Adelabu announced his ambition on Tuesday at the Obafemi Awolowo Stadium in Oke Ado, Ibadan, under the platform of the All Progressives Congress (APC).
The declaration event attracted several prominent APC leaders and members, including Kunle Sanda, Isiaka Alimi, and Wale Sanusi, among others.
Addressing supporters at the gathering, Adelabu, who also served as Deputy Governor of the Central Bank of Nigeria, said his decision to rejoin the governorship race was driven by his belief that Oyo State deserves greater development and improved governance.
He expressed gratitude to God, party leaders, and supporters who have remained with him since his first governorship attempt in 2019, adding that he believes 2027 presents another opportunity to achieve his political ambition.
According to him, the declaration represents more than just an announcement of ambition, describing it as a summary of his vision and manifesto for the state.
Adelabu stated that his goal is to return Oyo State to what he described as genuine progress through effective leadership and grassroots-oriented governance.
He also appreciated Bola Tinubu for the Renewed Hope agenda, while stressing that his governorship ambition is rooted in the desire to deliver security, stability, and economic advancement to the state.
“Why am I contesting again? It is because I believe Oyo State deserves more. Governance must go beyond rhetoric,” he said.
The former minister added that his experience and exposure in public service and finance have equipped him with the capacity to build a more economically viable and prosperous Oyo State where the impact of governance is felt at the grassroots level.