Mike Adenuga’s Gift of Foresight

 

FUNSHO AROGUNDADE

One major asset that has practically stood Dr. Mike Adenuga Jnr apart is his ability to see the big picture ahead before most people do. His ability and readiness to take any risk —as seen in his foray into oil exploration and later, telecommunications— has made his business prowess and foresight.

He always tread where other investors are afraid to try. Before Adenuga’s foray into the telecom ecosystem, other companies who launched ahead of him claimed a per second billing system would not allow return on investment. But the billionaire debuted with it and changed the landscape. This is because Adenuga believes in the power of possibilities.

That Adenuga’s chutzpah gave birth to the audacious 9,800km-long Glo 1 submarine cable project.

Not a few would remember when in October 2010, against all odds, Adenuga singlehandedly brought the submarine cable initiative to bear in Nigeria.

At that time, it was an extremely intricate and expensive investment which broke the monopoly of the only epileptic one in existence owned by NITEL.

It was technology at its highest as it entailed laying submarine cables under the belly of the ocean from Europe to Lagos with landing stations in 14 African countries and further extending connectivity to all major countries in the world with a dedicated extension to the United States of America.

Adenuga, fondly called ‘The Bull’, boasted then that ‘things are no longer going to be the same again’ and indeed, things has never stayed the same ever since as Glo 1 roared to life.

Aside becoming the pivotal in propelling Glo to its enviable position and giving the telecoms giant a head start over competition, many other companies in the ICT, financial industry and other allied sectors rely on Glo 1 to boost their operations.

It’s pertinent to admit that in recent times, Adenuga’s daring move has encouraged few others to plunge into the same venture —including global brands such as Meta and Google— but Glo 1 remains the doyen.

His gift of foresight came to bear recently when Nigeria and some other African countries experienced massive internet outages following damage to international undersea cables supplying the country with connectivity.

The damage affected major undersea cables —owned by about four other companies— near Abidjan in Côte d’Ivoire and led to internet downtime across West and South African countries. Many telecom companies and a number of banks which rely on those affected cables for internet services were badly affected by the outage.

However, Adenuga’s Glo 1 was not affected by the damage as data users, internet service providers and financial institutions which run on Glo 1 have continued to operate normally.

Industry analysts believe the sturdy nature and resilience of Glo 1 International Submarine Cable is the reason the damage did not affect the cable.