An alumnus of Western Kentucky University, Adedeji was born on March 6, 1957, in Enugu to Late Raji Ayoola Adeleke and Late Esther Nnena Adeleke.
Between 1965 and 1970, he was a pupil of Ansar-ud-Deen primary school, Surulere, Lagos. Upon completing the primary school education in 1970, he was admitted into Seventh-Day Adventist Grammar School, Ede, Western Region (now Osun State), Nigeria. With a West African School Certificate in 1975, Adedeji worked briefly at the Federal Ministry of Education until 1976 when he gained admission into Western Kentucky University, Bowling Green, Kentucky, USA.
Beginning class in the Fall of 1976, Adedeji completed his Bachelor of Science degree in Finance in 1979. He enrolled for the Master's Degre in Business Administration (MBA) in Fall 1979, and completed it in 1981. Between 1981 and 1983, he was 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 behaviour" in 1983.
Learning about the dignity of labour, Adedeji returned to Nigeria and diligently served in the Nigeria National Youth Service Corps. It is worthy of note that Dr Adeleke enrolled for a second doctoral degree in Business Administration (DBA) with the reputable University of Phoenix, Arizona in 2007.
In 2010, he successfully defended his thesis titled "Electricity Supply, efficiency and organizational growth and Profitability in Lagos, Nigeria." Earlier in 1996, he established a not-for-profit Non-governmental organization called Springtime Development Foundation (SDF) to sponsor the poor and downtrodden citizens of Nigeria through higher education. To sustain his interest in human capacity development in Nigeria, he sought a Federal Government license for Adeleke University.