Industry leaders have urged young Nigerian entrepreneurs to transition from informal hustling to building structured, value-driven enterprises, stressing that innovation, credibility, and strong operational systems are essential for long-term success. This call was made on Wednesday at the BusinessDay Young Innovators Forum, themed “From Hustle to Enterprise,” held at the Radisson Blu Anchorage Hotel, Victoria Island, Lagos.
Speakers at the forum emphasised that the first step to building a sustainable business is identifying the specific problem the enterprise aims to solve. Tokunbo George-Taylor, who anchored one of the key sessions, said many young founders fail because they operate without clear direction. “Find the problem you are trying to solve then that becomes your story and your selling point,” she said.
Taylor added that capacity building, governance, compliance, and trust are the backbone of enterprises seeking global relevance.
“Reinvent yourself, be creative, seek talent, and embrace feedback. Feedback keeps you innovative,” she added.
Brand strategist Olufemi Oguntamu urged entrepreneurs to start small and avoid being overly focused on making quick money. According to him, value creation is the real driver of business growth.
“Start low and don’t be money-centric. Money will come. Value is what speaks,” he said.
Oguntamu noted that showcasing one’s work, nurturing relationships, customising business strategies, and maintaining authentic branding are crucial elements of business positioning.
Read also: Failure to equip youth for AI age could push Nigeria into global irrelevance, stakeholders warn
“Be clean, be credible, and be intentional about your brand. That’s how you build trust,” he said.
Adedoyin Faikun, CEO of Veriline Synergy, emphasised credibility and continuous learning as key growth strategies. Sharing her company’s early journey, she revealed that offering free gigs helped them establish a reputation.
“Educate yourself in your industry. Be credible. We offered free gigs when we started, and that built our name,” she said.
She encouraged young entrepreneurs to prioritise competence over immediate profit.
Speaking on market realities, Ogechi Okwechime, Divisional Head at Interswitch, stressed that Africa is a diverse business terrain.
“Africa is not a single market; it is 54 distinct markets,” she said.
Okwechime advised founders to collaborate rather than compete prematurely.
“Partner, collaborate, and then provide value. Once you have built credible solutions, you can face competition,” she said.
She emphasised that innovation and technology must drive growth before scaling.
“Put structure in place and ensure client retention. You cannot scale if your customers don’t stay,” she said.
Entrepreneur Abu Andrew noted that every hustle is “a seed of enterprise,” adding that resilience and consistency are critical in navigating the challenges faced by entrepreneurs. “Nigeria does not lack talent. What we need is structure. Start small, collaborate, and be consistent. Your voice matters,” he said.
In her closing remarks, Chinyere Alimona encouraged young Nigerians to embrace authenticity and begin their entrepreneurial journeys even if they lack perfect conditions. “There is beauty in being original. Start somewhere we will get there,” she said. She also urged young people to participate actively in politics, noting the rise of younger leaders across Nigeria.
The forum concluded with a unified message: young innovators must prioritise problem-solving, structure, credibility, and collaboration to successfully transition from hustle to enterprise.
