By Tony Adibe
The Godfrey Okoye University (GOUNI), Enugu, said it has allocated ₦7 million as seed capital to 140 student business groups under the Student Training for Entrepreneurial Promotion-Sustainability (STEP-S) of the Directorate of Entrepreneurship (DoE).
The Director of the Directorate, Mr. Christopher Uwakwe, announced this while addressing the beneficiaries. Uwakwe explained that the seed fund would serve as startup capital to support various innovative business ideas developed by the student groups.
He said that each business group comprises five students who were self-selected and are required to focus on one primary Sustainable Development Goal (SDG), including SDGs 8 and 12, which emphasise Decent work and responsible production and consumption.
Uwakwe encouraged the beneficiaries to develop products and services that are people, planet and profit-oriented, adding that each group is expected to return only the seed capital while keeping the profit for business growth. He recalled that since the programme began in 2018, it has “achieved an over 95 per cent loan repayment rate,” a success he attributed to effective student participation and the initiative’s reliability.
Uwakwe said: “We are not interested in their profit. What matters is the return of the seed capital so that others can benefit. They should be motivated by the legacy they are leaving for future students.”
He, however, warned that in the rare cases of failure, the Directorate conducts thorough business forensics.
“Entrepreneurship is not a walk in the park. Things can go wrong even when you try your best. But when a group is inactive, produces nothing, and suddenly the money disappears, we must account for where it went,” he warned.
According to Uwakwe, the programme “promotes group dynamism, tolerance, and teamwork,” stressing that sustainable businesses thrive on strong partnerships. The Director further disclosed that many past beneficiaries have continued their ventures, with some expected to evolve into GOUNI Alumni companies.
He announced that the university will host a Town and Gown event on December 4, 2025, where students will showcase their business ideas and potentially attract investors. He also highlighted the university’s business incubation center, which supports idea development.
The Director urged members of staff to take greater interest in the programme by starting businesses or becoming trainers. Uwakwe, however, described the Vice-Chancellor, Very Rev. Fr. Prof. Christian Anieke, as an entrepreneurial leader whose innovation led to the implementation of the STEP programme at GOUNI.
Godfrey Okoye University is the only university in West Africa currently adopting this model, with over 250 universities in Nigeria applying to join, according to the Director. He explained further that the programme “equips students with knowledge, practical skills and confidence” for an entrepreneurial career.
NewsBits learnt that students gained practical skills in identifying opportunities, developing marketing strategies, overcoming barriers, registering a business, and more.
