UNILAG VC, Fakorede Describe Failure as Integral Part of Running Business

The Vice-Chancellor, University of Lagos, Prof. Folasade Ogunsola has described failure as an integral part of running any business.

Ogunsola stated this at the presentation of the Corporate Affairs Commission (CAC) business certificates to students of the institution by the Ignite Career Initiative recently in Lagos.

The Ignite Career Initiative is a non-governmental organisation initiative, aimed at empowering young people with admirable and lofty entrepreneurial ideas, by providing a veritable platform to actualise their ideas with sustainable results.

In September 2022, Ignite Career Initiative registered several businesses for students of the university. This year, 350 CAC business certificates have so far been presented to students.

According to Ogunsola, failure will always occur in any human endeavour, therefore, the need to always embrace it as a friend, rather than foe.

“We must strive to embrace and learn from failure and never to give up. We must keep moving forward,” she said.

The VC urged the “student-preneurs” that graced the occasion to imbibe honesty, ethics and integrity, when running their businesses.

“Approach every business ethically. What is in your mind is what you express. Guard your mind, as it shapes your actions and character,” Ogunsola said.

Also speaking, Aare Bashir Fakorede, Founder, Aare Bashir Fakorede Foundation, encouraged students to uphold ethics and integrity in their business endeavors.

The founder, who was represented by his wife, Mrs. Tayo Fakorede, also emphasised the need to accept failure whenever it comes and build resilience.

He expressed the foundation’s belief in the potential of youth and pledged its continuous support to student businesses.

Speaking on behalf of the Managing Director of NEM Insurance, Mr. Tope Smart, the Group Managing Director, Mr. George Emefiele, expressed satisfaction with the organisers of the event and affirmed the company’s commitment to supporting the initiative.

The event also featured goodwill messages by Mr. Tobi Oluwole, Deputy Director of Small and Medium Enterprises Development Agency of Nigeria (SMEDAN); and Mr. Uche Nwachukwu, Group Head of Business Development at Bank of Industry (BOI).

They represented the Directors of SMEDAN and BOI, respectively.

There was also a brief address by Mofiyinfoluwa Akin-John, a 500-level Law student; testimonials from previous recipients of CAC certificates.

The high point of the event was the presentation of CAC certificates to 10 business owners, conducted by the vice-chancellor, alongside Mrs. Fakorede and the co-founder of Ignite Career Initiative, Hon. Moyosore Adebanjo

https://meet.google.com/call?authuser=1&hl=en&mc=KAIwAWgAmgEUOhJwaW50b194Y3JzYmlwNDJ5NXKiATYaAhAAMgJQADoCEAFKBAgBEAFaAggAagIIAXICCAF6AggCiAEBkgECEAGaAQQYASAAogECEACyAQcYAyAAKgExwgECIAHYAQE&origin=https%3A%2F%2Fmail.google.com&iilm=1724115340933

Displaying IMG-20240819-WA0029.jpg.