Stephen Ayodele Makinwa Listen^ⓘ(born 26 July 1983) is a Nigerian former professional footballer who played as a forward. Makinwa also played for the Nigeria national team. His name, Ayodele, means "Joy has come home".

Makinwa was born in Lagos, Nigeria. Discovered in 2000 by Reggiana while playing for Nigerian local side Ebedei alongside his childhood friend and teammate Obafemi Martins, Makinwa started his Italian football experience moving on loan to Serie D team Conegliano.

In 2001, he moved to Serie B team Como squad, as Como bought 50% of the rights to the player, however, Makinwa did not play any games for the team.

In 2002, he was back to Reggiana, in Serie C1, but the following season he was again in Como, but now as a regular.

Como bought the remainder of the 50% ownership rights from Reggiana in June and sold him to Genoa in August 2003. In the first half of the season, he was remained on loan at Como. In January 2004 Makinwa was loaned to Modena and made his debut in Serie A. In the 2004–05 season, he returned to Genoa and scored 6 goals in the first half of the Serie B season. That season, Genoa also owned effective strikers Diego Milito and Roberto Stellone.

In January 2005 Makinwa moved to Atalanta in a joint-ownership bid, but Atalanta was relegated in June 2005, although the club decided to buy the remaining rights on 27 June.

In July 2005, Makinwa joined Palermo for a reported €7.5 million transfer fee. He only remained at Palermo for a season, however he showed enough promise to suggest that he could develop into a quality Serie A player, scoring 5 goals in 23 league matches as Palermo qualified for Europe and 3 goals in the Uefa cup.

Makinwa then went to S.S. Lazio in summer 2006, on a co-ownership deal for €3.3 million, being reunited with Delio Rossi, his former coach at Atalanta. In June 2007, he was fully contracted by Lazio, following a blind auction between the biancocelesti and Palermo, for another €3.3 million. He also signed a new five-year contract.