.
The performance of Conoil Plc on the Nigerian Stock Exchange (NGX) has been particularly noteworthy this year. As of the latest trading day on August 30, 2024, Conoil Plc’s share price stood at NGN 144.00, reflecting a strong year-to-date performance.
The stock began the year at NGN 83.90 and has since appreciated by 71.6%, ranking it 16th on the NGX in terms of performance. Over the past three months, Conoil has traded a total volume of 11.3 million shares across 2,615 deals, valued at NGN 1.46 billion.
In June 2023, his net worth plummeted to $3.6 billion, down from $6.3 billion in January 2023, largely due to the unification of the naira and a downturn in the performance of his stake in Conoil.
Despite these fluctuations, he has demonstrated resilience and adaptability in navigating the complex economic landscape of Nigeria and beyond. His net worth reached a peak of $10 billion in 2015, and after dipping to $7.3 billion in 2022, his fortune has seen a notable recovery this year.
Iyabo Ojo’s Daughter Welcomes Tanzanian Lover To Their Home…Mum Reacts
Priscilla Ojo, daughter of actress Iyabo Ojo, has welcomed her boyfriend, Tanzanian singer Juma Jux, to Nigeria.
In a video shared on Instagram on Saturday, Priscilla had caused a stir online with her grand display for her Tanzanian singer boyfriend as he visits Nigeria, presumably for the first time.
In one of the clips, Priscilla had hired a convoy and dancers to welcome her lover to her country at the airport.
The couple were seen kissing as the dancers and security serenaded them.
Iyabo Ojo, also shared the video of the couple’s reunion on her Instagram, welcoming Juma to the family.
She captioned, “Welcome to Nigeria, the giant of Africa! Welcome to the Ojo family, where extra is our middle name welcome to Eko for show. Happy birthday in advance & please do enjoy your stay, you are deeply appreciated & loved.”
This reunion comes after Priscilla officially confirmed her relationship with Juma Jux in July.
She posted several intimate photos of herself and the singer on Instagram, captioning the posts with a simple yet profound “Mine.”
Juma Jux also shared pictures of their moments together. One particularly striking image shows Priscilla in a bikini, cuddling on Juma’s lap while he sits shirtless.
In response to the singer’s post, Priscilla expressed her deep commitment to the 34-year-old artiste, writing, “Forever with you.”
