Rilwan Lanre Babalola
Special Adviser to the President on Power and Chairman of the Presidential Task Force on Power Sector Reset and Restoration.
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Biography & Profile
Bio Summary
Dr. Rilwan Lanre Babalola is a renowned energy economist and technocrat currently serving as the Special Adviser on Power to President Bola Ahmed Tinubu. A former Minister of Power, Babalola is widely credited with spearheading the initial structural reforms of Nigeria’s electricity sector during the 2000s. Known for his technical expertise and "Performance Before Expansion" philosophy, he was appointed in April 2026 to lead the Presidential Task Force on Power Sector Reset and Restoration, tasked with stabilizing Nigeria's national grid and ensuring commercial viability in the power value chain.
Education
- Doctor of Philosophy (PhD) in Energy Economics — University of Surrey, United Kingdom.
- Master of Science (MSc) in Energy Economics — University of Surrey, United Kingdom.
- Bachelor’s Degree — Details of undergraduate studies held within professional records.
Professional Background
Dr. Babalola is a veteran of the energy and finance sectors. His career is marked by high-level roles in both the public and private spheres:
- Investment Banker: Served at Lead Bank, specializing in the Public Sector and Infrastructure Department.
- Bureau of Public Enterprises (BPE): Joined in 2001 as Head of the Power Sector Team; led unbundling efforts for the Power Holding Company of Nigeria (PHCN).
- Nigerian Electricity Regulatory Commission (NERC): Served as Deputy General Manager.
- Federal Minister of Power: Served from December 2008 to March 2010 under President Umaru Yar’Adua.
- Director: Dantata Solar Ltd and other energy-focused consulting firms.