Minister of Power, Adebayo Adelabu, has dismissed allegations that he constructed a luxury mansion within two years of his appointment, describing the claim as false, mischievous, and an attempt to tarnish his image.
A viral video by a media outfit had accused the Minister of flaunting an extravagant lifestyle allegedly funded through corrupt means, linking the supposed new mansion to his time in office amidst electricity tariff hikes.
In a statement signed by his Media Aide, Mr. Femi Awogboro, Adelabu clarified that the property in question was completed before his appointment as Minister in September 2023.
He explained that the building project began in November 2021 and was completed in August 2023, one month before his appointment. To back his claim, he provided dated photographs showing the construction stages, official building approvals, and other relevant correspondence.
“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,” he said.
Read also: NCoS struggles with mental health crisis in prisons
The Minister noted that he had lived 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. According to him, the current property is simply a redevelopment of the old house, undertaken 12 years later to meet the 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,” he stated.
Adelabu stressed that he has long been recognised as a prominent investor in real estate, agriculture, and hospitality, with visible projects across Ibadan and beyond.
He has now called on the media outlet to immediately retract this false and misleading report, warning that failure to do so could compel him to take legal action.
