Minister of Power Chief Adebayo Adelabu has denied claims by a media outlet that he constructed a luxury mansion within two years of his appointment, allegedly funded through corrupt means amid electricity tariff hikes.
In a statement through his media aide, Femi Awogboro, Adelabu described the report as “false, mischievous, and misleading,” accusing the outlet of attempting to tarnish his reputation.
He clarified that construction of the property began in November 2021 and was completed in August 2023, a month before his appointment as Minister in September 2023. The Minister provided dated photographs, official building approvals, and other correspondence to support his timeline.
“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 said.
He explained that he had lived on the same site since 2010, when he first built and publicly unveiled the original structure while working as a senior banking and finance executive. The current property, he added, is a redevelopment of that house, undertaken 12 years later to meet the demands of his political career.
“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.
Adelabu urged the media outlet to “immediately retract this false and misleading report,” warning that he may take legal action if it fails to comply.
