Mike Adenuga holds talks with President Mahama

Key Points

• Mike Adenuga met privately with Ghana’s President Mahama in Accra, reinforcing discreet high-level ties between West African business and political elites.
• The visit underscores deepening Ghana-Nigeria cooperation in telecom, energy, and finance as Mahama steers Ghana’s economy toward recovery.
• Adenuga’s Globacom expands coverage in Nigeria, while Conoil debuts Obodo, a new crude grade developed with NNPCL from OML 150.

Nigerian billionaire and telecom mogul Mike Adenuga had a private meeting with Ghanaian President John Mahama at his residence in Accra on Monday. The visit, described as a friendly catch-up between longtime associates, highlighted the strong and ongoing connection between these two influential West African leaders.

Adenuga, often recognized as one of Africa’s most prominent businessmen and known as “The Spirit of Africa,” spent the day with Mahama in a warm and personal exchange. While details of their conversation were kept private, aides on both sides confirmed the visit, with Adenuga returning to Lagos that same evening.

Power moves uniting Ghana and Nigeria

As the founder of telecom giant Globacom and energy firm Conoil, Adenuga is known for maintaining close but discreet ties across political and business circles throughout Africa. His link with Mahama goes back several years. Since taking office as Ghana’s 14th president in January 2025, Mahama has played a key role in steering the country toward economic recovery.

Ghana’s cedi has strengthened by more than 40 percent against the U.S. dollar this year, outperforming many African and emerging market peers. This has helped reduce the cost of the nation’s foreign debt and eased fiscal pressures. This progress has come as a relief to many, marking an important step forward for Ghana as it recovers from a difficult economic crisis.

This latest meeting takes place amid growing cooperation in areas such as telecommunications, banking, and energy, sectors where Adenuga’s businesses are heavily involved. Though no formal agenda was shared, private talks like these often carry deeper significance, signaling solidarity among African leaders and entrepreneurs. 

Adenuga lauded for business, philanthropy

Adenuga’s visit also underscores the close ties among West African elites, whose networks influence discussions on economic progress and regional collaboration. It comes shortly after Mahama joined Nigerian President Bola Ahmed Tinubu in celebrating Adenuga’s 72nd birthday on April 29. At the event, Mahama praised Adenuga’s life as “a shining example of vision, resilience, and extraordinary accomplishment.”

He went on to say that Adenuga’s entrepreneurial spirit and dedication to excellence have “not only built enduring businesses but also contributed significantly to the socio-economic development of our continent.” The president added that Adenuga’s leadership and philanthropy continue to inspire generations across Africa.

Glo brings access to Kura: Conoil debuts new Nigerian crude grade

With a fortune estimated at $6.3 billion, Adenuga’s business empire is still growing. Earlier this month, Globacom expanded its network to Kura, a rural community near Abuja, bringing mobile connectivity to about 12,000 residents for the first time. Partnering with Chinese technology firm Huawei, Glo launched the service, which quickly gained widespread use.

Earlier this year, Globacom also opened a new Gloworld store in Maiduguri, Nigeria’s northeast region, which has faced significant infrastructure and security challenges. The store, featuring upgraded technology, is part of a broader effort to improve customer service in the area. At the same time, Glo is investing in Nigeria’s digital future. It opened its first digital innovation hub in Lagos and plans to open more centers in Port Harcourt, Ibadan, and Abuja by mid-2025. These hubs aim to support young tech entrepreneurs and create jobs as the digital economy grows.

Beyond telecoms, Adenuga is also deeply involved in Nigeria’s energy sector. His company, Conoil Producing, recently reached a milestone with the launch of Nigeria’s newest crude oil grade; the Obodo blend. Introduced in April 2025, this medium-sweet crude is produced through a partnership with the Nigerian National Petroleum Company Limited (NNPCL) and drilled from the OML 150 onshore block. Continental Oil & Gas Limited, part of the Conoil group, operates this and five other oil blocks across the Niger Delta.