At the recent Lagos launch of his new book Beyond Access to Capital: Vital Business Knowledge for Entrepreneurs, Business Managers, and Startup Incubators , renowned business strategist and finance expert Tunde Ogunje urged Nigerian startups and entrepreneurs to focus on building internal structures rather than rushing to secure funding.
Ogunje, who has over two decades of experience in finance, capital markets, and economic development across Nigeria and internationally, argued that many Nigerian startup funding challenges stem not from a lack of capital, but from poor business structures, weak management systems, and strategic misalignment.
“This book is not an attempt to undervalue the role of adequate financing in business success, but to emphasize that access to finance is no guarantee of success. It’s experiential—an account of what I observed that led businesses to either succeed or fail,” Ogunje explained during the event.
The book draws from real-world case studies and years of professional observation, highlighting how many Nigerian startups fail not due to a lack of funding, but because of flawed operations, poor planning, and inadequate business frameworks.
Ogunje challenged the common misconception that funding alone can guarantee growth or sustainability. He emphasized that long-term profitability depends on strong operational, financial, and marketing systems.
“Startups must realise that funding is only a tool; it’s not the foundation. Without structure, even N100 million can disappear without results. Structure is what sustains a business, especially during tough times,” he said.
The author also stressed that the book is not only for entrepreneurs but also for business managers, investors, accelerators, and incubators seeking to understand what truly makes a business scalable and investable.
The launch event, which attracted industry professionals, startup founders, corporate executives, and members of the broader business community, received widespread praise for its timely and practical insights into the root causes of business failure in Nigeria.
As Nigerian startup funding challenges continue to dominate discussions in the ecosystem, Ogunje’s message offers a fresh perspective: sustainable growth begins with solid foundations, not just deep pockets.
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