News
SEDC Launches Venture Capital Drive to Unlock South-East Business Growth
By Gloria Ikibah
The South East Development Commission has commenced the grand finale of its inaugural South East Venture Capital Programme, marking a major step towards expanding access to investment funding for emerging businesses across the region.
The event, taking place at the International Conference Centre in Enugu, features 50 finalist ventures selected from more than 1,200 applications submitted by entrepreneurs from across the South-East and other parts of the country.
According to the Commission, the initiative forms part of a broader strategy aimed at creating sustainable investment structures for innovation-driven enterprises and strengthening the region’s economic competitiveness.
The finalists emerged after a rigorous selection process involving video pitch reviews, phased assessments and judging rounds. The businesses were grouped into two categories, the Accelerator Track for ventures with measurable market traction and the Incubation Track for early-stage startups with strong growth potential.
Ahead of the final presentations, participants underwent an intensive investment-readiness bootcamp in Enugu focused on business development, investor engagement and pitch refinement.
Speaking before the grand finale, the Managing Director and Chief Executive Officer of the Commission, Mark Okoye, described the programme as a strategic economic intervention rather than a routine competition.
“What is taking place here is not simply a startup pitch event. It is the deliberate construction of institutional capital infrastructure for the South East. For far too long, exceptional entrepreneurial talent in this region has operated without the kind of structured financial backing required to scale sustainably. The South East Venture Capital Program is our response to that gap, carefully designed to create long-term pathways for capital, innovation, and enterprise growth,” he said.
The 30 successful ventures selected from the finale will be unveiled during the inaugural investment ceremony scheduled for Tuesday, May 26, 2026. The selected businesses are expected to receive structured early-stage investment support under the South East Venture Capital Fund.
The Commission explained that the Fund was established to tackle one of the region’s longstanding economic challenges, limited access to institutional startup financing. It added that the investment framework is expected to attract up to $50 million in blended financing from public institutions, development finance partners, private investors and diaspora contributors over time.
Also speaking, the Executive Director of Finance at the Commission and Chairman of the South East Venture Capital Programme, Stanley Ohajuruka, said the initiative had already demonstrated the depth of entrepreneurial talent within the region.
“What this programme has demonstrated very clearly is the depth of entrepreneurial ambition that exists across the South East. The volume and quality of participation affirm that there is no shortage of high-potential ventures in the region. The challenge has always been creating credible structures through which promising ventures can access early support, build investor confidence, and progress toward scale. This initiative is an important first step in building that bridge between enterprise and capital,” he stated.
The programme aligns with the Federal Government’s economic agenda focused on enterprise development, innovation and job creation under the Renewed Hope initiative.
By Prosper Olayiwola
A House of Assembly Candidate for Ikole Constituency 1 on the platform of the African Democratic Congress, ADC, Kayode Arewa Sanni, has called on his constituents, party members and supporters to unite ahead of the 2027 general elections.
Arewa Sanni made the call in Ikole-Ekiti while addressing party faithful and supporters at a stakeholders’ meeting convened to strengthen grassroots mobilisation in the constituency.
He said the 2027 elections present a defining moment for the people of Ikole Constituency 1 to chart a new course of inclusive representation, people-oriented legislation and accelerated development.
The candidate noted that disunity among party members and supporters remains the greatest obstacle to victory, stressing that only a united front can dislodge entrenched interests and deliver the dividends of democracy to the people.
“I appeal to all our party leaders, members, supporters and well-wishers across Ikole Constituency 1 to put aside personal differences and work together as one family. Our strength lies in our unity,” he said.
Arewa Sanni said his candidacy was driven by a desire to give Ikole Constituency 1 a vibrant and responsive voice in the Ekiti State House of Assembly, with focus on youth empowerment, education, healthcare and rural infrastructure.
He assured constituents that if given the mandate, he would prioritise quality representation and ensure that government presence is felt in all communities within the constituency.
He also called on supporters of the ADC across Ekiti State to rally behind the party’s vision of good governance, transparency and accountability as preparations for the 2027 polls gather momentum.
The aspirant expressed confidence that with unity, commitment and collective effort, the ADC would emerge victorious in Ikole Constituency 1 and other constituencies across the state.
No fewer than six inmates have died within one week following a suspected cholera outbreak at the Kurmawa Maximum Prison in Kano State.
Amnesty International raised the alarm in a post on its official Facebook page, calling on authorities to immediately declare an emergency at the correctional facility.
Amnesty said several other inmates were currently receiving treatment, warning that the death toll could be higher as the suspected disease continues to spread among prisoners.
It urged the authorities to immediately transfer critically ill inmates to hospitals for proper medical attention to prevent further deaths.
The organisation warned that failure to urgently intervene could amount to arbitrary deprivation of life, which it described as a serious human rights violation under international law.
Amnesty also expressed concern over the broader conditions in Nigerian correctional facilities, particularly the prolonged detention of inmates awaiting trial.
According to the organisation, detainees without financial means face greater difficulty having their rights protected, with some spending years in custody without being convicted of any crime.
It further said many inmates were being held in overcrowded and unhygienic cells without adequate food and healthcare.
Amnesty called for urgent reforms to improve conditions in Nigerian correctional facilities and ensure compliance with international best practices.
Popular media personality and self-acclaimed relationship expert, Blessing Okoro, popularly known as Blessing CEO, has reportedly lost her second son while remanded in custody.
The development was confirmed in an online appeal by Amira Agiye, head of the Isaamira Love Foundation, who spoke on Okoro’s behalf to request public financial assistance.
She said, “It is sad to announce to you all that Blessing CEO just lost her second son. My name is Amira Agiye.
“I’m here to appeal on behalf of Blessing CEO, who is currently in custody. I understand that people might have different opinions about her and the circumstances surrounding her case.
“And like every one of us, she deserves compassion and an opportunity for redemption.
She needs N20 million to meet the bail requirements. She also needs N36 million to pay the people she owes who brought the case against her.
“Please, Nigerians, let’s forgive her for the sake of that boy who is still in the mortuary. With Blessing’s full consent and authorisation, I’m appealing to all Nigerians to help donate so we can help her out of this situation.”
Also speaking in a voice conversation played by Amira, Blessing, CEO, said, “My second son, Bryan, was full of life. While in custody, I lost Bryan.
I pray this turns out positive so I can leave this place, pick up the pieces of my life and pay my respects to him.”
Recall that the self-acclaimed relationship expert was remanded in Kirikiri Prison over an N69.15 million property fraud trial.
She was granted N20 million bail in July 2026, with two sureties in like sum, and each surety was required to provide three years’ proof of deposits valued at N20 million.
Following her inability to meet the bail conditions, Blessing CEO, remains in prison facility two months after she was granted bail.
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