Get to know Dr. Adedeji Adeleke, a Nigerian entrepreneur and father of Afrobeats musician Davido. Born in 1957 in the Nigerian state of Enugu and briefly raised by his grandmother, he moved to Lagos for his primary school education.
After primary school in 1970, he was admitted into Seventh-Day Adventist Grammar School, Ede, Western Region (now Osun State), Nigeria. He later gained admission into Western Kentucky University, Bowling Green, Kentucky, USA.
After completing his Bachelor of Science degree in Finance in 1979, he enrolled for the Master’s degree in Business Administration (MBA) in that same year and completed it in 1981. Also, he enrolled for a doctoral degree at Pacific Columbia University, Mills Valley, California, where he bagged a PhD degree in International Business after successfully defending his thesis titled “Japan’s conflicting international trade behavior” in 1983.
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His working career started at the Federal Ministry of Education before pursuing his university education abroad. Upon his return to Nigeria, he undertook his mandatory Nigeria National Youth Service Corps before venturing into entrepreneurship.
In 2007, he started working toward earning another doctoral degree in Business Administration (DBA) from the University of Phoenix, Arizona. In 2010, he successfully defended his thesis titled “Electricity supply, efficiency and organizational growth and profitability in Lagos, Nigeria.”
Today, Adeleke is behind Pacific Holdings, which he founded when he was barely 30 years old. It has interests in agriculture, real estate, oil, and gas, among others.
Pacific Holdings is reportedly the cornerstone of his financial success, with divisions like Pacific Farm Limited, Pacific Freightliners Limited, and Pacific Gas Company Limited contributing immensely to his wealth.
This week, Adeleke mentioned that he was constructing Nigeria’s largest thermal power plant, which is expected to be launched in January 2025. The $2 billion project is expected to provide 1,250 kilowatts of electricity to the national grid, he said during the Seventh Day Adventist General Conference Annual Council held in Maryland, United States of America.
“I am a businessman in Nigeria. I’m into the electricity business. I own a power plant; I generate about 15 per cent of Nigeria’s electricity needs. I have Chinese engineering companies that work for me. I’m building the biggest thermal plant in Nigeria, which will be completed in January 2025. It is a 1,250-megawatt power plant,” said Adeleke, a Christian of the Seventh-Day Adventist faith.
Adeleke’s Real Estate Investments
He owns Adeleke’s Real Estate Investments, which has properties across Nigeria, including high-value areas like Ikoyi, Lekki, Banana Island, and Victoria Island in Lagos. Aside from Nigeria, he has reportedly invested in international properties, including a mansion in Atlanta, U.S.
Adeleke’s University and Philanthropy
Adeleke is behind the Adeleke University in Ede, Osun State. The university was founded in 2011 through the Springtime Development Foundation, a philanthropic, non-profit organization established in 1996. The university was launched per the Seventh-day Adventist philosophy of education and offers various undergraduate and postgraduate programs.
As a testament to his philanthropic nature, the university offers scholarship opportunities and flexible payment plans to ensure affordability despite being a privately owned institution. Besides education, his philanthropic activities focus on healthcare and community development, contributing to long-term societal benefits.
Despite being born with a silver spoon, Adeleke has worked hard for what he has achieved today.
With a Bombardier Challenger 605 Business jet and a Bombardier Global Express 6000 as well as luxury cars such as a Rolls Royce Phantom and a 2017 Bentley Mulsanne, Adeleke truly lives a life that reflects his financial success.
