If the story of the revolution of telecommunication in Nigeria is to be scribbled, the name Dr. Mike Agbolade Ishola Adenuga Jnr. And Globacom would be a recurring decimal. Yes because Adenuga used Globacom as the quintessential game changer. At the twilight of the revolution of mobile communication in Nigeria; the Government owned and controlled NITEL was controlling the fortunes of Nigerians as regards telephone communication. At that time, it was a herculean task to make calls or receive calls as they had a series of complaints of fault here and there. Because of the teeming customers with high demands, NITEl was lagging in providing service that gave some investors in the telecommunication sector the foresight to block the lacuna created by erstwhile NITEL as the Government also wanted a lasting solution to the impending and recurring issues.
On the 19th of January, 2001, the story of the telecommunications industry was going to change for good inside the NICON Hilton Hotel, Abuja at the open bidding for the three GSM licenses conducted by the Nigerian Communications Commission, NCC. That very day, providence ushered the eloquent but reserved Adenuga through his company, Communications Investment Limited, CIL who emerged victorious as one of the winners of the three slots auctioned by the government alongside the then Econet Wireless Nigeria Limited now Airtel and Mobile Telecommunications Networks, MTN and M-tel, a state-owned Nigerian Telecommunications Limited who got the fourth slot.
That audacious move for Adenuga was widely applauded because it was the only indigenous company that bid for the license and won it. It was a sentiment many people shared that a Nigerian is going to start up a telecommunication firm. As the move was being celebrated along the length and breadth of the country, Adenuga was already thinking of how to hit the ground running in meeting the necessary criteria for the bid. He was to pay a non-refundable deposit of $20 million. As this sad reality set in when several multinationals were running helter-skelter to ensure they buy out the bid he won with their heavy financial war chest, a dogged Adenuga his quest for a digital mobile telephone licence spurred him to do what many businessmen would not have thought of. Despite not being able to meet up with the balance for the licence running into millions of dollars, his licence was revoked. Despite the CIL’s financier; BNP Paribas who contacted a bank in the United States to pay the Central Bank of Nigeria the said fee, due to some internal issues the payment didn’t come at the stipulated time which caused a forfeiture of the license as well as the non-refundable $20 million deposit.
A dogged and unperturbed Adenuga indeed moved back like the proverbial ram who during a fight moves back to strike with more firepower. Despite being disappointed at the way the deal went; his dreams still remained the utmost goal as he kept them burning like wildfire. Instead of the tsunami directed to sink his sailing ship, like a skilled sailor, he sailed against the tides and brought back to life his unquenchable desire to pioneer the first mobile telephone company in Nigeria and African soil. On the 29th of August, 2003, the Ibadan-born Ijebu-Igbo business magnate ignited his dreams and Globacom came into existence. In a bid to show those he met in the business that Globacom is a fresh gust of summer wind, what many of his competitors said was impossible to charge subscribers Per Minute on call; Globacom through Adenuga crashed that idea with a ‘per second billing’ plan which was regarded first of its kind in the country as there was a massive exodus of people migrating to Globacom. In his strategy to ensure all Nigerians further feel the new wind blowing, he demystified the myth of indigenous companies always playing second fiddle as he crashed the prices of sim cards. This made his competitors sit tight.
As Globalcom celebrated its 20th year of existence in the telecommunication business on Tuesday the 29th of August, the unsung hero Adenuga has remained consistent in his ideas and approach thereby making communication easy for all. Despite not taking credit for the mammoth work he did, history will forever be kind to him for standing tall for Nigeria. Investing heavily in the entertainment industry by sponsoring concerts, soccer tournaments and events has also witnessed a boom in Nigeria’s entertainment and African sports sector. His commitment also allowed our music to gain global recognition through his promotion and showcasing of adverts featuring Nigerian artists in foreign media with their music. The Bull is never relenting in ensuring revolution in the telecommunication business as he is advancing to move to the newest 5G network as a means of revolution in the telecom industry.
