Adebayo Adelabu
- Name: Adebayo Adekola Adelabu
- Birthdate: September 28, 1970
- Birthplace: Ibadan, Oyo state
- Occupation: Financial expert, businessman, politician
Born on September 28, 1970, in Ibadan, Oyo state, Adebayo Adekola Adelabu hails from a lineage of political significance, being the grandson of the notable pre-independence politician Adegoke Adelabu. He completed his primary education at Ibadan Municipal Government Primary School and proceeded to Lagelu Grammar School for his secondary education. Adelabu earned a first-class degree in Accounting from Obafemi Awolowo University, Ile-Ife. Furthering his expertise, he attended professional courses at esteemed institutions including Harvard, Stanford, Wharton, Columbia, Kellogg, Euromoney, and the University of London. He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and the Chartered Institute of Bankers of Nigeria, and an Associate Member of the Institute of Directors in both Nigeria and the UK.
Professional career
Adelabu commenced his career at PriceWaterhouse (now PricewaterhouseCoopers), where he managed audits and consultancy projects for major financial institutions. In 1999, he was seconded to the Central Bank of Nigeria (CBN) to lead the finance team on the "Project EAGLES" re-engineering initiative. He subsequently joined First Atlantic Bank as Financial Controller and Group Head of Risk Management and Controls, later becoming Chief Inspector and Group Head of National Public Sector Business. Adelabu served as West African Regional Head of Finance and Strategy for Standard Chartered Bank before he was appointed Executive Director and Chief Financial Officer of First Bank of Nigeria Plc at age 39. In February 2014, President Goodluck Jonathan appointed him as Deputy Governor, Operations, at the CBN.
Business ventures
Beyond his banking career, Adelabu has investments in hospitality, entertainment, agriculture, and real estate. He is the Group Chairman of Bayse One Group of Hotels, Best Western Plus Hotels in Ibadan, and Bayse One Farm.
Political career
Adelabu entered politics in 2018, resigning from the CBN to contest the Oyo state governorship under the All Progressives Congress (APC). Although he secured the party's nomination, he lost the 2019 election to Seyi Makinde of the Peoples Democratic Party. In 2022, after losing the APC primary, he joined the Accord Party and became its gubernatorial candidate for the 2023 elections.
On August 21, 2023, Adelabu was sworn in as Nigeria's Federal Minister of Power under President Bola Ahmed Tinubu's administration. He pledged to collaborate with stakeholders to address the nation's power challenges, leveraging the Nigerian Electricity Act of 2023.
Personal life
Adelabu is married with children and is a member of various clubs, including the Jericho Businessmen Club, Ikoyi Club 1938, and Ibadan Golf Club. In recognition of his service, he was conferred with the national honour of Officer of the Order of the Federal Republic (OFR) on October 11, 2022.
