Achievers

LADOL is the only 100% indigenous Nigerian company in its field of upstream petroleum and maritime engineering, fabrication, logistics, vessel repairs and construction. A medical doctor by profession, jadesimi received her first degree from Oxford University, where she earned BA in physiological sciences. She then attended oxford University medical school, Form which she graduate as a medical doctor (MD).  After oxford, Amy joined Goldman Sachs International in London as part of the investment banking division, specializing in corporate finance and mergers and acquisition. She then attended Stanford business school, from which she earned her MBA in business administration.

 

You are a trained medical doctor, why did you choose not to practice?

      I did not actually choose to go into business but I was fortunate enough to get offered a job by Goldman Sachs at the same time I was offered a job in a hospital,   under a female a surgeon in oxford.

       I approached the consultant and told her abort the job offer. She encouraged me to go on  and explore it, saying that if it was a good opportunity to see what an alternative career would be like and that i could come back to the hospital in another year. this made it easy for me to go and try something new investment  banking and I really enjoyed it.

Do you at some point intend to use your medical degree and if so what field of medicine will you practice? 

      I have used my medical background since coming back to Nigeria through my work with the NGO, venture strategies for health and development and Emzor pharmaceuticals. Together we worked on reducing maternal mortality in Nigeria, which has one of the highest rates in the world at 630 per 100,000 by introduction of a medicine to prevent and treat post-partum haemorrhage, the No. 1 cause of maternal mortality. I have huge respect for the medical professionals in Nigeria and all they have to cope with.

       My work with venture strategies showed me how market forces could be used to achieve significant positive social benefits, empowering women and saving lives.

What is LADOL'S specialty?

      We build facilities across the country because after decades of working in the maritime and oil and gas sectors they know that true local content can only come with local investment and ownership of facilities. We enable equitable partnerships with technologically advanced international companies.

       Our joint venture with Samsung Heavy Industries, to build Africa's first onshore vessel integration and fabrication facility, is an example of what can be achieved with committed long-term indigenous investors work with leading multinationals. 

        Such a network of facilities will have positive knock on effect on other areas of the economy, such as finance, telecommunication, human resources development, engineering etc.

        I would like to go on and work on similar projects in the future

Do you have any qualification for this role?

   I've had an unconventional career path, from medicine to banking to business school, and then into working at LADOL- which involves everything to engineering, finance and business development. Fortunately we have a very strong Management team and dedicated hard working staff-together we managed to take the company from a start –up 10years ago to a 500 million USD company.

    I think the no. 1 reason for that achievement is the entire management and staff, who were inspired by my father who started the company. 

What changes do you think the government needs to make in the oil and gas industry to make it easier to operate and also to make it a lot more profitable?

     What we need more than anything is a level playing field and stronger support for indigenous investors and operator. Local content is still below 20%, meaning 80% of projects are still being done offshore, by foreign companies. Many of the bigger projects that are done in Nigeria are done by foreign companies operating in Nigeria.

      In the last 20 years, we spent USD 300 billion on oil and gas developments, in the next 10 years we could spend the same amount again. It is vitally important for our economic growth and stability that the next USD 300 billion we spend goes into local facilities that are fostering real technology transfer and creating new job. Such facilities require long-term investment and commitment to the long-term future of Nigeria – as we have seen in other countries Form Norway to china – such commitment long-term investment is typically only found in the indigenes of a country.

        We need more indigenous long-term investment in facilities, which will enable international companies to partner with Nigeria in an equitable fashion, carry out their projects here and transfer technology to the next generation of Nigeria. So that we send our next USD 300 billion building a Future For Nigeria and not exporting jobs and dollars abroad.

You were selected as one of Nigeria young Global leaders for 2013, how did you feel when you heard about it?

     I was very surprised and honoured – I hope I can do the title justice.

For someone your age, how has this enhanced your career? 

   It is a great honour  and l've found myself part of a great network of inspiring people who give great advice and access to new ideas for LADOL.

What do you hope to achieve in the next five years?

   In the next five year we will be building our bases across Nigeria – creating infrastructure for vessel conversion, integration, fabrication and repair, logistics, engineering and personal support.

    We will also be building our joint venture with Samsung and other international partners.

     I think that going to keep me very busy.

What's your definition of success and do you believe you've achieved it yet?

    Success for me is about the journey and not the destination – making every day count and focusing out figuring out what really matters to you and your family.

Who are your role models and why?

    The strongest influences I had growing up were the stories of my Nigeria heritage.

     My grandfather (paternal) was a bishop in the Anglican Church, while my other grandfather (maternal) was Nigeria first finance minister, Festus Samuel Okotie- Eboh.

     So I grew up with a very strong sense of pride in what it means to be a Nigeria and what we can achieve as a People which strongly contradicted the feedback I got form the world about what it means to be a Nigeria.

     I t has always been very important to me as a Nigeria to look for personal heroes and heroines that are a part of my heritage, representing who we actually are and what we have achieved as a people, instead of listening to the negative narrative the world gives us.

What do you do in your spare time?

     Exercise and reading – mainly exercise – I'm addicted to my treadmill, boxing training is also a fantastic workout.

In a country like ours where the youths don't believe in the system, what is your best piece of advice for a young entrepreneur who want to achieve success in life?

     Work, work, more work, don't give up, love what you do and take actions that make you and your family proud and collaborate – it is incredibly hard to set-up a business but having worked in a few places across the world – I have found Nigeria and Nigerians to be the most hard working entrepreneurial people on the planet.

      I would say the number one thing holding us is back is lack of faith in ourselves and our neighbours - no-one is looking out for us but each other and when we Nigerians finally begin working together as a nation we will achieve wonders – to every young entrepreneur out there you don't have to do it alone - find a mentor and a mentee, work with as many people as you can – work hard and have long-term goals. I never know what each new day will bring but doing my best every day for me and my team gets me through.             

 

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