Meet Nigerian billionaire who defies naira devaluation, gains $600 million in months

  • Mike Adenuga, a telecom and oil magnate, has seen a rise in wealth of over $500 billion
  • As a result, he stands out among the country’s billionaires in an otherwise turbulent year
  • Adenuga’s net worth increased from $6.1bn at the start of the year to $6.7bn after a $600m gain since January

Legit.ng journalist Zainab Iwayemi has over 3-year-experience covering the Economy, Technology, and Capital Market.

Telecom and oil tycoon Mike Adenuga has seen his wealth increase by more than half a billion dollars, making him a rare exception among the nation’s billionaires in a year characterised by economic volatility and a sharp devaluation of the Nigerian naira.