August 16, 2023, President Bola Ahmed Tinubu shattered expectations by appointing the remarkable Mr. Bayo Adelabu (OFR), a former CBN deputy governor and Oyo state’s 2019 gubernatorial candidate for the All Progressive Congress, as the Minister for Power. Adebayo Adelabu was born on the 28th of September 1970 in Oyo State, He attended Ibadan Municipal Government Primary School in Agodi, Ibadan from 1976 to 1982.
He later enrolled at Lagelu Grammer School in Ibadan, where he studied from 1982 to 1987. Adelabu’s academic prowess shines with a first-class accounting degree from Obafemi Awolowo University, while his glittering credentials boast fellowships from Nigeria’s Institute of Chartered Accountants (ICAN) and the Chartered Institute of Bankers. A global force, he commands associate memberships in both Nigeria and the UK’s Institute of Directors.
Adelabu’s intellectual vigor radiates as he graduated from elite institutions including Harvard, Stanford, Wharton, Kellogg, Columbia, and the University of London, establishing his mastery. Venturing beyond the classroom, he seamlessly transitioned from PricewaterhouseCoopers (PWC) to the Central Bank of Nigeria (CBN), where he skyrocketed to the esteemed position of Deputy Governor of Operations. His leadership started at PwC, orchestrating influential financial projects across Nigeria’s banking landscape, a testament to his mettle. Embarking on a financial odyssey, Adelabu’s voyage led him through the ranks of First Atlantic Bank, Standard Chartered Bank, and finally to Nigeria’s financial epicenter as Executive Director and CFO of First Bank of Nigeria PLC at the awe-inspiring age of 39.
His chronicles reveal a meteoric ascent, crowned by President Goodluck Ebele Jonathan’s nod, anointing him Deputy Governor of Operations at the CBN. Championing transformative leadership, Adelabu’s benevolent reach extends to helming Nigeria’s Interbank Settlement Systems (NIBSS) and the Financial Institution Training Centre (FITC). Beholding numerous directorial mantles, from the Federal Inland Revenue Service (FIRS) to the Nigeria Security Printing and Minting Company (NSPMC), his impact cascades like a domino effect. Notably, he played a pivotal role in securing funding for Nigeria’s first Technical University located in Ibadan during Governor Abiola Ajimobi’s tenure. His contributions to Oyo State’s core developmental programs, particularly in Ibadan, earned him the esteemed title of “Agbaakin Parakoyi” of Ibadan land by the late Olubadan. He received national recognition as well, being honored with the Officer of the Federal Republic of Nigeria award by President Muhammad Buhari in 2022. However, Adelabu is no mere technocrat; he’s an enterprising luminary. Dabbling across hospitality, entertainment, agriculture, and real estate sectors, his entrepreneurial acumen mirrors his unrelenting commitment to a powerful Nigeria. With his new role as Minister for Power, Adelabu’s journey surges forward, promising a resplendent era of innovation, progress, and electrifying change.