Precious Orunduyi
Ever wonder what is fueling the drive behind being a student and an entrepreneur simultaneously? Is it passion, desperation to be financially independent, or both? I am ever curious when I see Nigerian students venturing into what they call ‘side hustles.’ When the economy was booming in Nigeria, students used to rely on their parents and now resolve to engage their hands, lives in whatever their hands find to do. For some, passion drives them into entrepreneurship, while the desire for ‘extra money’ leads others to it.
Either way, as long students are productively and profitably engaged in something meaningful, and that ‘meaningful’ thing isn’t getting in the way of their academic success, the rise of student entrepreneur is growing in our campuses Though it is easy to note, the challenges that come with student entrepreneurship have never received enough attention.
Voices from student entrepreneur I had conversation with include:
“‘It got to a point that it was challenging for me to manage studying, the business, and other things I was engaged in”. Joseph a 300 level student mentioned
“I had no choice but to continue because I needed to have something to fall back on as another source of income, as the funds from home were not enough to cater for my needs”. Abigael, a 200 level student shared
“My motive is derived from just ‘practicing what I learnt’ to ‘having something to fall back on when there’s nothing coming from home”, says Charity Michael, a 300-level student of Adekunle Ajasin University, who runs a confectionery business.
Even when the journey becomes tough, what gets many of these students on track in juggling schoolwork with running a business, is the fear of lack of basic necessities when financial support from home dwindles.
Finding passion through pain
Beyond passion, is it safe to say that money is often the deeper motivation?
“‘I started my crocheting business due to the passion I had for it before gaining admission into the university, and that’s part of what keeps me going.
I get to create beautiful designs from scratch, earn money on the side, and create a name for myself doing what I love,’” says Demilo, a 300-level student of Medicine and Surgery at the Federal University of Technology, Akure.
Real challenges of being a student entrepreneur
Time management is one of the major challenges facing student entrepreneurs. Juggling lectures with business can be stressful. For instance, having lectures all day and having product order to supply. Charity said I have many challenges in balancing this. The toll it takes on me remains excruciating each time it happens like that.
Aside from time, another challenge is a lack of capital. There is no access to funding, and all they have to rely on is their pocket money, or loans from friends.
“Abimbola Olanipekun, a 300-level Medicine and Surgery student at FUTA, mentioned:
‘I started this business last year with no capital—just hope. I can testify today that I’ve made a lot of profits though slowly for now. I am hoping on God.’”
Another student entrepreneur who floated Abimbola’s footwear-making business said her business could have boomed if there was enough capital to kickstart it well. This is a major struggle of one who mustered the courage to begin, even with nothing. Starting small is great, but starting big can be better.
The sacrifices of these young adults today are daunting. Trying to set up a business while in school is no joke. The sleepless nights, countless breakdowns, skipped classes, and the constant push to the very edge will forever be celebrated, both in silence and loudness.
There are thousands of other students like Charity, Demilo, and Abimbola trying to push through in their different schools.If only time would be a bit kinder to them.
Urgent call for access to capital for student entrepreneur in Nigeria
If there are access to business funds for student entrepreneurs in Nigeria today, empires would grow out of tangible goals, formerly idle minds, and unused hands. Despite the stress, many student entrepreneurs are coping.
They plan their business tasks around lecture-free hours, weekends, and late nights.
With advertising, social media platforms are helping to reach customers without much hassle but the fact remains that some of the platforms will require paid adverts to scale.
Whatever our views are, undoubtedly, student entrepreneurship is a response to the economic reality of Nigeria. It is a test of strength and independence—a sign of a generation that refuses to wait for opportunities, but chooses instead to create them.
#Precious Orunduyi, a fellow of Africa Foundation for Young media professionals’ Campus Journalism, ethics safety, data-driven media fellowship 2025
Photo credit-businessdayng
