Adelabu speaks on building luxury mansion in 2 years as minister

Minister of Power, Chief Adebayo Adelabu, has dismissed as false a report alleging that he built a luxury mansion within two years of assuming office and funded it through corrupt means during a period of electricity tariff hikes.

In a statement issued by his media aide, Femi Awogboro, Adelabu described the claim by an online platform as “false” and “mischievous.”

He explained that construction on the property began in November 2021 and was completed in August 2023 — a month before his appointment as Minister of Power in September 2023.

According to the minister, the building is a redevelopment of a property he originally constructed and publicly unveiled in 2010 while working as a senior banking and finance executive. The upgrade, carried out 12 years later, was intended to meet the demands of his expanded political and public engagements.

Adelabu said he had provided dated photographs, official building approvals, and correspondence to support his explanation, stressing that he is a long-time investor in real estate, hospitality, and agriculture, with projects spread across Ibadan and beyond.

He noted that public interest in the property heightened after a viral video showed him hosting Fuji star Wasiu Alabi Pasuma following the campaign flag-off for the Ibadan North Federal Constituency bye-election.

“Everyone knows my investments in hospitality and real estate, which have contributed significantly to job creation. Sahara Reporters’ baseless publication is an attempt to discredit me and undermine the administration of President Bola Ahmed Tinubu,” Adelabu said.

The minister demanded an immediate retraction of the publication, warning that failure to comply would leave him with “no choice but to pursue legal redress.”