Chief Adebayo Adekola Adelabu, OFR, popularly known as Bayo Adelabu, is a Nigerian banker, accountant, politician, and the current Federal Minister of Power under President Bola Ahmed Tinubu. Born on September 9, 1970, in Ibadan, Oyo State, he comes from one of the most distinguished families in Yorubaland his grandfather is the legendary Adegoke Adelabu, one of the most celebrated figures in Nigeria’s pre-independence political history. Bayo Adelabu has built his own impressive legacy across banking, finance, and public service over more than three decades.
Bayo Adelabu Profile
| Name | Bayo Adelabu |
| Real Name | Adebayo Adekola Adelabu |
| Date of Birth | 9 September 1970 |
| Age | 56 years |
| State of Origin | Oyo State |
| Tribe | Yoruba |
| Nationality | Nigerian |
| Occupation | Banker, Accountant and Politician |
| Religion | Christianity |
| Marital Status | Married |
| Net Worth | $45 Million |
| Copied from | contents101.com |
Educational Background
Bayo Adelabu attended Ibadan Municipal Government Primary School, Agodi, from 1976 to 1982, before moving to Lagelu Grammar School, Ibadan, from 1982 to 1987. He graduated with a First Class degree in Accounting from Obafemi Awolowo University, Ile-Ife one of Nigeria’s most prestigious universities. He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and a Fellow of the Chartered Institute of Bankers of Nigeria. He is also an Associate Member of the Institute of Directors of Nigeria and of the United Kingdom.
He has pursued advanced professional development at some of the world’s top business institutions, including Harvard Business School, Stanford, Wharton (University of Pennsylvania), Columbia Business School, Kellogg School of Management, Euromoney, and the University of London.
Career
Adelabu began his career at PriceWaterhouse now PricewaterhouseCoopers, where he spent seven years leading audit and consultancy engagements for large banks and financial institutions both within and outside Nigeria. In 1999, he was seconded to the Central Bank of Nigeria, where he led the finance team on the CBN re-engineering and corporate renewal project tagged Project EAGLES.
He left PricewaterhouseCoopers in 2000 to join First Atlantic Bank as Financial Controller and Group Head of Risk Management and Controls. He rose through the ranks, becoming Chief Inspector of the Bank in 2002 and Group Head of National Public Sector Business in 2003. He subsequently moved to Standard Chartered Bank as West African Regional Head of Finance and Strategy for Consumer Banking, with dual offices in Lagos and Accra.
In 2009, he was appointed Executive Director and Chief Financial Officer (CFO) of First Bank of Nigeria Plc, Nigeria’s largest bank, at just 39 years old. He also served on the boards of several major institutions, including the Nigeria InterBank Settlement Systems (NIBSS), the Financial Institution Training Centre (FITC), the Federal Inland Revenue Service (FIRS), Nigeria Security Printing and Minting Company (NSPMC), the Assets Management Corporation of Nigeria (AMCON), and the Nigeria Incentive-Based Risk-Sharing System for Agricultural Lending (NIRSAL).
In February 2014, President Goodluck Jonathan appointed him as Deputy Governor, Operations, of the Central Bank of Nigeria one of the most senior positions in the country’s financial system. Adelabu resigned from the CBN in 2018 to pursue a political career. He contested the 2019 Oyo State governorship election under the APC banner but lost to Seyi Makinde of the PDP. In 2022, he again contested the governorship under the Accord Party following a primary loss to Teslim Folarin, but lost again to Makinde. He rejoined the APC in 2023, and President Tinubu appointed him to the 28 member ministerial list in July 2023. He was sworn in as Minister of Power on August 16, 2023.
As Minister of Power, he has focused on addressing Nigeria’s persistent electricity challenges including grid instability and distribution inefficiencies. In October 2025, he declared his intention to contest the 2027 Oyo State governorship election, but as of March 2026, he remained in office, stating that resolving power supply challenges was his immediate priority.
Controversies
Adebayo Adelabu has faced significant public criticism between late 2025 and early 2026, repeated national grid collapses left homes and businesses without electricity, causing losses and frustration. Consumers expressed dissatisfaction with rising tariffs under the Band A system, which some felt were not matched by improvements in supply.
Additionally, statements suggesting that Nigerians misuse electricity or that power is underpriced were widely perceived as out of touch, further fueling public discontent. Reports of government facilities moving to independent power sources also raised questions about his commitment to the national grid, highlighting a gap between policy intentions and visible results.
Bayo Adelabu Social Media Handle
https://www.instagram.com/bayo_adelabu
Personal Life
Adelabu was born to Aderibigbe Adelabu of the Oke-Oluokun compound, Kudeti Area in Ibadan. Bayo Adelabu is a businessman and entrepreneur in addition to his public service career. He is the Group Chairman of Bayse One Group of Hotels and of Best Western Plus Hotels, Ibadan, and also owns Bayse One Farm. He was honoured with the national title of Officer of the Order of the Federal Republic (OFR) on October 11, 2022.
Bayo Adelabu Net Worth
Bayo Adelabu’s net worth is estimated to be around $45 million.