The report attributes this setback to the performance of his Conoil holdings and the persistent devaluation of the Nigerian naira against the U.S. dollar. Adenuga, known as Nigeria’s third-richest individual, has built his wealth through telecommunications and oil production ventures.
According to a report by Nairametrics, Adenuga’s net worth has plummeted by $300 million, dropping from $3.6 billion just three months ago to the current estimation of $3.3 billion.
This recent decline in net worth follows a significant loss Adenuga suffered in July when his worth dropped by $2.7 billion.
