Godfrey Okoye University Distributes ₦7 Million Seed Capital to 140 Student Business Groups

Godfrey Okoye University (GOU), Enugu, has reinforced its commitment to student entrepreneurship by disbursing ₦7 million in seed capital to 140 student business groups under the STEP-S programme of the Directorate of Entrepreneurship (DoE).

Speaking to the beneficiaries, the Director of the Directorate, Mr. Christopher Uwakwe, explained that the funds are intended as startup capital to support the innovative business ideas developed by the students. Each group, consisting of five self-selected students, is expected to focus on a primary Sustainable Development Goal (SDG), including SDGs 8 and 12, which promote decent work and responsible production and consumption.

Mr. Uwakwe urged students to develop products and services that are both people-focused and environmentally responsible while ensuring profitability. He emphasised that the university is not interested in sharing in their profits, requiring only the repayment of the seed capital to enable continued business growth.

Since the programme’s inception in 2018, it has achieved a remarkable loan repayment rate of over 95 percent, a success attributed to student dedication and the programme’s structured approach. Mr. Uwakwe highlighted the importance of transparency, noting that any inactive group or unaccounted funds are subjected to thorough business forensics to identify challenges and resolve them.

He added that the STEP-S programme promotes teamwork, group dynamism, and tolerance—key elements for sustainable entrepreneurship. Many past beneficiaries have sustained their ventures, with some projected to evolve into full-fledged GOU alumni companies.

Mr. Uwakwe also announced that GOU will host a Town and Gown event on December 4, 2025, providing students an opportunity to showcase their businesses and attract potential investors. He pointed to the university’s business incubation centre, which supports students in refining and scaling their ideas.

The director encouraged staff to engage more actively in the programme, either by starting their own ventures or joining as trainers. He credited the Vice-Chancellor, Very Rev. Fr. Prof. Christian Anieke, for championing the STEP model at GOU. Currently, GOU remains the only university in West Africa implementing this model, while more than 250 universities across Nigeria have applied to adopt it.

Mr. Uwakwe concluded that the programme equips students with practical knowledge, skills, and confidence to build sustainable entrepreneurial careers, covering everything from opportunity identification and marketing strategy design to overcoming challenges and registering businesses.