…Says property was completed before ministerial appointment
The Honourable Minister of Power, Chief Adebayo Adelabu, has strongly refuted a recent report by Sahara Reporters alleging that he constructed a luxury mansion within two years of his appointment, amidst the backdrop of electricity tariff increases.
In a viral video, Sahara Reporters claimed the Minister was flaunting an extravagant lifestyle funded through corrupt means, citing the construction of a new mansion allegedly completed during his tenure.
In a statement issued by his Media Aide, Mr. Femi Awogboro, Chief Adelabu dismissed the report as “false, mischievous, and calculated to tarnish my reputation.” He clarified that the building project commenced in November 2021 and was completed by August 2023—a month before his appointment as Minister of Power in September 2023. The Minister backed his claims with dated photographs documenting the construction process, official building approvals, and other relevant correspondence.
According to the Minister, he has long been recognised as a prominent investor in real estate, agriculture, and hospitality, with visible projects across Ibadan, the Oyo State capital, and beyond. “I began and completed this project before my appointment. I only moved in this year due to work schedules and timing constraints. The attention arose after a viral video of my hosting of popular Fuji musician, Alhaji Wasiu Alabi Pasuma, following the Ibadan North Federal Constituency by-election campaign flag-off,” Adelabu explained.
He further noted that he has resided in the same location since 2010, when he built and publicly unveiled the original structure during his career as a senior banking and finance executive. The current property, he said, is simply a redevelopment of the old house, undertaken twelve years later to accommodate the increased demands of his political engagements.
“Everyone is aware of my long-standing investments in hospitality and real estate, both within and outside Oyo State, which have contributed significantly to job creation. Sahara Reporters’ baseless publication is a failed attempt to discredit me and, by extension, undermine the administration of President Bola Ahmed Tinubu,” the Minister stated.
He called on the media outlet to “immediately retract this false and misleading report,” warning that failure to do so could compel him to pursue legal action.