Generational Leadership: Adenuga’s Daughters Drive Succession at Globacom and Conoil

In Nigeria’s fast-evolving business landscape, billionaire mogul Dr. Mike Adenuga is charting a clear succession path by positioning his children “particularly his daughters”, as strategic leaders within his sprawling empire.

Adenuga, the Chairman and CEO of Globacom and Conoil, is Africa’s fifth-richest individual with an estimated fortune of $6.3 billion, according to Forbes. Over the decades, he has built the Mike Adenuga Group into a diversified conglomerate spanning telecommunications, oil and gas, construction, banking, real estate, and aviation.

Now, in a deliberate succession strategy, his children are taking up leadership roles to safeguard the legacy and future of the business. Among them, three daughters—Bella Disu, Afolasade Michael-Adenuga, and Abimbola Michael-Adenuga—are at the forefront of decision-making in the group’s flagship companies, Globacom and Conoil Plc.

Bella Disu: The Telecoms Strategist
Bella, Adenuga’s fourth child, has been with Globacom for over two decades. Rising through the ranks, she became Executive Vice Chairman in 2019, making her the second-in-command after her father. Beyond telecoms, she runs Cobblestone Properties and Estates, chairs Abumet Nigeria (a Julius Berger subsidiary), and sits on the board of Julius Berger Nigeria, where she leads the strategy committee.
Her contributions extend into cultural diplomacy as director of the Alliance Française Mike Adenuga Centre, earning her recognition from the French Government in 2019 with the Chevalier dans l’Ordre des Arts et des Lettres.

Afolasade Michael-Adenuga: Legal Backbone of the Group
Afolasade, a trained lawyer, currently serves as Group Executive Director (Legal) at Globacom. Her role covers legal advisory, customer care, marketing, and business development strategies. With qualifications including a Master’s in International Commercial Law from the University of Reading and a Mini MBA from King’s Business School, she represents the governance and compliance strength of the Adenuga empire.

Abimbola Michael-Adenuga: Oil and Gas Executive
At Conoil Plc, Abimbola has held an executive director role since 2013. As part of the executive board committee, she oversees corporate strategy, resource allocation, and operational efficiency. She also sits on the operations review committee, where she plays a pivotal role in shaping Conoil’s financial and administrative policies.

The Wider Adenuga Family Involvement
Other Adenuga children have also contributed to the business group at different times. Oyindamola and Babajide previously served on Conoil’s board, while Paddy, Eniola, and Adeniyi have held executive roles across Globacom and Conoil Producing. Some, like Paddy and Eniola, now run independent ventures in oil brokerage and digital services but remain connected to the Adenuga legacy.

A Model of Family Succession in Nigerian Business
The Adenugas’ approach mirrors similar succession models among Nigeria’s wealthiest families, such as the Dangotes and the Rabiu-led BUA Group. By gradually integrating the next generation into leadership, Dr. Adenuga is not only protecting the future of his companies but also reinforcing the importance of continuity in Nigeria’s private sector.

With Globacom expanding its telecom footprint and Conoil remaining a key player in downstream oil and gas, the next chapter of the Adenuga empire appears firmly in the hands of his daughters, ensuring that the “Bull” of Nigerian business has successors ready to keep charging ahead.