By Precious Enaike

Founder of Joy Inc. and host of WithChude, Chude Jideonwo, has urged young entrepreneurs to embrace failure as a catalyst for growth, resilience and innovation, stressing that setbacks should serve as opportunities to build stronger systems, refine business strategies and develop sustainable enterprises.

Jideonwo made the call at the grand finale of the sixth edition of the Student Entrepreneurship Programme (SEP 6.0), organised by the Management Science Association (MSA), University of Lagos (UNILAG), held at the J.F. Ade Ajayi Auditorium.

Themed “Beyond Resilience: Future-Proofing Student Businesses Through Strategy and Structure,” the programme marked the culmination of a week-long entrepreneurship initiative that brought together students, entrepreneurs, business leaders, technology experts and industry professionals to examine practical strategies for building businesses capable of thriving beyond the university environment.

Beyond the insightful conversations on entrepreneurship and innovation, one of the defining moments of the event was the presentation of ₦1 million each in seed funding to the winners of the Kola Adesina Business Challenge, providing promising student entrepreneurs with the financial support needed to transform innovative ideas into sustainable businesses.
Reflecting on his entrepreneurial journey, Jideonwo recounted how a financial crisis in 2016 plunged him into depression despite his previous professional accomplishments.
According to him, the difficult period, rather than ending his career, became the turning point that inspired the establishment of Joy Inc. and WithChude, now regarded as two of Nigeria’s foremost platforms for conversations on leadership, entrepreneurship and personal development.

“Failure teaches you that you can fail, that you are human, but more importantly, it teaches you what to do next,” he said.
Jideonwo explained that every setback presents valuable lessons capable of strengthening businesses, improving systems and shaping entrepreneurs who are willing to learn instead of giving up.
He also reflected on his decision to step down as Chief Executive Officer of a leading public relations firm, describing it as one of the most difficult decisions of his career because it came at the cost of relationships, networks and financial opportunities.

However, he said the sacrifices ultimately positioned him to pursue purpose over comfort.
Speaking on business sustainability, he stressed that passion alone could not sustain an enterprise, urging founders to intentionally build structures that would allow their businesses to grow beyond their personal involvement.
“The first time I realised structure mattered was when I had to pay salaries,” he said, explaining that entrepreneurship became a serious responsibility the moment other people’s livelihoods depended on his decisions.

While encouraging young entrepreneurs to build systems around their businesses, he cautioned against placing unnecessary pressure on themselves during the early stages.
“You don’t have to build a multinational structure from day one. Your structure should grow with your business. Make mistakes, learn from them and keep improving,” he advised.

Earlier in the programme, the Group Managing Director of Sahara Power Group, Dr. Kola Adesina, was represented by Dr. Adebayo Olumuyiwa Adebayo, who delivered the keynote address.
In his presentation, Adebayo challenged entrepreneurs to move beyond the culture of hustle and deliberately build businesses capable of outliving their founders.
Delivering the keynote, he said vision alone was insufficient to guarantee business sustainability, stressing that entrepreneurs must combine vision with structure, systems and sound strategy.

“Vision gives direction, structure carries the load, while systems keep the business moving when you are no longer pushing it by hand,” he said.
He urged entrepreneurs to build businesses around genuine market needs rather than merely chasing profits.

According to him, founders must understand their customers, know their numbers, document their processes, separate personal finances from business finances and establish organisations capable of functioning effectively even in the absence of the founder.
He further encouraged entrepreneurs to embrace technology responsibly without becoming overly dependent on it, noting that adaptability, innovation, ethical leadership and continuous learning remain essential to long-term business success.

Speaking during a fireside chat titled “Building Smarter Businesses: How Technology is a Competitive Advantage,” Founder and Chief Executive Officer of Bazna Live, Samuel Seidu, described technology as an enabler rather than the foundation of a successful business.
According to him, digital tools and artificial intelligence cannot replace a sound business model.

“Technology does not make a successful business. It only accelerates what already exists. If your business lacks structure, technology will only make that weakness more obvious,” he said.
Seidu advised young entrepreneurs to identify the problems they intended to solve, understand their customers and validate their ideas before investing heavily in technology.

He also encouraged founders to invest in themselves through learning, research and personal development before seeking investors.
“People think investors are investing in ideas. They are actually investing in founders. Invest in yourself before asking others to invest in your business,” he said.

Also speaking, entrepreneur Ibidunni Oladayo shared practical lessons from his entrepreneurial journey, encouraging participants to remain resilient, embrace continuous learning and build businesses that solve real societal problems.
Drawing from his personal experiences, Oladayo emphasised that entrepreneurship demands discipline, adaptability and long-term thinking. He urged aspiring founders to remain focused despite setbacks, stressing that sustainable businesses are built through consistency, value creation and the willingness to keep learning.

He noted that while access to funding is important, the most valuable investment any entrepreneur can make is in developing character, competence and the capacity to lead.
Cybersecurity Manager, Adeife Adewale, urged entrepreneurs to treat cybersecurity as an essential component of business growth, regardless of the size of their enterprises.

He warned against poor digital security practices, including password reuse and inadequate protection of customer data, stressing that cyber threats affect startups and established businesses alike.
“If you believe in your business, then you must protect it from the beginning,” he said.

Speaking on artificial intelligence, Adewale observed that the rapid adoption of AI had increased the need for stronger AI governance and security.
He urged entrepreneurs to understand how data is collected, processed and protected when using AI-powered platforms, adding that while AI presents enormous opportunities for business growth, customer information must always be handled responsibly and securely.
Later in the programme, Dr. Kola Adesina was represented by Mr. Kingsley Okotie, who presented ₦1 million in seed funding to the winners of the Kola Adesina Business Challenge.

Presenting the cheques, Mr. Okotie commended the creativity, innovation and entrepreneurial drive demonstrated by the participating students, describing entrepreneurship as a powerful tool for solving societal problems and driving economic development.
He said Sahara Power remains committed to supporting initiatives that empower young people and encourage innovation, noting that the seed funding was designed to provide the winning entrepreneurs with the resources needed to transform promising ideas into sustainable businesses.

The presentation of the cheques drew applause from participants and stood out as one of the defining highlights of SEP 6.0, reinforcing the programme’s commitment to connecting student entrepreneurs with opportunities that extend beyond the classroom.

Speaking on the sidelines of the programme, a 300-level Economics student of the University of Lagos, Timiloluwa Oluwatimehin, described entrepreneurship as the process of identifying problems and creating solutions that people are willing to pay for while taking calculated risks.
She said one of her biggest takeaways from SEP 6.0 was the importance of embracing failure as an essential part of the entrepreneurial journey.

“When you fail early, you learn faster, restrategise and build stronger businesses in the long run,” she said, adding that the programme had broadened her perspective on innovation, resilience and business growth.
Chairman of SEP 6.0, Henry Onwuka, said the programme was conceived to equip students with the knowledge, exposure, networks and opportunities required to build businesses capable of competing beyond the university environment.
Mr. Onwuka described the sixth edition as a significant milestone, noting that the initiative had evolved from a faculty-based programme into a university-wide entrepreneurship platform attracting leading business executives, corporate organisations, investors and innovation stakeholders.

According to him, the week-long programme featured a student trade fair, business exhibitions, mentorship sessions, networking opportunities, innovation workshops, free Corporate Affairs Commission (CAC) business registration, business development sessions and access to funding opportunities through partner organisations, including the Lagos State Employment Trust Fund (LSETF).

He explained that the objective of the programme was not merely to encourage entrepreneurship among students but to provide practical support capable of helping them build businesses that could survive and thrive after graduation.
“We want students to leave the university with businesses that can compete in the real marketplace, not businesses that exist only on campus,” he said.

Mr. Onwuka added that SEP 6.0 was intentionally designed to bridge the gap between classroom learning and enterprise development by exposing participants to accomplished entrepreneurs whose journeys would inspire students to build sustainable businesses and become job creators rather than job seekers.

Also speaking, Co-Head of SEP 6.0, Fafoluyi Precious Oluwasemilore, said the initiative was created to provide visibility for student-owned businesses while helping participants translate classroom knowledge into practical entrepreneurial experience.
He described SEP as a platform that continues to encourage students to think beyond academic excellence by embracing innovation, enterprise and problem-solving.

Fafoluyi urged aspiring entrepreneurs not to wait until they had abundant resources before pursuing their ideas.
“You don’t need to start big; you need to start to be big,” he said.
He encouraged students to remain consistent, embrace failure as part of the learning process and continually position themselves and their businesses for opportunities.
Speaking on the success of the programme, Head of Finance and Sponsorship, Olawoagbo Oluwatobi, said securing strategic partnerships for SEP 6.0 demanded persistence, resilience and unwavering confidence in the vision behind the initiative.

According to him, engaging corporate organisations was not without its challenges, but the response received from prospective partners demonstrated that many organisations believed in the impact and long-term value of the Student Entrepreneurship Programme.
He noted that beyond sponsorship, many of the organisations expressed genuine interest in supporting initiatives that empower young entrepreneurs, promote innovation and prepare students for the realities of building sustainable businesses.
Oluwatobi said the confidence shown by sponsors and partners reflected a shared commitment to investing in the next generation of Nigerian entrepreneurs.

He added that the collaboration between corporate organisations, institutional partners and the organising committee played a significant role in the successful delivery of the week-long programme, describing the experience as proof that meaningful partnerships can create lasting opportunities for young innovators.

The Student Entrepreneurship Programme (SEP), the flagship entrepreneurship initiative of the University of Lagos Management Science Association, has continued to establish itself as one of the university’s foremost platforms for nurturing innovation, enterprise and business leadership.
Through mentorship, strategic partnerships, business competitions, funding opportunities, networking sessions and practical learning experiences, SEP 6.0 reaffirmed the university’s commitment to producing graduates who are equipped not only to seek employment but also to build sustainable businesses, create jobs and contribute meaningfully to Nigeria’s economic development.

The successful conclusion of the sixth edition further reinforced the growing role of collaboration between academia, industry leaders and the private sector in shaping the future of entrepreneurship among young Nigerians, while leaving participants with practical knowledge, valuable connections and renewed confidence to build businesses capable of outliving their founders.