To beat the current economic recession, thousands of students in higher institutions of learning across the country have taken to engaging in different business ventures in their campuses, investigations by The Point has revealed.
Many of them, it was gathered, are leaving nothing to chance in their quests to brace for the challenge of youth unemployment after graduation.
Scores of the student-entrepreneurs engage in businesses such as sale of clothes, including underwear, photography, unisex salon, cyber café, dry cleaning and fashion designing, among others.
Current statistics from the National Bureau of Statistics have shown that the number of jobs created in 2016 is lower than the applicants searching for white collar jobs.
It also showed that the population of job seekers has risen to 2.6 million annually, but there are no new jobs generated to accommodate the millions of graduates being turned out annually.
But the fear of unemployment has motivated some of these students, as they are determined to take their future in their hands, building their businesses from their undergraduate days.
A Higher National Diploma II student of Mass Communication of the Abraham Adesanya Polytechnic, Ijebu Igbo, Ogun State, Mr. Mark Oni, is just one of such student-entrepreneurs, determined to ensure that they stand heads and shoulders taller than their peers, who are not self-employed.
As far as Oni, who is the Managing Director of Cleanest Laundry Services is concerned, his firm will become a leading brand in the dry cleaning services sub-sector in the next five years.
He said, “I saw the need to help staff in the school premises and students, who don’t have time to wash their clothes and they need to look good. I started by going to the staff quarters to ask if they needed to wash and iron their dresses.
“I make more than N15,000 naira at the end of every month. Although it’s little, it goes a long way in sustaining me in the meantime. Many students have realised that there are no longer job opportunities outside school, so they prefer doing buying and selling, because human beings must buy to satisfy their wants.”
A 500-level Agricultural Extension student of the Federal University of Agriculture, Abeokuta, Ogun State, Ms. Chinwe Kingsley, sells female underwears.
According to her, she buys the materials at cheaper rates from Cotonou, Benin Republic, and sells at a price lower than what is obtainable in Aba, Abia State and other markets around.
“Students are my immediate customers, and they are good customers, as my wares do not stay long before they are finished. Part of the profit I make, I re-invest in the business, while the rest I use to take care of myself on campus,” she said.
Most of the student-entrepreneurs strategically positioned their businesses in specific areas to make them irresistible to their colleagues. For instance, a 300-level student of Geography at the Ahmadu Bello University, Zaria, Kaduna State, Mr. Segun Banjo, told
The Point that he chose to reside in the hostel because of his business. Banjo sells shirts, trousers and foot wears for both male and female students.
According to him, his target are the rich students he described as ‘big boys and babes’ on campus. He hawks the products from room to room on the campus. “Most times, I take them to offices for staff to buy. My entrepreneurial spirit has made my lecturers like me, as they were forced to patronise me.
I buy my wares in Lagos almost on a monthly basis,” he said. Mr. Ben Obarole, a 400-level student of Fishery at the Kogi State University, Ayangba, said that he decided to invest in a clothing line in the school, having observed the high demand for blazers, bow ties and lapels from wealthy students and some lecturers.
Obarole, who is the boss of Benkings Couture, said that before he ventured into the business on campus, some of his clients used to import their wares from the United Kingdom, the United States of America or patronise big stores in Lagos. “Any reasonable and responsible man would want to become independent early enough.
I ventured into the business because of my flair for clothes, and the rate at which students patronise clothing boutiques. I learnt how to make them myself and started the business proper with the money I saved,” he said.
Like other entrepreneurs, the young talents also have their challenges, which is principally about combining business and academics.
“I do not have enough persons to support me during production; so, I do it all alone, and most times, I do not have the strength to study. But despite that, I still make an average of N50,000 every month,” he added.
It’ll reduce unemployment rate – Experts
Meanwhile, economists have praised the student-entrepreneurs for their efforts at being independent.
An economist, Mr. Funsho James, explained that while human wants remained insatiable, there would always be increasing demands for the product and services provided by this category of students.
