By Yetunde Oke/Adebayo Yusuf
In this insightful interview, Dr. Olaoluwa Adegoke, CEO of Olaade Innovative Concept (OIC) Solar, shares his inspiring journey into the renewable energy industry, drawing from hands-on experience with his father and years of strategic development. Now leading one of Nigeria’s foremost solar companies, Dr. Adegoke discusses the challenges of navigating a tough business climate, the power of referrals in business growth, and OIC’s commitment to innovation and training.
Interviewer: How does it feel to be CEO of one of the most leading renewable energy companies in Nigeria?
Dr Olaoluwa Adegoke: It is a challenging and interesting job. This is something I have wanted to do since I was young. It is a product of hard work over the years.
Interviewer: Did you study a course related to Renewable Energy?
Dr Olaoluwa Adegoke: At the University level, at Ladoke Akintola University of Technology, LAUTECH, Ogbomosho, Oyo State, I wanted to study Electrical Electronics, but I was given another course of study. However, I started working with Inverter in 1991 with my Dad, so I learnt many of the things I know in renewable energy from my dad.
After my first degree, I did training at a solar company in 2007, I then proceeded with my Masters Degree in Management. I went further to obtain a degree in Electrical and Electronics Engineering.
Now, I have a Bachelor of Technology in Transport Management, Bachelor of Engineering in Electrical and Electronics Engineering and Masters in Logistics and Supply Chain Management.
Interviewer: How old is your company?
Dr Olaoluwa Adegoke: We started in 2009, this year; we will be 16 years old.
Interviewer: What is the general acceptance of Olaade Innovative Concept, OIC Solar in Nigeria?
Dr Olaoluwa Adegoke: Our batteries and inverters are produced by our partner in China and products produced by OIC Solar such as solar panels, solar fans, solar power kits and electrical solar power cables are well accepted by both the end users and distributors who have stuck with us over the years.
Interviewer: What are some of the challenges you have faced and still facing at OIC Solar?
Dr Olaoluwa Adegoke: Competition with fake products. Some customers compare our products with fake ones. Other challenges include an unfavourable business environment and capital.
Interviewer: With the present business environment in Nigeria, how have you been able to woo customers and investors?
Dr Olaoluwa Adegoke: We achieve this through adverts and social media campaigns. However, what has really worked for us and still working for us is referral. Referral has been the bedrock of the business.
Interviewer: How do you keep up with technology and policy changes in the solar industry?
Dr Olaoluwa Adegoke: At OIC solar, we are very in tune with the developed world. We do not stay too far away from China. OIC and its partners have a strong Research and Development Team that come up with new innovations regularly. For instance, if we install a solar power system for you, within 6 months be sure we have another improved version of the previous installation.
Interviewer: What advice do you have for people who are planning to venture into renewable energy business?
Dr Olaoluwa Adegoke: For any business, patience is needed, walk the path, never jump the process. If you skip some of the processes, you will come back to them in the future.
Honesty in every business that’s the key.
Interviewer: Do you think students should undergo training on renewable energy in schools?
Dr Olaoluwa Adegoke: Yes, in both secondary schools and technical colleges. Nigeria used to have good technical schools, but it is no longer the case and this should be reviewed, although, in OIC solar, we offer training and in the last 10 years, we have made a lot of CEOs.
We have also partnered the Federal University of Agriculture, Abeokuta, Ogun State, to train over 200 students in renewable energy.
Interviewer: Nigeria is facing a serious crisis in the power sector, what do you think is a permanent solution?
Dr Olaoluwa Adegoke: It is just unfortunate that in the 21st century we are still battling with epileptic power supply in Nigeria. In a serious clime, every state should have an embedded system where gas, Hydro Electric and solar power system will embedded together to generate power to the populace.
The solar energy dropping down daily in Africa, can power the whole world.
Interviewer: What motivates you to keep pushing forward in a competitive and evolving industry?
Dr Olaoluwa Adegoke: I am a man of vision, right from time, I knew what I wanted out of life and I have remained focused.
Interviewer: If you were not a renewable energy expert, what other career would you be passionate about?
Dr Olaoluwa Adegoke: If I am not a renewable energy expert, I will still be an engineer. I will be in a sector where I provide solutions.
Interviewer: Where do you see the solar energy sector heading, especially in Nigeria also with the government’s proposed plan to ban importation of solar panels.
Dr Olaoluwa Adegoke: This is not the right time for the federal government to place a ban on importation of solar panels. According to the government some people are already producing locally, but those people producing locally, can they cater for the domestic demand at the moment?
If the government must do this, it should start encouraging more companies to start producing locally.
At OIC Solar, this year, we will start producing our products in Nigeria because our end game is to have solar panel factories in Nigeria. So, the federal government’s plan aligns with our vision and is not a threat to us.
Interviewer: Who is your mentor?
Dr Olaoluwa Adegoke: My dad is my mentor.
Interviewer: Are you a book lover and what kind of books do you read?
Dr Olaoluwa Adegoke: I’m not a bookworm, but I study a lot online. I listen to podcasts on renewable energy and also enjoy electronic books.
Interviewer: How do you balance work and family?
Dr Olaoluwa Adegoke: It has not been easy because I travel a lot, but with the help of God it has been great. How I balance up is through vacations with family and sometimes my wife follows me on work trips when she’s on leave.
Interviewer: How do you ease stress?
Dr Olaoluwa Adegoke: So I ease off stress by hanging with people older than me. People in their 50s and 60s, the reason for this is because I gained a lot of knowledge from them. When you move with the elderly, they feed you with the experience they have had.
I am also a member of some clubs in Ibadan, like the Recreation Club and Ibadan Country Club, where I am the president.
Giving voice to the voiceless!
