Power Minister Bayo Adelabu Resigns to Chase Oyo Governorship; Proposes New ‘Energy Czar’ Role After Hitting 6,000MW Milestone

The Federal Executive Council (FEC) is set to lose one of its key technocrats as the Minister of Power, Chief Adebayo Adelabu, formally announced his resignation today, April 22, 2026. In a letter addressed to President Bola Tinubu, Adelabu stated that he will vacate his seat on April 30 to pursue his long-standing ambition to govern Oyo State in the 2027 general elections.

The resignation marks a strategic pivot for the former Central Bank Deputy Governor, who cited the provisions of the Amended Electoral Act 2026 as the primary reason for his timely exit. By resigning now, Adelabu intends to clear all legal hurdles that prevent serving appointees from engaging in active electioneering. “My decision to step down is informed by my intention to focus fully on my gubernatorial ambition in Oyo State,” the letter read, noting that this journey is a continuation of a vision that began during his time at the CBN.

Reflecting on his nearly three-year tenure, Adelabu presented a scorecard that emphasized structural stability over temporary fixes. He credited his team with driving peak power generation to a record 6,000 megawatts and overseeing a ₦4 trillion debt restructuring program that helped stabilize the market’s financial position. Most notably, he presided over the decentralization of the electricity market via the 2023 Electricity Act, a move that allowed state governments to begin generating and distributing their own power.

As a parting recommendation, Adelabu urged the President to consider creating a “Coordinating Minister for Energy” portfolio. He argued that the current separation of power and gas policies often leads to “gas-to-power” bottlenecks, and a central authority is needed to harmonize the entire energy value chain.

President Tinubu, in a meeting following the announcement, lauded Adelabu’s “dedication and the progress recorded” in a historically difficult sector. While the search for a successor begins, the political atmosphere in Oyo State has already been electrified by the news. With Adelabu officially entering the “trenches” of the 2027 race, the state’s political script is being rewritten as the APC prepares a major push to reclaim the Agodi Government House.