A student-focused empowerment initiative is expanding entrepreneurial support within Lagos State University as private organisations and non-governmental groups increasingly step into funding gaps affecting young Nigerians.
Speaking at the sixth edition of the “Hanging Out with Dr. Riches” programme held at LASU on Wednesday, Olawunmi Oni-Buraimoh, the convener of the event, founder and chief executive officer of the Women and Girls Empowerment Foundation International (WOGEFI), said the initiative has evolved from a mentorship platform into a structured empowerment scheme for student entrepreneurs.
According to her, the programme now connects students to interest-free loans, mentorship opportunities, training, and wholesale business supply channels aimed at helping them generate income while still in school.
“This year is different because we introduced a real empowerment platform,” Oni-Buraimoh who doubles as a professor of English said. “Before now, it was mostly about sharing experiences and exposing students to real-world knowledge beyond the classroom.”
The initiative secured partnerships with financial institutions and businesses, including FCMB, Imperio Cosmetics, and Viva Plus, to support students with funding and enterprise opportunities.
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Under the arrangement, selected students will receive business loans facilitated through FCMB under a Mastercard Foundation-backed scheme.
Oni-Buraimoh said the foundation would absorb the 0.75 percent interest component for the first batch of beneficiaries, making the loans effectively interest-free.
She disclosed that 20 students had already been pre-qualified for immediate disbursement, while others would continue to access the funding through standard application processes.
“The money is there for young people between ages 18 and 35, and they’ve even extended it to 40 now,” she said. “So long as the fund exists with the bank, our students can access it through us.”
The programme also seeks to lower entry barriers for student-run businesses by creating direct supply arrangements with participating companies.
According to Oni-Buraimoh, Imperial Cosmetics and Viva Laundromat have established distribution structures within LASU, enabling students to obtain products at wholesale prices for resale.
“You require a lot of money to go to the market and buy from distributors,” she said. “Now the distributors are coming into the university environment, making it easier for students to start small businesses.”
The initiative comes amid worsening economic conditions in Nigeria, where inflation and rising living costs have intensified financial pressures on students and young people.
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Across universities, more students are increasingly turning to small-scale trading, digital services, and side businesses to support themselves through school.
Oni-Buraimoh said more than 1,800 students registered for the empowerment programme, with requests ranging from loans and mentorship to vocational training and business guidance.
“There’s no limit to the kind of empowerment,” she said. “It’s not just about money. It’s about training, mentoring, and giving students the push they need.”
She added that the foundation plans to expand the initiative beyond LASU into other tertiary institutions across Lagos State and eventually nationwide.
“We want companies and organisations to see universities as the right place to begin supporting young people,” she said.
“A lot of graduates are asked about work experience after school, but nobody cultivated them while they were students. We want to bridge that gap.”
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