Prince Bayo Otulana was born on December 2, 1941 at Ipebi, Ijebu Imusin. He attended St. Mary’s Anglican Primary School, Ijebu Imusin, from 1948 to 1955 and obtained his First School Leaving Certificate in 1955. From 1956 to 1958, he attended L.A. Secondary Modern School, Itamogiri, Ijebu Imusin, where he obtained his Secondary Modern III School Certificate in 1958. He moved to St. Matthew’s Teachers College, Ijebu-Ode, studying briefly for the 1961-1962 period and finished at Joint Provincial Teachers College, where he obtained both his Teachers Grades III and II Certificates between 1965 and 1966. In 1969, he proceeded to his undergraduate studies at Ahmadu Bello University, Zaria, graduating in 1972 with a Bachelor of Science (Hons) in Economics. He completed his PhD program at the University of Sussex, Briton-England, in 1976.
From 1959 to 1969, he taught in both primary and secondary schools and for two years was the Headmaster of L.A. Primary School, Igbagba, Ogun State. Between 1972 and 1979, he served as a Planning Officer with the Federal Ministry of Economic Planning, retiring as Assistant Chief Planning Officer in 1979.
He started his private company in 1980 and has been self-employed since then. He is the Chairman/Managing Director of his two companies: Manilla (Nig.) Ltd. and Biasowl Group. He has also held several other positions over the years. He is President, of the National Association of Lamps & Lighting Manufacturers of Nigeria; Treasurer, of Ijebu Chambers of Commerce; Director, of Kaycee Nigeria Plc. and Pharco (Production) Plc. He is the Chairman of Sapida Microfinance Bank Ltd. and Director of Ary Refinery and Petrochemicals (Nigeria) Ltd.
He has had some important exposures through his association with and membership of various organizations which include the International Labour Organisation while working with the Federal Service; the Scholarship Board for the Federal Republic of Nigeria; Governing Council, Yaba College of Technology; Governing Council for Industrial Training Fund (ITF); Nigeria Enterprises Promotion Board; Expatriate Quota Allocation Board; and Centre for Management Development.
Prince Bayo Otulana is a sports enthusiast. He is a socialite with a leaning towards humanitarianism. He enjoys good music and stage shows. He was formerly the Regional Chairman of Lions Club International District 404 Nigeria. He is the Chairman of the Ijebu Imusin Anglican Diocese.