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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.

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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.

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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.

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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.

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“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.

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2027: Bende Monarchs Endorse Kalu for Third Term, Reject Zoning Claims

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Qqqqqq…as Kalu pledge more development for constituents

By Gloria Ikibah

Traditional rulers in Bende South State Constituency (Ikwuisi) have thrown their weight behind the third-term re-election bid of the Deputy Speaker of the House of Representatives, Rt. Hon. Benjamin Okezie Kalu, dismissing claims that an existing zoning arrangement should prevent him from seeking another mandate in 2027.

The monarchs made their position known during a meeting with the Deputy Speaker in Bende, where they unanimously praised his performance in office and urged him to seek re-election.

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Speaking on behalf of the traditional rulers, Chairman of the Bende South State Constituency Traditional Rulers Council, Eze Uchendu Okorie, Ekwo II of Akaekwo Uzuakoli, commended Kalu for what he described as quality representation and visible development across the constituency.

He said: “What you’re doing in Bende Federal Constituency is commendable. We are fully supporting you. Keep moving forward. We hear and watch impressive stories about your achievements in the news. It is not easy, but you are doing well. Be courageous and do not lose sleep over anything. Uzuakoli and all the wards in Bende are fully behind you.

“All of us here, in one voice, are saying you should go for a third term. After that, we can come to the table and discuss other issues. We are solidly behind you and we will walk the talk. Whoever is contesting against you is challenging efficiency and competence, and we will not allow that. You have done well and we are proud of you”.

The royal fathers took turns to commend the Deputy Speaker’s legislative achievements, constituency projects and influence within the National Assembly, describing his tenure as one that has attracted unprecedented federal presence to Bende Federal Constituency.

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One of the monarchs, Eze P.C. Onyegbu, dismissed reports of a zoning arrangement for the House of Representatives seat, insisting that no such agreement existed.

“The issue of zoning has always been distorted. We know the struggles that brought us to where we are today. Of all those who have represented Bende in the House of Representatives, none has surpassed what Benjamin Kalu has done. In terms of projects, quality representation, oversight functions, networking and attracting federal presence, he has distinguished himself.

“A legislator must build strong relationships across the country. Without networking, you cannot attract meaningful projects to your constituency. His ability to build bridges is one of the reasons Bende is benefiting today. The image he created for the House projected him to the office he currently occupies. The position of Deputy Speaker is not an ordinary one. If Bende compromises this opportunity, we will live to regret it. His position is not only important to Bende but also to Abia State, the South East and the entire Igbo nation. We are proud of him and we will take his message and promises to our people,” Onyegbu stated.

Also speaking, Eze Patrick Udeh said Kalu’s leadership had brought pride not only to Bende but to the entire South-East.

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“God’s grace is upon you. You are serving us well, not only in Bende but across Igboland. Anyone seeking to contest against you should first show us what they have done so that comparisons can be made. The traditional rulers of Bende are not joking. We are fully behind you. Go for a third term without fear and continue making us proud,” he said.

Responding, Kalu thanked the traditional rulers for their endorsement and confidence in his leadership, describing their support as a source of inspiration.

He highlighted several projects attracted to the constituency in the areas of infrastructure, healthcare, education, agriculture, youth and women empowerment, assuring the people that he remained committed to delivering more dividends of democracy.

“I am deeply humbled by your confidence and support. Everything we have achieved has been possible because of your prayers, cooperation and trust. I remain committed to providing quality representation, attracting more development projects and ensuring that Bende continues to enjoy the benefits of effective leadership. By the grace of God, the best is still ahead of us,” the Deputy Speaker said.

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The meeting comes amid growing political activities ahead of the 2027 general elections, with traditional rulers in the constituency expressing confidence that continuity in representation would further advance development across Bende Federal Constituency.

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NASC Confirms Ibrahim Sidi as Substantive Clerk of House of Representatives

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By Gloria Ikibah

The National Assembly Service Commission (NASC) has confirmed the appointment of Mr Ibrahim Sidi as the substantive Clerk of the House of Representatives, bringing to an end his six-month tenure in an acting capacity.

The confirmation was approved alongside the appointments of several other senior officials during the 31st meeting of the Commission, held on Tuesday at its Conference Room in Abuja.

A statement issued by the Director of Public Affairs of the Commission, E.N. Anyigor, said the confirmation followed the Commission’s decision to elevate Sidi and the affected officers to acting positions on 20 January 2026.

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Other officials whose appointments were confirmed include Mrs Fortune Ihua-Maduenyi as Secretary of Protocol and Inter-Parliamentary Relations, Asien Fatima Nana as Secretary of Zonal Liaison Offices, Engr. Bashir Layya as Secretary of Estates and Works, Siyaka Abdulwahab Sadiq as Deputy Clerk (Legislative), House of Representatives, and Dauda Bulama Bukar as Deputy Clerk (Administration), House of Representatives.

Announcing the development, the Commission stated: “The National Assembly Service Commission has confirmed the appointment of Mr. Ibrahim Sidi as the substantive Clerk of the House of Representatives.

“The Commission approved Sidi’s confirmation along with other senior officers today (Tuesday, 28th July, 2026) at the 31st Meeting of the 6th NASC held at the Commission’s Conference Room.”

The Commission further recalled that the affected officers had been serving in acting capacities since January.

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“It would be recalled that the Commission had on 20th January, 2026 elevated Mr. Ibrahim Sidi and the other officers to their different posts in acting capacity,” the statement said.

The confirmations formally place the officials in their respective positions as the Commission continues efforts to strengthen the administrative leadership of the National Assembly.

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Reps Weigh Funding Reform for South-South Commission as Oil Regulators, Industry Raise Fresh Concerns

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By Gloria Ikibah

The House of Representatives has intensified consultations on a proposed amendment to the South-South Development Commission (Establishment) Act, 2025, seeking stakeholders’ input on plans to strengthen the Commission’s funding base while balancing the interests of government, host communities and the petroleum industry.

At the resumed public hearing on Wednesday, the House Committee on the South-South Development Commission engaged government agencies, petroleum regulators, oil producers and other stakeholders on the proposed legislation, which seeks to expand the Commission’s funding sources to accelerate development across the oil-rich region.

Committee Chairman, Rep. Julius Pondi, explained that the hearing was reconvened after several critical stakeholders were unable to attend the earlier session held on July 8 because they were participating in the Nigerian Oil and Gas (NOG) Conference.

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According to him, “the committee considered it necessary to provide all relevant stakeholders with an opportunity to contribute to a bill with far-reaching implications for the region and the petroleum sector”.

Pondi reaffirmed the commitment of the House to an “open and participatory legislative process”, noting that public hearings remain essential in ensuring that laws reflect the views of government institutions, industry operators, professional bodies, civil society organisations and host communities.

He said the amendment was designed to strengthen the Commission’s financial capacity to fulfil its mandate of promoting sustainable development in the South-South.

According to him, despite serving as the nation’s economic backbone through petroleum production, maritime commerce and industrial activities, the region continues to grapple with inadequate infrastructure, environmental degradation and persistent socio-economic challenges.

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“We are particularly interested in receiving constructive contributions on the proposed funding framework, its sustainability, its implications for government and industry, as well as alternative proposals that can further strengthen the objectives of the legislation,” Pondi said.

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) expressed support for a transparent and sustainable funding framework for the Commission but raised concerns over the proposal requiring oil and gas companies operating in the South-South to contribute three per cent of their total annual budgets.

Presenting the Commission’s position, Chief Executive Officer, Mrs Oritsemeyiwa Eyesan, represented by the Head of Regulations and Statutory Compliance, Kingsley Chikwendu, argued that the phrase “total annual budget” remained undefined in the bill, creating uncertainty over how the levy would be assessed and implemented.

He warned that the proposal, if retained in its current form, could effectively introduce another expenditure-based levy payable regardless of profitability, production levels or the financial position of affected companies.

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Chikwendu noted that upstream operators already shoulder multiple statutory obligations, including royalties, petroleum taxes, contributions to the Niger Delta Development Commission (NDDC), Host Community Development Trust Funds under the Petroleum Industry Act (PIA), the Nigerian Content Development Fund, environmental remediation commitments and abandonment funds.

He urged lawmakers to carefully evaluate the likely impact of the proposed levy on investment decisions, production costs and the competitiveness of Nigeria’s upstream petroleum sector before reaching a final decision.

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) also advised the committee to ensure that any additional funding mechanism aligns with the fiscal philosophy and investment objectives of the Petroleum Industry Act, 2021.

Representing the Authority, Senior Manager Ahmed Laido said any new financial obligation should strengthen investor confidence, provide regulatory certainty, encourage long-term investment and support the Federal Government’s ease-of-doing-business reforms.

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He stressed that lawmakers should consider the wider economic implications of the proposal to ensure the Commission’s funding objectives do not undermine the competitiveness and sustainability of the petroleum industry.

The Oil Producers Trade Section (OPTS) of the Lagos Chamber of Commerce and Industry similarly cautioned against introducing another statutory levy on operators.

Chairman of OPTS, Bala Wudiri said oil and gas companies were already making  substantial statutory contributions under existing laws, including payments to the NDDC and the Host Community Development Trust Fund.

He cautioned that imposing an additional three per cent contribution could increase the financial burden on operators, duplicate existing obligations and reduce Nigeria’s attractiveness as an investment destination.

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Wudiri urged the committee to provide greater clarity on the proposed funding mechanism and adopt a balanced approach that would strengthen the South-South Development Commission without discouraging investment or creating overlapping statutory obligations.

The hearing highlighted broad support for improving development across the South-South, even as stakeholders differed on the most appropriate funding model.

Participants agreed that the Commission requires adequate resources to deliver critical infrastructure and development projects but urged lawmakers to ensure that any new funding framework preserves a stable, competitive and investment-friendly environment for Nigeria’s petroleum industry.

The committee is expected to review all memoranda and submissions before presenting its recommendations to the House of Representatives for further legislative consideration.

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