Few leaders exemplify the evolving face of Africa’s clean energy movement quite like Ademola Ogunbanjo, President and CEO of Oando Clean Energy Limited (OCEL). With a career spanning energy, strategy, and advisory services, Mr. Ogunbanjo has led transformative work across sectors from telecommunications and banking to oil and gas before stepping fully into Nigeria’s renewable energy frontier.

His leadership journey within the Oando Group saw him take on key strategic roles, including Executive Vice President at OCEL, where he helped shape the company’s foundational projects. In 2024, he was appointed President & CEO, assuming full leadership at a pivotal moment for Nigeria’s energy transition.

Today, Mr. Ogunbanjo leads one of the country’s most ambitious clean energy mandates. Under his direction, OCEL is advancing electric mobility in Lagos, scaling waste-to-energy innovation, and expanding solar power access, all with a deep commitment to inclusive, climate-resilient development. His recent engagements, such as with the Hon. Minister of Women Affairs, further reflect a vision that sees sustainability not just as infrastructure, but as empowerment.

In this exclusive interview, he shares the convictions that shaped his path, the strategic choices driving OCEL’s impact, and the legacy he hopes to leave behind: a greener, fairer, and more future-ready Nigeria.

1. Your journey into the clean energy space is inspiring. What personal experiences or convictions motivated your commitment to renewable energy and sustainability in Nigeria?

The onset of COVID-19 in 2020 represented a global inflection point that fundamentally reshaped our understanding of humanity’s relationship with the natural environment. This unprecedented pause in economic activity provided compelling evidence of nature’s regenerative capacity, as witnessed through the remarkable scenes of wildlife reclaiming urban spaces in metropolitan centers around the world.

For Africa, this moment of introspection highlighted a critical paradox: while the continent contributes less than 4% of global greenhouse gas emissions since the industrial era, it remains disproportionately vulnerable to climate-related impacts. Africa bears the brunt of climate-related challenges with vulnerable infrastructure systems and significant populations of internally displaced persons, often resulting from resource-based conflicts. This reality compels us to acknowledge that climate change intersects with many of the issues we face.

As Nigeria’s leading indigenous energy group, with a legacy of delivering value to both shareholders and stakeholders, Oando PLC recognized its responsibility to transition beyond traditional discourse toward actionable solutions for sustainable practices such as greenhouse gas reduction and climate impact mitigation across the African continent.

Our goal is to support Nigeria’s achievement of net-zero targets while developing innovative, climate-friendly, and economically viable projects. Ultimately, the decision to embrace this path stems from both our collective responsibility to address climate change and our strategic imperative for long-term business continuity, positioning Oando as a forward- thinking integrated energy company well into the next century.

2. When you assumed the role of President and CEO at Oando Clean Energy, what was your immediate vision for transforming the company’s contribution to Nigeria’s energy landscape?

Prior to my formal assumption as CEO of Oando Clean Energy, Oando PLC had already initiated a comprehensive strategic analysis of Nigeria’s highest-emitting sectors, developing targeted intervention strategies to support the country’s net-zero objective by 2060.

By designing a range of impactful projects across various sectors, we estimated that our collective portfolio could contribute approximately 3.8% toward Nigeria’s carbon neutrality goals. This assessment reinforced the understanding that meaningful climate action requires collaborative effort across the private sector ecosystem. If each organization commits to incremental contributions—whether 1%, 2%, or 5%—the aggregated impact can drive substantial progress toward Nigeria’s carbon neutrality objectives. This challenge, while ambitious, remains achievable through sustained private sector engagement alongside government-led initiatives. We felt it was crucial to lead by example, announcing concrete commitments with the aim to catalyze broader private sector participation in Nigeria’s energy transition journey.

3. Among the various projects under your leadership; electric vehicles, solar power, and waste-to-energy. What was the first major challenge you tackled, and how did it shape the direction of Oando’s clean energy roadmap?

The primary challenge confronting our diverse project portfolio spanning electric vehicles, solar power, and waste-to-energy initiatives was capital mobilization. We encountered significant complexities in raising capital across both domestic and international markets, navigating engagement with banking institutions, private equity firms, and alternative capital providers while managing the inherent risks associated with technology procurement in foreign currencies and service delivery priced in local currency.

Although funding was a major barrier, it was not just about securing capital but also, understanding the diverse risk factors involved and mitigating them effectively. The volatility of foreign exchange rates coupled with the scarcity of locally denominated debts further complicated our financial landscape – a challenge endemic across the African investment landscape. We had to strategize on how to de-risk these projects to ensure they remain financially viable while delivering on both environmental and economic value delivery. This experience fundamentally shaped Oando’s clean energy roadmap, reinforcing our commitment to innovative risk management solutions that enable sustainable growth while addressing climate change imperatives. Our approach now emphasizes thorough risk profiling, currency hedging strategies, and collaborative engagement with international development finance institutions to create more favorable investment conditions.

4. The rollout of electric mobility solutions, particularly in urban centers like Lagos, has been a landmark move. What impact has this shift had on both carbon emissions and local communities?

The introduction of electric buses marks a significant step toward reducing tailpipe carbon emissions in Lagos, with our goal of deploying a total of 552 buses by 2027. Current operations with two electric buses have already achieved measurable environmental impact, preventing approximately 321,547 kg of CO₂ emissions across 238,183 kilometers during our two-year proof-of-concept phase.

Community feedback has been overwhelmingly positive, with almost 500,000 total ridership, highlighting the superior ride quality, reduced noise pollution, and enhanced comfort provided by electric vehicles. This initiative demonstrates the viability of clean transport solutions in African urban environments while creating pathways for broader sustainable transportation adoption.

Lagos, as the continent’s most populous city, has experienced a four-fold increase in vehicular traffic, with over 1,000 mass transit buses contributing 243,000kg of carbon dioxide equivalent daily from public transportation alone. This emission profile establishes Lagos as an ideal development ground for sustainable transportation technologies that can be modeled across Africa.

Our full-scale rollout aims to generate local employment opportunities in green transport operations and maintenance, aligning with Lagos State’s climate objective while contributing to improved urban air quality and overall quality of life for residents.

5. Your focus on waste-to-energy stands out as both an environmental and economic solution. Could you share a specific instance where this initiative positively transformed a local community or ecosystem?

Our waste-to-energy strategy operates within a comprehensive ‘waste-to-resource’ framework encompassing energy generation from waste, conversion of organic waste into compost and soil enhancers, and large-scale plastic recycling. Our core philosophy is centered on maximizing the value extracted from waste streams while addressing critical environmental challenges through circular economy principles.

At the community level, our most transformative impact occurs through the formalization of recycling value chains, which traditionally maintain low barriers to entry and are predominantly operated by women and youth through manual recovery and sorting operations. By formalizing these activities, we create inclusive and sustainable employment opportunities while enhancing local sanitation systems and mitigating environmental degradation.

Continental benchmarking through Ethiopia’s Reppie Waste-to-Energy Facility in Addis Ababa’s Bole district provides a compelling success model. This facility processes over 1,400 tons of municipal solid waste daily, generating electricity that meets 25% of the city’s household energy demand. The project’s impact extends beyond local energy security, enabling Ethiopia, despite being landlocked, to export surplus electricity to neighboring Djibouti, exemplifying how circular infrastructure can bolster national energy security and foster regional economic integration.

Our vision is clear – To build Africa’s largest integrated green energy company. It encompasses transforming waste streams into valuable resources through innovative solutions and strategic partnerships, driving sustainable development while empowering communities across the continent. This approach creates measurable environmental, economic, and social value while contributing to a more sustainable and equitable future.

6. Your recent engagement with the Minister of Women’s Affairs highlighted your commitment to a gender-inclusive green economy. Why is gender a core pillar of your sustainability work, and how are you embedding this across Oando’s projects?

At Oando, our commitment to gender inclusion is deeply ingrained in our DNA and represents a fundamental pillar of our organizational culture, extending from board-level representation through management structures and beyod. We recognize women’s critical role in driving development across both private sector initiatives and public sector collaboration, therefore, we actively seek to harness the exceptional talent and expertise within the female community.

Our strategic partnership with the Ministry of Women Affairs focuses on identifying critical capacity building and development opportunities, creating pathways for women’s empowerment and professional growth. This collaboration enables targeted interventions that address specific skill gaps while creating sustainable career pathways.

For example, the electric bus initiative launch in Lagos exemplified our practical approach to gender inclusion. Recognizing that the transition from diesel to electric buses requires specialized operational skills, we deliberately included women in our comprehensive driver training program. The results have been exceptional, with female drivers demonstrating superior performance metrics, including the lowest accident rates and highest safety records in our operations.

Within the broader Oando group, women have consistently contributed to organizational growth and success across multiple business verticals. This diversity is a cultural imperative that recognizes the essential role of inclusive participation in achieving sustainable development objectives. Our approach acknowledges that building a more sustainable world requires leveraging the strengths and capabilities of all genders to achieve collective goals and create a more inclusive and prosperous future.

7. Clean energy transition requires strong partnerships. What role has collaboration with government, civil society, or international partners played in scaling your work and amplifying its impact?

From Oando Clean Energy Limited’s (OCEL), inception, we have prioritized strategic partnership formation across technology, regulatory, and financial sectors, recognizing that meaningful energy transition impact requires collaborative approaches that facilitate knowledge sharing and innovation transfer. Our technical partnerships have provided invaluable opportunities for expertise exchange and technology adaptation that enhance initiatives.

Engagement with multilateral organizations, including the European Commission, has provided critical insights into evolving global trends and best practices, enabling continuous project refinement and strategic alignment with international standards. Our approach emphasizes region-agnostic learning, incorporating best practices from international partners across China, Italy, and other African nations to optimize our operational frameworks.

Strategic collaboration with organizations including the Renewable Energy Association of Nigeria (REAN), the Energy Transition Office, and EcoNexus in Lagos has facilitated cross- pollination of ideas and enhanced our understanding of local market dynamics and regulatory requirements. These partnerships have been instrumental in refining our approach to capital mobilization and risk mitigation strategies ensuring they are both successful and bankable.

This collaborative approach extends to policy influence through active engagement with government agencies to promote regulatory environments that foster sector-wide growth and development. These experiences are integral to our ongoing journey as we continue to enhance our contributions to Nigeria’s energy landscape and drive sustainable development across the continent.

8. Nigeria’s goal of net-zero emissions by 2060 is bold. From your standpoint, what practical steps must both the public and private sectors take now to ensure that this target becomes achievable?

Nigeria’s net-zero emissions target by 2060 represents an ambitious but achievable objective that requires coordinated action across both public and private sectors. Critical success factors include implementing a comprehensive roadmap for the Energy Transition Plan, substantial decarbonization of the power sector through renewable energy investments, and facilitating oil and gas industry transformation through transitional fuel promotion and carbon capture technology adoption.

The transportation sector requires strategic focus on comprehensive electric vehicle framework development, moving beyond temporary compressed natural gas (CNG) solutions toward long-term electrification objectives outlined in the energy transition plan. Current emphasis on CNG adoption, while the energy transition plan clearly articulates public transportation electrification by 2060, creates policy inconsistency that undermines our net- zero commitment.

Essential actions include mobilizing climate finance through green investment vehicles, conducting nationwide public awareness campaigns to drive behavioral change, and securing long-term stakeholder support for sustainability initiatives. With a strategic, multi- sectoral approach, Nigeria can successfully meet its net-zero goal.

Private sector leadership remains critical, as companies possess the balance sheets and risk appetite necessary to facilitate this transition. Government must create enabling environments through policy development, regulatory framework harmonization, and investment facilitation that attract high-quality investments and boost public-private partnerships.

Our organization remains committed to this vision through diverse project portfolios designed to contribute meaningfully to national objectives. Success requires closer collaboration between sectors, ensuring that commitments translate into deliverable outcomes with unwavering focus and dedication to achieving Nigeria’s net-zero goals.

9. Beyond infrastructure, energy equity remains a challenge. How is Oando working to expand access to clean energy for underserved populations, especially in rural or peri-urban areas?

Energy equity—the fair and inclusive distribution of energy access—represents one of Nigeria’s most significant development challenges, particularly affecting rural and peri-urban communities. With over 90 million Nigerians lacking reliable electricity access, the implications for livelihoods, healthcare delivery, educational outcomes, and overall socioeconomic development are profound.

Through Oando Clean Energy Limited (OCEL), we are implementing targeted interventions to address this critical gap. Our strategic partnership with the Rural Electrification Agency (REA) aims to deploy solar mini-grids and solar home systems (SHS) to off-grid and underserved communities. These systems are designed with affordability in mind, utilizing pay-as-you-go and lease-to-own models to ensure accessibility for vulnerable populations.

Our Clean and Inclusive Transport project, Project LightSpeed, represents Nigeria’s first electric mass transit initiative, developed in collaboration with Lagos State government. As the pioneering company to launch electric mass transit buses alongside supporting infrastructure, we are paving the way for sustainable transportation solutions with planned expansion to peri-urban routes.

OCEL actively participates in national climate and energy policy dialogues, advocating for regulatory reforms that support mini-grid expansion, improved access to climate finance, and private sector-led innovation in underserved markets. Our approach recognizes that sustainable energy access requires both technological solutions and enabling policy environments that facilitate scalable implementation.

These initiatives collectively aim to enhance energy access while contributing to a more sustainable and equitable future for all Nigerians, addressing both immediate energy needs and long-term sustainability objectives through innovative, community-centered approaches.

10. Looking forward, what legacy does Mr. Ogunbanjo hope to leave behind not just within Oando, but in Nigeria’s broader transition to a green, inclusive, and circular economy?

The legacy I aspire to leave is one that vividly illustrates the significant impact the private sector can have on achieving national objectives. By demonstrating thought leadership and leading by example, we can encourage other businesses to recognize that even the smallest contributions can collectively create substantial change. When we all commit to a common goal, our efforts can aggregate to drive the transformation we seek.

Climate change mitigation transcends government responsibility; it is a challenge that requires the collective effort of all sectors of society. The consequences of inadequate climate action threaten vulnerable nations with systemic instability—outcomes already manifesting globally. No economy can thrive amid such turmoil making it imperative for the business community to actively support government initiatives toward net-zero target achievement.

As I reflect on the legacy I wish to create, I hope to be remembered the catalyst for private sector climate consciousness, inspiring businesses to unite in supporting government fulfillment of critical climate commitments. This legacy encompasses awakening the private sector to its essential role in national climate action while demonstrating that sustainable business practices can deliver both environmental and economic value.