He bags a Ph.D in Economics from the University of Ibadan, Nigeria. He is currently a Professor of Economics in the same Department. He is also a Research Professor at the Centre for Econometrics and Allied Research, as well as Senior Research Fellow, Macroeconomic Study Group, University of Ibadan.

He is a Life Member, and former Business Manager of the Nigerian Economic Society, President, Nigerian Association for Energy Economics, 2011 -2013. He served the Editor, Journal of Economic Management and he is presently on the Board of Editors of the Energy Journal. Adeola served as a Special Assistant to the Presidential Adviser on Energy Matters, between 2005 and 2007, and Senior Special Assistant to the President, Office of the Chief Economic Adviser to the President between 2010 and 2011. He is the Director, Centre for Petroleum, Energy Economics and Law (CPEEL), a MacArthur Foundation Regional Centre of Excellence at the University of Ibadan.

He was recently appointed by President Mohammed Buhari as a member of the apex monetary policy body of the Central Bank of Nigeria, the Monetary Policy Committee, for a period of 4 years. Present appointment: Professor and Director. He is a Fellow of the Nigerian Association for Energy Economics (FNAEE) and Fellow, Energy Institute, FEI.

Department of Economics University of Ibadan.