Adegbenga Ismail Dare is the Chief Executive Officer of Lakelink Medical and Laboratory Limited.
The company specializes in medical laboratory equipment, hospital equipment, general laboratory setup installations, training, and laboratory furniture.
In this Interview with Tobi Adetunji, he spoke about the challenges associated with entrepreneurship in Nigeria and the need for the Federal Government of Nigeria and concerned authorities to implement business-friendly policies that will help business owners thrive.
He also charges the government to invest massively in Education and Technological development.
Can we meet you, sir?
My name is Mr. Adegbenga Ismail Dare, I am the chief executive officer of Lakelink Medical and Laboratory Limited.
What do you do at Lakelink Medical Laboratory Limited?
At Lakeline Medical and Laboratory Limited, we deal in medical laboratory equipment, hospital equipment, general laboratory setup installations, training, laboratory Furniture, and a whole lot of things revolving around the business of laboratory and equipment. We do a whole lot here.
How long have you been in the business?
I have been in business for some time. Precisely, I started after graduating from school. I can say I started training, garnering experience for what we now call Lakeline Medical and Laboratory in 2008. We have moved on from there to becoming a limited company now.
What are the major deals Lakelink Medical and Laboratory Limited undertook in the past years?
Due to the nature of our work as a distributor of medical laboratory equipment, we might not know where some of our clients are selling to or supplying to. But let me mention a few of our clients that I can remember, they include but are not limited to, such as Kwara State University (KWASU), where we help the institution in setting up the laboratory, and in training its staff.
We have also worked for Lagos State Polytechnic, now (Lagos State University of Technology).
Also, there are some departments in Covenant University Ota, Ogun State, that bought some of the equipment used in setting up their Laboratory from us. We also help them in facilitating and training manpower along the lines of our services.
So directly and indirectly through some suppliers, we have a network of clients. Furthermore, in and outside of Lagos, we have helped in setting up standard and 21st-century compliance laboratories for some secondary schools. Whilst doing the same for some research laboratories, and training their men.
What is the role of training in this profession?
The maxim knowledge is power is relevant in all ages, if you don’t have the basic knowledge of what you are involved in, that means you don’t know what you are doing. For me, I study Science Laboratory Technology for my Ordinary National Diploma (OND), I then progress to study Microbiology for my Higher National Diploma (HND).
But in a year of industrial training, I was able to work in a place where scientific equipment is sold and laboratory equipment and settings are done. So I used the opportunity to garner experience. Because I already have an idea of the theoretical aspect based on what I studied in school. So, I used the avenue of industrial training to learn the practical and business aspects of the job.
See, there are no two ways about it, you need to do some training, so many things are involved in this profession, and the field is a very complex one. We have some sections or departments that cover scientific equipment, some sections cover disposable, and consumables. We have some departments that also focus on Algae, microorganisms, and so on.
So in fact, my background in Science Laboratory Technology, later on Microbiology, and the training I had in the course of my industrial attachments, set the pace for what I am doing today, especially the business side of the job.
What are the major challenges?
Our major challenge is the unfavorable economic policies and decisions, most especially in terms of forex. Our business is almost 80% based on import business.
Majorly, all this equipment is not locally made, even when we have some people among us trying to produce at the local levels, let’s say some disposable or consumables.
For example, we have some manufacturers that focus attention on manufacturing at the local level, but they still need to buy the raw materials that they would use in manufacturing locally from abroad.
So there is hardly any way for us to escape the scorching effects of the Exchange rates.
Again, entrepreneurs hardly have access to loans from the government in Nigeria. It is very difficult for Small and medium-scale businesses to scale through in those instances. So it is affecting us. There is also the Nigeria factor which makes access to loans for entrepreneurs difficult.
How can the Government come to the aid of Small and Medium-Sized Enterprises (SME)?
The government can assist business owners by stimulating the Economic system, working on the exchange rate, and also putting in place institutions that can regulate the industry.
This will help business owners and entrepreneurs to get loans at a minimum interest rate and they can run their business successfully.
Do you think Nigeria as a country can be a hub of manufacturing in the distant future?
As a country, we do have the capacity to manufacture, but with our current technological level, we are still far behind. All the equipment here are product of research, and the inventors are born out of a society that sees technological development as paramount and invested there.
What’s your Advice to Entrepreneurs?
I will say charity must begin at home. The current trends or vibes if that is correct, especially with the Gen Z generation seem not to be encouraging.
We need to let the children, youth, and entrepreneurs alike know that to be successful in life they need to work hard, as success does not come easily.
They must also know that besides the certificate they were awarded in school, there is more to learn if they must be successful.
