Olu Agunloye

Olu Agunloye (born 16 September 1948) is a Nigerian physicist, public servant and politician. He served as Corps Marshal of the Federal Road Safety Corps (FRSC), Minister of State for Defence (Navy) and Minister of Power and Steel under President Olusegun Obasanjo. In 2016 he contested the Ondo State governorship election on the platform of the Social Democratic Party (SDP).

Early life and education Agunloye was born on 16 September 1948 in Erusu-Akoko, Ondo State. He attended Ondo Boys’ High School, Ondo (1961–1965). He studied at the University of Ibadan (1966–1974) and later obtained a Master’s degree in Applied Geophysics from the Massachusetts Institute of Technology (MIT). He also holds a Ph.D. in Physics from the University of Ibadan.

Career Academic and private sector Agunloye lectured in the Department of Physics at the University of Ibadan from 1974 to 1981. He later worked in the private sector as Executive Director of Petramin Nigeria Limited and Managing Director of Faagol Instruments Limited, Ibadan (1981–1988).

He has also served as Executive Vice Chairman of National eGovernment Strategies.

Controversies Agunloye has been the subject of investigation and prosecution by the Economic and Financial Crimes Commission (EFCC) in connection with the award of the Mambilla Hydroelectric Power Project contract while he was Minister of Power and Steel. He has pleaded not guilty to the charges.

In July 2026 an FCT High Court in Abuja ruled in Agunloye’s favour in a libel suit against the EFCC. The court found that an EFCC publication linking him to a “$6 billion fraud” was defamatory, ordered the agency to retract the publication, issue a public apology, and pay ₦10 million in damages.