Meet Ademola Ogunbanjo-New President/CEO of Oando Clean Energy Limited (OCEL).

Oando Clean Energy Limited, one of Nigeria’s leading energy companies, has announced the appointment of a new Ceo/President.

The company announced Ademola Ogunbanjo as the new CEO on various social media platforms.

Professional background

Ogunbanjo is an all-round professional with energy, telecommunications, banking, and strategic consulting expertise.

He started out in banking, where he rose to become a regional retail manager for the southwest region of the National Bank of Nigeria.

Transitioning to telecommunications, he worked at MTN, then Airtel Nigeria as a Strategy Executive.

He then moved to the energy sector, where he joined the parent company of Oando, Ocean and Oil Holdings (OOH) as an overseer of human resources, energy services, etc.

He quickly rose up the ranks, becoming the Executive Vice President and focusing on projects that aligned with Nigeria’s Climate Goals.

What Does This Mean for OCEL?

Given Ademola’s experience in renewable energy, this means the company will continue to adapt itself into a major player in Nigeria’s energy transition.

His leadership honours a pivotal moment as the company reinforces its commitment to reducing Nigeria’s dependence on fossil fuels and driving the country’s energy transition.

The company has several initiatives, from electric vehicles released in Cross River to an electric vehicle assembly plant, etc. to waste-to-energy projects and solar power developments.

Ogunbanjo’s extensive background could help the company achieve Nigeria’s net-zero emissions target by 2060.

Potential challenges and opportunities

While OCEL is growing,  Ogunbanjo faces several challenges to work around. These are associated with the high costs of renewable energy costs, infrastructure problems, and shaky policy frameworks.

The country has huge infrastructural challenges that can hinder renewable projects. First is the National Grid, which is unstable and has collapsed multiple times in the past few years. The grid is outdated as it cannot handle large amounts of distributed energy.

The African Development Bank reported that the country’s infrastructure is well underdeveloped, leaving a gap in generation and distribution capacity.

However, sustainability is on the rise as the government has also shown a growing commitment to renewable energy. For example, the Renewable Energy Master Plan (REMP) has strategies to increase the share of renewable energy mix to 30% by 2030.

There is also attention from investors both domestically and internationally giving hope for the future of renewable energy in the country.

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