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NIGERIANS IN DARKNESS AS POWER MINISTER, ADELABU, EXHIBITS HIS MANSION
A viral video of a mansion recently opened by the Minister of Power, Adebayo Adelabu, has sparked controversy on and off the Internet, raising various questions.
Popularly known as Penkelemesi, Adelabu was seen in a joyous mood in the one-minute-23-second video flanked by loyalists, including famous Fuji musician, Wasiu Alabi Pasuma. He grinned from ear to ear as he joined the crowd to sing his praises in chorus, hailing himself as the incoming governor of Oyo State.
“Penkele, Penkelemesi o n’boo (he’s coming), o fe de tan (he’ll soon come)….incoming…won jiyan si (they didn’t contest it); 2027, God punish devil. This is Government House,” the minister and some of his loyalists enthused back and forth as the camera flicked around the imposing white edifice.
It is worthy of note that the word Penkelemesi originates from the power minister’s grandfather’s description of a situation as a “peculiar mess”, during his days of prominence, but which some of his (the grandfather’s) semi-literate political allies mispronounced as Penkelemesi.
Adelabu consequently led his men on a tour of the luxurious villa, sauntering around its palatial living room.
The video has continued to generate heated debates on and offline, with many insinuating that the property is a product of the wealth Adelabu has amassed within two years of becoming a cabinet member of the President Bola Ahmed Tinubu government.
From the comments, many Nigerians were appalled by the showcase of the minister’s mansion, not totally because they fear “stolen funds” were used to rebuild it, but that Minister Adelabu should not be showcasing such at this moment considering his not too impressive record in office in his first two years as power minister.
The commenters feel that other than the unjustified hike in electricity tariffs, there is no significant increase in power supply across Nigeria under his watch.
However, Adelabu, in a statement by his media aide, Femi Awogboro, said the house was built between November 2021 and August 2023, before he assumed office as minister of power in September, 2023.
He said, “Adelabu began and completed the project before his appointment and only moved into the house quietly this year due to pressure of work and timing constraints.
“In fact, the minister has lived in the same location since 2010 (as a professional finance and banking executive) when the original house was built and publicly opened.
“This is just a rebuilt of the old house, 12 years after moving in to accommodate the increased stream of activities springing up from his venturing into politics.”
Mixed reactions
An X user, Faruk M, made a satire of the scenario, urging Nigerians to “go and install solar if you have money. He has used the money to stabilise power to build a house for himself,” in what he described as “friendly advice.”
But, one Oladele cautioned that Adebayo was “a billionaire,” who had excelled as a businessman long before his ministerial appointment.
“Allow me to clarify since you’re unfamiliar with Bayo. He was a billionaire long before taking office, a top hotelier in Ibadan. His grandfather was the wealthiest businessman in Ibadan, hailing from a family with generational wealth. I’m not his supporter, but his wealth has always been evident,” he wrote.
“Why didn’t he built (sic) this multimillion building before?,” one Prudent countered. “Una go just they cover things you know nothing about. Billionaire indeed! U r (you’re) a liar. It is our Band A money.”
A commenter with the alias 2mch on Nairaland, an online news blog, said the house was not new, but blamed the minister for being “reckless to be flaunting it in public.”
“Making it look like public funds. He’s trying to run for governor, that’s why he’s moving with the crowd. Bayo owns hotels and his own businesses and is a successful accountant before becoming minister. So, he can afford it.
“He’s running for Governor and probably does not see how flaunting that wealth looks. It looks like he’s starting his rally for the position. When one is wealthy sometimes, flashy things don’t phase (sic) them anymore, but it must be a lot to the poor followers and people viewing these videos,” 2much stated.
Another commenter, identified simply as Kunle, said, “Stolen wealth? I am not defending him, but he has done so well for himself before becoming a minister. Adelabu is a chartered accountant and also a chartered banker. He rose to become CFO (Chief Financial Officer) of First Bank and later a Deputy Governor of CBN. There are many properties he could have acquired on his own before becoming a minister. Not all wealth is stolen.”
“Oh, well, he made it look like public funds. That’s what it is. If not, why didn’t he flaunt his house when he was not a minister? How much billions of naira did he use to renovate his mansion? It’s too early for me to be angry about the brazen corruption in Nigeria,” one Beremx countered.
@uncensored_ng was somewhat indifferent about how Adelabu acquired the house, but expressed dismay at the minister’s celebratory mood at a time the country is facing economic hardship.
“Even at that, celebrating a house as a minister in a country currently in shambles is utterly insensitive. What was he expecting? Congratulations?,” the commenter queried.
@Olugbileol agreed, saying, “Let’s get it clear! The Minister might have enough money of his own! Nothing is bad about that! But displaying his mansion under the present economic upheavals in the country! It’s grossly insensitive to people’s plight! Wisdom is easy to direct!”
Who is Adelabu?
The power minister, who hails from Kudeti area in Ibadan, the Oyo State capital, is the grandson of the late Gbadamosi Adegoke Adelabu ‘Penkelemesi,’ a businessman and politician in the defunct western region, who was Nigeria’s Minister of Natural Resources and Social Services from January 1955 to January 1956.
A chartered accountant, Adelabu began his career with an international accounting and management firm, PricewaterhouseCoopers (PwC), where he spent about seven years, managing various audit and consultancy engagements for large banks and non-bank financial institutions within and outside Nigeria.
He left PwC in 2000 as an audit manager and senior consultant to join First Atlantic Bank as the Financial Controller and Group Head of Risk Management and Controls. He was subsequently promoted to Chief Inspector of the Bank in 2002 and Group Head of National Public Sector Business in 2003.
Adelabu later moved to Standard Chartered Bank as the West African Regional Head of Finance and Strategy (Consumer Banking Business) with offices in Lagos and Accra. His career blossomed as he became Executive Director/Chief Financial Officer (CFO) of First Bank of Nigeria Plc at 39. In February 2014, he was appointed Deputy Governor, Operations of the CBN by former President Goodluck Jonathan.
As a businessman, Adelabu invests in hospitality and he is the Group Chairman of Bayse One Group of Hotels, the Best Western Plus Hotel in Ibadan.
Adelabu began his political journey after he resigned from the CBN to run for governorship in Oyo State in 2019 under the All Progressives Congress (APC). Although he won the party’s ticket, he lost the election to Governor Seyi Makinde of the Peoples Democratic Party (PDP).
After losing the primary election to Teslim Folarin in 2022, he defected from the APC to the Accord Party and emerged as its governorship candidate in the 2023 election. He later reconciled with his former party and was included in President Tinubu’s 28-man ministerial nomination list on July 27, 2023, after which he was confirmed as minister.
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