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AICL expands youth enterprise drive, awards N9.75m to innovative startups across three sectors

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The Abuja Investment Company Limited (AICL) has reinforced its commitment to youth entrepreneurship and innovation by awarding a total of N9.75 million to nine outstanding startups at the 2026 Abuja Young Entrepreneurs’ Hunt, with winners emerging from the information and communications technology (ICT), creative and agribusiness sectors.

The competition, organised by AICL in partnership with the Abuja Enterprise Agency (AEA), rewarded three winners in each of the three sectors, with cash prizes of N1.5 million, N1 million and N750,000 respectively to support business expansion.

Speaking at the event in Abuja on Tuesday, the Group Managing Director and Chief Executive Officer of AICL, Maureen Tamuno, said the initiative goes beyond cash awards by providing participants with mentorship, business visibility and access to investors that can help transform their enterprises.

According to her, every participant in the competition benefits from intensive training and mentorship throughout the selection process, equipping them with practical skills that can accelerate business growth irrespective of whether they emerge as winners.

“The level of training and mentorship they receive from professionals during the programme goes far beyond the competition itself. It gives them ideas on visibility, expansion and sustainability,” Tamuno said.

She noted that AICL maintains relationships with past participants through mentors and partner institutions that monitor their progress and provide continued guidance to ensure their businesses grow.

“We have mechanisms in place to follow up with them. That is why previous winners return every year to share their success stories and inspire new participants,” she added.

Tamuno said this year’s winners would also be given opportunities to pitch their businesses before investors and business leaders during the upcoming Abuja Business and Investment Expo 3.0, enabling them to secure partnerships, funding and wider market access.

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She recalled that participants from previous editions attracted support from successful entrepreneurs, with some receiving investment, mentorship and employment opportunities after presenting their business ideas.

“We create the platform that allows investors and successful business people to connect with these young entrepreneurs even after the programme,” she said.

Tamuno called on private sector organisations, philanthropists and development partners to collaborate with AICL and the Abuja Enterprise Agency to expand support for youth-led businesses.

She stressed that while access to finance remains a major challenge, entrepreneurs also face structural constraints such as inadequate electricity and limited access to long-term financing.

According to her, recent investments in renewable energy are beginning to provide practical alternatives for small businesses.

“We now have renewable energy solutions that are helping businesses reduce dependence on the national grid. One of our markets operates entirely on green energy, and we encourage entrepreneurs to take advantage of these opportunities,” she said.

Tamuno urged Nigerians to believe in the country’s economic potential, arguing that sustainable national development requires collaboration between government, private investors and citizens.

“No country started instantly and everything started working. Countries grow and evolve. Nigeria is evolving, we are advancing.

“All we need to do is to believe in Nigeria, to believe in what we do. And as we evolve, we begin to create that awareness and support and, you know, apprenticeship opportunities for a lot of people that want to come into the space. What we do in Abuja Investment is create the space,” she added

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She also highlighted the Abuja Business and Investment Expo 3.0, scheduled for August 5 to 7, as a platform that connects businesses with investors through business-to-business and business-to-government engagements.

Acting Managing Director and Chief Executive Officer of the Abuja Enterprise Agency, Chudi Ugwuada-Ezirigwe, described young entrepreneurs as central to Nigeria’s future, noting that the competition was designed to nurture innovative businesses capable of creating jobs and solving societal challenges.

He explained that this year’s edition focused on ICT, the creative economy and agribusiness because of their high growth potential, while promising that future editions would accommodate additional sectors.

“The journey of a million miles begins with one step. We started with these sectors, but we intend to expand as more innovative business ideas emerge,” he said.

Ugwuada-Ezirigwe said the competition was widely publicised through digital platforms to ensure equal access for interested young entrepreneurs.

He encouraged participants who did not win to remain resilient, describing entrepreneurship as a journey built on innovation, determination and calculated risk-taking.

Chairman of the judging panel and economist, Paul Alaje, said the competition assessed both the viability of individual businesses and their broader economic impact.

According to him, judges evaluated innovation, sustainability, financial viability, scalability and the ability of businesses to create employment and substitute imported products.

He argued that supporting young entrepreneurs is critical to addressing poverty, unemployment and inflation.

“Our government will formulate policies, but citizens must apply those policies to create value. These businesses will generate employment, reduce imports, promote exports and contribute to economic growth,” Alaje said.

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He called on state governments across Nigeria to replicate the initiative, noting that empowering young people through entrepreneurship offers a sustainable response to unemployment and insecurity.

Among the standout innovations was Plastic Abdullahi Suleiman, winner of the creative category, whose business converts plastic waste and sand into durable interlocking paving stones without using cement.

Suleiman said the innovation was inspired by Nigeria’s growing plastic waste challenge and poor road infrastructure.

“We are turning plastic waste into stronger, more affordable interlocks. We believe this innovation can help solve both environmental pollution and road construction challenges,” he said.

Another winner, Ridwanllah Adeleke, Chief Executive Officer of Cyber Vigil and winner of the ICT category, said the recognition validated the company’s cybersecurity solutions designed to identify vulnerabilities in digital systems.

He urged government agencies to partner with indigenous cybersecurity firms to strengthen the protection of critical public infrastructure against data breaches.

Also speaking, Pamela Azeminor, first runner-up in the creative category, said the prize money would be invested in purchasing equipment for her fashion training academy.

She noted that access to finance remains one of the biggest obstacles facing young entrepreneurs, adding that the competition would enable her business to acquire machines capable of preparing fashion designers for global markets.

The Abuja Young Entrepreneurs’ Hunt forms part of AICL’s broader strategy to stimulate innovation, strengthen the startup ecosystem and position entrepreneurship as a catalyst for inclusive economic growth and job creation in the Federal Capital Territory.

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Troops kill ISWAP commanders, two Arab fighters in Borno

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The gallant troops of the Nigerian Army have killed Abu Hajara, a high-profile member of the Islamic State West Africa Province (ISWAP) Shura Council, and Abul Walid, a prominent commander and close associate of Ba Shuwa, the group’s overall Wali (leader).

In astatement issued on Sunday, the acting media information officer of Operation Hadin Kai, Mohammed Goni, said that two other high-ranking Arab fighters were also killed during the engagement in Kukawa LGA of Borno state on October 31.

Goni said the attack came three days after troops killed 55 terrorists, including three key commanders.

“Combined troops of Joint Task Force deployed in Kukawa defeated massive ISWAP terrorists attack on their locations and troops utilised both ground and air assets from the air component,” the statement reads.

“Following the engagement, troops recovered scores of arms, ammunition and communication devices.

“The successful engagement further demonstrates the combat readiness, vigilance and superior firepower of Operation HADIN KAI troops in sustaining pressure on terrorist elements across the theatre.

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“The attack on troops location at Kukawa comes barely 3 days after Buni Yadi attack where as at date 55 terrorists were neutralised including key commanders such as Ali Mandara Abba Gajiri (Munzir), Habu Ikkima Nakif Yana Faruk and Commander Gogore.”

Goni described the killing of the ISWAP fighters as a “significant blow to the leadership and operational capability” of the group.

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Jailed Osun monarch drags Adeleke to court over plan to replace him

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Dethroned Oba Joseph Oloyede, Apetumodu of Ipetumodu in Osun State, who is presently serving jail time in the United States of America for offences bordering on fraud, has dragged the Osun State Governor, Ademola Adeleke, before the court, asking it to stop him from filling the stool.

Oloyede, who is the second claimant in suit no. HIF/50/2026, in his motion on notice filed before an Osun State High Court sitting in Ile-Ife, alleged that Adeleke did not formally inform him of any infraction he committed before embarking on the process to replace him.

He is seeking an order of the court stopping the governor or any of his officials from filling the stool of Apetumodu until the substantive suit was determined.

Other claimants in the matter include Prince Oyewusi Adewusi, Prince Isaac Adewuni, and Prince Abiodun Oyetoro, for themselves and on behalf of other members of the Latimogun Royal Family of the Aribile Ruling House of Ipetumodu.

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Aside from Adeleke, other defendants in the matter are the Osun State Attorney-General and Commissioner for Justice, the Commissioner for Local Government and Chieftaincy Affairs, Chief Afolabi Adedeji, the Asalu of Ipetumodu and the head of the kingmakers, Chief Adesoye Babalola, the Malefon of Ipetumodu, and the Ife North Local Government.

The motion on notice filed by Oloyede, dated September 16, 2026, partly read, “An order of interlocutory injunction restraining the defendants/respondents either by themselves or through their servants, agents or privies from taking any step to fill the stool of the Apetu (Apetumodu) of Ipetumodu or appoint any person in place of the 2nd claimant who is the occupant of the Apetu’s stool, pending the hearing and final determination of this suit.

“That in The Guardian Newspaper of May 11, 2026 (online edition), it was alleged that the 2nd claimant/applicant has, by order/instrument purportedly signed by the 1st defendant on May 7, 2026, been deposed from office as the Apetumodu of Ipetumodu without any lawful basis.

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“That there was no time the 2nd claimant/applicant was informed by the 1st-3rd defendants of any wrongdoing before the issuance of the publication contained in the said Guardian Newspaper and the purported instrument or order of deposition.”

The hearing in the matter was, however, stalled on Monday, following non-service of hearing notices on the parties in the case.

During the day’s proceedings, only the claimants’ counsel, O. Ogbewe, and counsel for the 5th defendant, Soji Oyetayo, entered appearances.

Addressing the court, Ogbewe said he had served the defendants with the processes regarding the case.

But Oyetayo, counsel for the 5th respondent, Adesoye Babalola, said hearing notice had not been served on him by the claimants.

Oyetayo subsequently urged the court to adjourn the matter for the claimants to serve all the defendants’ hearing notices.

In his ruling, Justice Dapo Adeniji adjourned the case to January 21, 2027, and ordered that fresh hearing notices be issued and served on the defendants.

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It would be recalled that Adeleke approved the deposition of Oba Oloyede as the Apetumodu of Ipetumodu, following his conviction in the US on tax fraud and money laundering charges.

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Two Oyo commissioner, special adviser resign

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Two senior officials in the Oyo State Ministry of Budget and Economic Planning have resigned their appointments from Governor Seyi Makinde’s administration.

The officials are Ayobami Ojo, the Commissioner for Budget and Economic Planning, and Simeon Oyeleke, the ministry’s Special Adviser on Budget and Economic Planning.

In separate letters dated November 2, and addressed to Mr Makinde, both officials said their resignations would take effect immediately, while thanking the governor for the opportunity to serve but did not give specific reasons for their decisions.

In his letter, Ojo referred to his appointment letter dated 22 June 2026 and formally announced his resignation as commissioner.

“With reference to your letter dated 22nd June, 2026 (SP.S.662/2/VOL.IV/192), I respectfully write to formally resign my appointment as Honourable Commissioner for Budget and Economic Planning, with effect from today, 2nd November, 2026,” he wrote.

He described his time in government as an honour and said he appreciated the opportunity to serve the state.

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Oyeleke also tendered his resignation with effect from 2 November.

In his letter, he thanked Mr Makinde for the confidence reposed in him and the opportunity to contribute to the administration’s policies and development programmes.

He also expressed appreciation for the governor’s leadership, support and encouragement during his time in office.

“I remain grateful for the opportunity to have been part of this administration and to have contributed to its laudable achievements. I also remain committed to the peace, progress and development of Oyo State,” he wrote.

The latest resignations come amid a series of exits of political appointees and other officials from the Makinde administration in recent months.

It would be recalled that Segun Ogunwuyi resigned as the governor’s chief of staff on 12 October, a position he had held since July 2021. His resignation took immediate effect, although he did not state a reason for his departure.

A few hours after Ogunwuyi’s departure, Makinde appointed Bashorun Akinwole, popularly known as Wolekanle, as his replacement.

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On the same day, Tara Adefope, the Director-General of the Oyo State Due Process Office, also resigned from her position, while in late October, Kabiru Salami, the governor’s Executive Assistant on Security Coordination, also tendered his resignation.

Other officials who have left the administration include Funmi Arulogun, a Senior Special Assistant on Diaspora Matters, who resigned in August, citing personal and political considerations.

Babatunde Oduyoye, a member of the Oyo State Advisory Council, also resigned in July, while Fatai Owoseni, a former Commissioner of Police who served as the governor’s Special Adviser on Security resigned in May.

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