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South-East Startup Boom Gains Momentum as 210 Ventures Advance in Funding Race
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By Gloria Ikibah
The South East Development Commission has moved 210 startups into the next phase of its venture capital programme, marking a major step in its push to boost innovation and enterprise across the region.
The shortlist emerged from a pool of more than 1,200 applications submitted by entrepreneurs from across the South East, reflecting growing interest in technology-driven business solutions.
In a statement signed by the Executive Director, Finance and Chairman of the programme, Rt. Hon. Stanley Ohajuruka, the selected group includes 128 startups placed in the Incubator Track and 82 in the Accelerator Track, each targeting different stages of business development.
He said the selection followed a rigorous and structured screening process designed to ensure only the most viable and scalable ideas progressed.
The Commission described the outcome as a significant milestone in its broader strategy to nurture innovation, support emerging businesses and strengthen the region’s entrepreneurial ecosystem.
It also pointed to the strong quality and volume of applications as evidence of a rising wave of enterprise, particularly in sectors driven by technology and innovation.
Strict evaluation benchmarks were applied throughout the process, with emphasis placed on transparency, credibility and maintaining high standards as the programme advances.
The statement read:“The evaluation process was designed to ensure fairness, consistency, and alignment with the objectives of the program. Applications were first screened for eligibility, including demonstrable ties to the South East, the presence of a meaningful technology component, and full compliance with submission requirements.
“Eligible startups were then assessed across key criteria such as problem–solution fit, execution, market opportunity, and technology. For more advanced ventures, traction and revenue were critical considerations, while early-stage startups were evaluated based on validation and evidence of emerging demand.”
The Commission said the startups that made it to the next stage showed strong potential for growth and scalability.
“The startups advancing to this stage have demonstrated clarity of thought, tangible progress, and credible potential for scale. They now proceed to the next phase of the competition, which will involve a video pitch assessment designed to provide deeper insight into founder capability, strategic thinking, and execution readiness”, it added.
The Commission further announced that the competition will climax in May with a grand finale and investment ceremony.
“The competition will culminate in a Grand Finale scheduled for Monday, May 25, 2026, where top- performing startups will present their ventures before a live audience of investors, operators, policymakers, and other key stakeholders within the innovation ecosystem.
“This will be followed by an Investment Ceremony scheduled for Tuesday, May 26, 2026, where selected startups will receive funding and enter the next phase of structured support under the SEVCP.
“The South East Development Commission remains committed to building a strong pipeline of investable ventures, strengthening the regional innovation ecosystem, and creating pathways for startups to scale sustainably.
“We extend our appreciation to all founders who applied and to our ecosystem partners, Genesys Tech Hub, Startup South, and The Garage, for their role in supporting a credible and high-quality evaluation process. The work continues,” it stated.
The Defence Headquarters has clarified the recent public discussions surrounding the neutralisation of a prominent terrorist commander, Abu-Bilal Al-Minuki.
A collaborative operation with the United States Africa Command on May 16, 2026, led to the killing of Bilal Al-Minuki.
Following the development, certain media outlets referenced a similar operation from 2024, which involved the elimination of a terrorist commander with the same name.
This has understandably raised questions regarding the identity of the individual who was recently neutralised.
In a statement signed by Somalia Uba, Director of Defence Information, the DHQ said: “It is crucial to note that in the North East region and throughout the Lake Chad Basin, the use of similar or identical names, aliases and nom de guerres is prevalent among ISWAP and Boko Haram terrorists.
“This practice is a deliberate part of their indoctrination strategy, aimed at obscuring identities. This fact has been corroborated over the years during counter-terrorism operations in Northeast Nigeria.
“The Abu-Bilal Al-Minuki who was eliminated on May 16, 2026, has been positively identified through human intelligence and technical surveillance as a senior global operative within the Islamic State network, possessing direct connections to international terrorist coordination, funding and operations across the Sahel. Thus, there is no ambiguity regarding his identity.”
The statement added that the strike represents a significant achievement in the country’s counter-terrorism initiatives.
It said the Armed Forces of Nigeria, in collaboration with the United States, remain dedicated to dismantling terrorist networks and will continue to disseminate verified information through official channels.
It called on the general public and the media to rely solely on authorised sources to prevent confusion arising from coincidental name similarities.
Three aspirants of the All Progressives Congress, APC, who were anointed as consensus candidates by Governor Lucky Aiyedatiwa of Ondo State for House of Representatives seats have been disqualified by the party.
The three aspirants endorsed by Aiyedatiwa, who have been screened out, were identified as Tajudeen Adefisoye (Idanre/Ifedore federal constituency), Victor Ategbole (Akoko South-East/South-West federal constituency) and Samuel Arowele (Owo/Ose federal constituency).
Others not cleared along with the governor’s preferred aspirants are Seun Ajongbolo (Akoko South-East/South-West federal constituency), Morufu Ibrahim, Oyeniyi Oseni ((Akoko North-East/North-West) and Olaleye Adedipe (Akoko North-East/North-West).
With the reasons for the disqualification of the aspirants not revealed in a statement issued on Saturday by the National Publicity Secretary of the party, Felix Morka, some aspirants in the state have kicked and condemned the endorsement of the anointed aspirants.
Meanwhile, there was large turnout of APC members on Saturday during the direct primaries conducted across the 203 wards of the state.
In Akur metropolis, party members arrived at the designated wards in their numbers around 8:00 am with the officials of the party doing a headcount of everyone.
At Wards 4, 5, and 8, members of the party were seen queuing behind the poster of the aspirants they are supporting.
Meanwhile, there was an uproar in some of the wards as party faithful lamented that electoral officials were not on the ground to take record of the exercise.
Six suspected Islamic State West Africa Province members, including a bomb expert, were killed early Friday when an improvised explosive device detonated prematurely in Marte Local Government Area.
Security sources told Zagazola Makama that the blast occurred around 7:00 a.m. on May 16, 2026, at Jubilaram while the group was assembling the device. The team was led by Abu Umar, identified as a bomb expert, who died in the explosion along with five other militants. Three others were reportedly injured.
Intelligence assessments say the deceased were part of ISWAP’s IED cell operating along the Marte–Kerenoa–Wulgo axis in the Lake Chad Basin. The explosion destroyed the site, located between Arinna Maimasallaci and Arinna Ciki, and is expected to temporarily disrupt the group’s bomb-making operations in the area.
Military sources said the incident could weaken ISWAP’s capability along key routes in the Marte axis. Authorities are considering follow-up air and ground operations to exploit the disruption.
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