Nigerian Leaders Urge Entrepreneurs: Put Purpose Before Profits for Lasting Impact

Written By: Flipbz.org

Prominent voices from Nigeria's business landscape are calling on startup founders and small business operators to rethink their game plan. Instead of chasing quick cash, they say, build companies that pack a punch for society, guided by strong morals and a vision that outlives the founder.

This fresh push came at the 2025 Social Enterprise Dialogue, a lively forum organized by the Enterprise Development Centre at Pan-Atlantic University. Teaming up with Fidelity Bank and the MTN Nigeria Foundation, the event kicked off as part of Global Entrepreneurship Week. Under the banner of "Purpose meets profit: building an impact-driven enterprise for a better future," speakers hammered home the idea that true success blends heart with hustle.

At the heart of the discussion was a simple yet powerful message: purpose isn't a nice-to-have, it's the engine. Odunayo Sanya, executive director at the MTN Nigeria Foundation, took the stage for the keynote and laid it out plainly. Entrepreneurs, she said, must anchor their ventures in clear goals that go beyond the bottom line. "When you have a purpose, and your purpose drives you, you will be guided by pillars to purpose, which include ethics, values, and good governance," Sanya explained. She painted a picture of businesses as forces for good, not just profit machines.

Sanya didn't stop there. She challenged attendees to dream bigger and plan smarter. Too many owners get stuck in short-term thinking, she noted, settling for modest goals that fizzle out. "They shouldn't settle for small visions of their businesses, nor should they accept small versions," she urged. "They should have a mental image of what their business is about in the long term. And they shouldn't play the short-term game, but they should play the long-term game, where even after they're long gone, their efforts through their establishments will continue to serve humanity."

Echoing that sentiment, Dr. Olawale Anifowose, managing director of the Global Entrepreneurship Network's Nigeria chapter, zeroed in on innovation as the secret sauce. He advised local small businesses to craft products and services that don't just make money but also tackle real community pain points. "Create offerings that not only generate revenue but also fulfill the needs of both individuals and the community," Anifowose said, stressing how homegrown ideas can spark widespread change.

Fidelity Bank's involvement added real muscle to the conversation. Chiwike Okere, team lead in the bank's SMEs Banking Group, highlighted their commitment to fueling these ambitions. "Fidelity Bank, being a bank that is focused on supporting entrepreneurs and SMEs, deems it very key and important to be associated with this event," Okere shared. "And that is why we are partnering with one of our long-standing partners, EDC, to support the various activities that are geared towards showcasing how different kinds of institutions can support entrepreneurs, and more importantly, showcasing how our bank is supporting entrepreneurs in Nigeria."

One standout tip from the panel? Don't overlook culture in your strategy. As one speaker put it, culture will always trump tactics in the end, eating strategy for breakfast if you let it. By weaving in local traditions and shared values, entrepreneurs can create resilient brands that resonate deeply and endure.

The dialogue wrapped with a buzz of inspiration, leaving participants fired up to blend profitability with positive change. In a tough economic climate, this reminder feels timely: the most enduring empires aren't built on dollars alone, but on a drive to make the world a bit better. For those tuning in, it's a nudge to level up, think legacy, and lead with purpose.