Daud Olatunji
A Professor of Communication at the University of Lagos, Tayo Popoola, has described billionaire businessman, Michael Adeniyi Agbolade Ishola Adenuga Jr., as a symbol of persistence and audacity, saying his telecommunications journey was shaped by his refusal to give up after an initial setback.
Popoola stated this while reflecting on the 23rd anniversary of Globacom, the telecommunications company founded by Adenuga.
According to him, Adenuga’s famous nickname, “the Bull,” aptly captures the businessman’s approach to challenges and his willingness to venture into highly competitive sectors.
Popoola recalled that Adenuga’s company was among those awarded a GSM licence during Nigeria’s first telecommunications licensing process in 1999, but the licence was subsequently revoked.
Rather than abandon his telecommunications ambition, he said, Adenuga returned to the sector in 2002 through Globacom and successfully secured the Second National Operator licence.
Globacom subsequently launched its mobile services on August 29, 2003.
Popoola said the development was significant because Glo entered a telecommunications market in which operators such as MTN and Econet had already established strong positions and enjoyed a head start.
He, however, noted that Globacom did not merely seek to replicate the business models of the existing operators.
Instead, he said, the company challenged prevailing industry practices, particularly with the introduction of per-second billing from its launch.
At the time, many Nigerian mobile subscribers were largely billed by the minute.
According to Popoola, Glo’s introduction of per-second billing, alongside efforts to reduce the cost of acquiring a GSM line, altered competition in the industry and prompted rival operators to introduce similar billing options.
He said the development demonstrated Adenuga’s approach of identifying opportunities and challenging established practices rather than being constrained by the advantages enjoyed by existing players.
“Glo came after the pioneers, but it found ways to make the pioneers respond,” Popoola said.
The professor argued that Globacom’s impact could not, however, be reduced to its pricing strategy.
He cited the company’s investment in the Glo-1 submarine fibre-optic cable as evidence of its broader telecommunications ambitions.
According to him, the approximately 9,800-kilometre cable connects Lagos with international landing points, including Accra and Bude in the United Kingdom, and entered service in 2010.
Popoola said the investment demonstrated that Globacom was not only interested in competing for subscribers but also in developing telecommunications infrastructure.
He noted that the company’s infrastructure investments included Glo-1 as well as domestic fibre and microwave networks.
The don also highlighted Globacom’s involvement in sports and entertainment, saying the company had succeeded in taking its brand beyond conventional telecommunications services.
He recalled that Globacom’s sponsorship of the CAF African Player of the Year Awards began in 2005 and became one of the company’s major international sporting associations.
Popoola said the strategy reflected the changing nature of telecommunications, arguing that consumers use connectivity not only for communication but also for business, entertainment, sports, information and access to opportunities.
He, however, acknowledged that Globacom’s 23-year journey had taken place amid major changes in the telecommunications industry.
According to him, the emergence of smartphones, mobile internet, streaming services and digital commerce has fundamentally transformed the sector, while operators have also had to contend with competition, infrastructure challenges, regulation and rapidly changing consumer expectations.
He therefore cautioned against equating longevity with perfection, describing Globacom’s 23-year presence in the industry instead as a demonstration of resilience.
Popoola said Adenuga’s business career across sectors, including oil and gas, banking and telecommunications, had similarly been characterised by persistence and long-term commitment.
He noted that the businessman had generally maintained a relatively low public profile despite the scale of his business interests, while his companies had continued to attract public attention through their commercial activities and investments.
According to him, Adenuga’s story and Globacom’s corporate journey intersect in their willingness to confront difficult challenges and pursue long-term objectives.
Popoola said the significance of Glo’s 23 years extended beyond the survival of a Nigerian telecommunications company, describing it as an example of what indigenous enterprise could attempt by challenging established market practices and investing in infrastructure.
He said the telecommunications landscape, technology and consumer expectations had changed considerably since Glo commenced operations in 2003.
But, according to him, the company’s journey remains associated with the persistence embodied by Adenuga’s “Bull” nickname.
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