His death was confirmed by the Publicity Secretary of the party, Taofik Gani, on Wednesday.
Gani hailed Adegbola as “an exceptional politician who had deployed much of his hard-earned money into philanthropism.”
Until his death, Adegbola was the Medical Director of Santa Maria Hospital.
Adegbola had also contested for the Lagos state governorship under the platform of the All Progressives Grand Alliance (APGA).
Gani described his death “as Martyrdom as he was dogged about the emancipation of the oppressed, pauperized and less privileged.
Burial arrangements will be confirmed by the family.