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Stephen Isabalija attended Kinyamasika Demonstration School, in Fort Portal for his elementary school. For his O-Level education, he attended St. Leo’s College Kyegobe, also in Fort Portal. He transferred to Makerere College School, in Kampala, Uganda's capital and largest city, for his A-Level studies. From 1996 until 1998, he attended Nakawa College of Business Studies, the name of the institution that was the precursor of Makerere University Business School (MUBS). In 1997, he enrolled in the Bachelor of Commerce degree program at the main campus of Makerere University, graduating in 2001. For one year in 1998, he juggled degree classed at Makerere and diploma classes at Nakawa. Between 2002 and 2004, he studied for the degree of Master of Business Administration (MBA) in Finance and Accounting, at Makerere University, Main Campus. His degree of Doctor of Philosophy (PhD) in Public Policy (International Development), was obtained in 2011, from Southern University, in New Orleans, Louisiana, United States.

Stephen Robert Isabalija, is a civil servant, management professional, accountant, academic and academic administrator in Uganda. He is the immediate past permanent secretary in the Ministry of Energy and Mineral Development in Uganda, having served in that capacity from November 2016, until his termination on 24 August 2017.

On 4 November 2016, he was appointed the permanent secretary of the Ministry of Energy and Mineral Development, replacing Kabagambe Kaliisa, who became a presidential adviser on energy.

Prior to that, he served as the Vice Chancellor of Victoria University Uganda, a private, for-profit university owned by the Ruparelia Group, a business conglomerate in East Africa. He served in that capacity from September 2013 until November 2016.

He started his career In 1999 immediately after finishing his diploma in business studies as finance specialist where he rose to the rank of Head of accounts at the ministry of water and environment (JPF); In 2005, Stephen Isabalija was hired as Lecturer In the Graduate school and rose to the rank to Senior Lecturer at Makerere University Business School (MUBS). He was appointed Vice chancellor for Victoria university 2013. Besides his responsibilities at Victoria University, Uganda Electricity Generation Company Limited and Uganda Development Bank, he sits on the Boards of (a) Dynamic Group, where he is the Chairman (b) ICT University Foundation (c) Christian Discipleship Ministries International (d) ICT Centre, Makerere University Business School and (e) Uganda Women’s Entrepreneurship Association, where he is a Delegate.

He was born in Fort Portal, Kabarole District, on 23 November 1976, to Chris Nyakahuma (deceased) and Lorraine K. Waako Akiiki (deceased).