Mentorship programmes are increasingly recognised as crucial for fostering entrepreneurial success among university graduates in Nigeria's vibrant startup ecosystem. A comparative analysis was conducted using data from a survey of 150 Lagos University alumni who have started businesses since graduating. The study employs statistical methods to analyse the relationship between mentorship involvement and venture success indicators, including revenue growth rates and investment returns. Among surveyed graduates, those who engaged in formal mentorship programmes reported an average annual revenue growth rate of 18% compared to 10% for non-mentored ventures over a three-year period. Investment returns were also significantly higher in mentored businesses—averaging 50, 000 per year versus 30, 000 for non-mentored enterprises. This study provides evidence that formal mentorship programmes can positively influence the financial performance and growth trajectory of Lagos University graduates' entrepreneurial ventures. Universities should consider integrating structured mentorship opportunities into their postgraduate curricula to support alumni entrepreneurship, thereby enhancing both local and national economic development. Lagos University, Mentorship Programmes, Entrepreneurial Success, Financial Metrics, Business Growth
Nwachukwu et al. (2003) studied this question.