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NCDMB, FI to Launch Portfolio Companies to Support Energy Startups

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Support Energy Startups

By Adedapo Adesanya

The Nigerian Content Development and Monitoring Board (NCDMB), in partnership with Founder Institute (FI), is set to launch 17 new portfolio companies that have passed through the board’s Technology Incubation and Innovation Centre (TIIC).

This move is part of its mandate to catalyze research and development and support energy startups.

The launch of the companies will hold on Thursday, August 24, 2023, at the Nigerian Content Tower, Oxbow Lake Road, Yenagoa, Bayelsa State. It will have in attendance international and local venture capitalists, investors, and product development subject matter experts who might be interested in investing or partnering with the new portfolio companies.

In a statement, the board said key highlights of the event will be the pitching by the founders of their business ideas, with the hope of eliciting the interest of investors.

“The launch of the new portfolio companies is a major milestone of the board’s R&D strategy anchored on the commercialization of research and innovation.

“The exposure given to the Founders is anchored on a well-tested NCDMB product development framework, which includes product validation, prototype development, field trial, business development, and product deployment.

“The mission of both NCDMB and FI is to empower Nigerian startups and entrepreneurs to innovate and scale up their minimum viable products,” the statement said.

Speaking on the initiative, the Executive Secretary NCDMB, Mr Simbi Wabote, explained that the board deploys an end-to-end strategy in its projects and does not relent until ideas that it supports are fully deployed, commercialised and begin to solve societal problems.

He noted that some of the solutions proposed by the founders will impact key sectors of the economy beyond the oil and gas sector.

“These are innovative solutions to everyday problems that we face in the country. Nigerian youths are innovative and creative. They are looking for a platform they can get, and NCDMB will be that platform,” he added.

Speaking ahead of the launch, the Director of Planning, Research and Development at NCDMB, Mr Abdulmalik Halilu, explained that Founder Institute was engaged by the agency in December 2022 as a partner in product development. The programme started with 54 incubates.

He further hinted that the collaboration leveraged the institute’s globally recognized accelerator programme that saw the 54 incubates transiting from idea to business development.

He noted that as part of the programme, the founders underwent mentoring, concept development, and patenting processes, and some of them are currently developing prototypes of their various innovations.

At the end of the seven months of intense tutelage, 17 of the incubates completed the business case development phase and are now positioned to establish startup companies and attract investors.

He stated that the incubation process will continue after the launch and will include validation, a startup process, and assuring that the Board will handhold the companies until their minimum viable products are introduced in the market and become successful.

The 17 incubates represent a spectrum of fields in the energy sector and data management, including renewable energy, geological and geophysical, local materials substitution, health, safety, & environmental, and engineering. Other areas are technology development, pipeline monitoring systems, and Artificial Intelligence (AI).

The structured accelerator and the NCDMB incubation programmes have guided incubates to master the art of pitching, understanding market dynamics and customer insights, practical, and mentorship. The accelerator programme also equipped participants to navigate the entrepreneurial landscape effectively.

The impending showcase of the 17 incubates bears immense significance for Nigeria’s economic trajectory.

“By nurturing these talents, NCDMB is not only fostering job creation but also cultivating a pool of capable individuals poised to drive growth across various industries. The programme also ignites an entrepreneurial and innovative culture, with the potential to propel technological innovation and effect positive social change.”

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Umahi: Ebonyi Police Reject Bid to Halt Autopsy in Physiotherapist’s Death

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mary habila physiotherapist

By Adedapo Adesanya

The Ebonyi State Police Command has insisted on conducting a post-mortem examination to determine the cause of death of Miss Mary Habila, a physiotherapist who died at the residence of the Minister of Works, Mr David Umahi, in Uburu, Ohaozara Local Government Area of Ebonyi State.

The demise of the deceased, which occurred in late June, recently became public and has sparked calls for a probe from many quarters.

Meanwhile, the family of the deceased has approached the court to stop the autopsy, but experts tell Business Post that the family has no authority to file an affidavit, as this is a case of suspected murder against the state and not the family.

Mr Umahi has also called for a probe.

The Ebonyi Police Command said the autopsy was necessary to establish the cause of death and support its ongoing investigation, despite objections from the deceased’s family.

The Police Public Relations Officer (PPRO), SP Joshua Ukandu, disclosed this in a statement issued on Wednesday, stating that the police had commenced a comprehensive investigation into the circumstances surrounding Ms Habila’s death.

Mr Ukandu said preliminary investigations revealed that the deceased and a colleague were members of the medical team attached to the Minister of Works and had accompanied him to his hometown in Uburu, where she later died in a room within the compound of his residence.

According to him, detectives from the State Criminal Investigation Department (SCID) have visited the scene, documented relevant evidence and obtained statements from persons connected to the incident.

He added that the command had concluded arrangements to engage a qualified pathologist to carry out a post-mortem examination, which it considers crucial to determining the actual cause of death.

Mr Ukandu explained that the police became involved in the matter after receiving a distress call on June 27, 2026, from the Divisional Police Officer (DPO), Ohaozara Division, informing the command of a medical emergency involving Habila and requesting his presence at the David Umahi Federal Teaching Hospital, Uburu.

“On arrival, the DPO was informed by hospital authorities that Miss Mary Habila had been brought in dead.

He immediately briefed the Commissioner of Police, who directed that the matter be transferred to the State Criminal Investigation Department (SCID) for thorough investigation,” the statement read.

The police spokesperson disclosed that while the family of the deceased had opposed the conduct of an autopsy, the command considered the procedure necessary in view of the circumstances surrounding the death.

“The Command therefore awaits the attendance of the family or their duly appointed representative, as their presence is essential to the conduct of the post-mortem examination,” Mr Ukandu said, assuring the public that the investigation would be conducted professionally, transparently and without bias, stressing that every necessary step would be taken to uncover the circumstances surrounding Habila’s death.

Mr Ukandu further assured that the command would continue to provide updates as the investigation progresses.

Family Seeks to Stop Autopsy

The family of the deceased, who is a staff member of the David Umahi Federal University of Medical Sciences and was seconded to the Federal Ministry of Works, formally requested the withdrawal of further investigation into her death and declined an autopsy.

In an affidavit titled Affidavit of Withdrawal of Case filed before the High Court of Justice of Ebonyi State, her father, Tanko Habila Wisdom, said the family was not alleging any foul play in her death and wished to proceed with her burial.

According to the affidavit, Mary Habila died on June 27, 2026, in Uburu, Ohaozara Local Government Area of Ebonyi State.

The deponent stated that before her death, Habila was a staff member of the David Umahi Federal University of Medical Sciences and had been seconded to the Federal Ministry of Works in Mabushi, Abuja, where she served in the Office of the Minister of Works for about three years.

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Aisha Achimugu: Court Orders Forfeiture of N4.6bn Jewellery, N4.3bn Vehicles, Cash

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Aisha Achimugu

By Adedapo Adesanya

A Federal High Court in Apo, Abuja, has ordered the final forfeiture of billions of Naira worth of assets linked to businesswoman and socialite, Ms Aisha Achimugu, to the federal government.

Justice Jude Onwugbuzie granted the order following an application by the Economic and Financial Crimes Commission (EFCC), directing the permanent forfeiture of jewellery valued at N4.645 billion, 11 exotic vehicles worth N4.293 billion, $50,000 and N30 million in cash.

The ruling followed the EFCC’s request for the final forfeiture of the assets, which the commission said were linked to Ms Achimugu.

The forfeited assets include: Jewellery valued at N4,645,170,294.90; 11 exotic vehicles worth N4,293,000,000; $50,000 in cash; and N30,000,000 in cash.

The court’s judgment vests ownership of the assets in the federal government, bringing the forfeiture proceedings to a close.

In March, Justice Emeka Nwite of the Federal High Court in Abuja affirmed the final forfeiture of $13 million linked to the Lagos socialite. However, in an interview in April, she denied that $13 million was discovered by the EFCC in her residence, describing the claim as inaccurate and misleading.

Justice Nwite had, on August 22, 2025, granted the anti-graft agency’s motion ex parte for an interim order forfeiting the sum of $13 million linked to Oceangate Ltd to the federal government over allegations that the fund was proceeds of unlawful activity.

The judge had then directed the commission to publish the order in a national daily for interested people to show cause within 14 days why the fund should not be permanently forfeited to the federal government.

In 2024, the businesswoman gained significant media attention for a seven-day birthday celebration in Grenada, which was attended by high-profile guests, reportedly including Lagos State Governor Babajide Sanwo-Olu.

The socialite also defended her widely publicised birthday celebration, noting that it had been “planned for 10 years” and was not funded with any money under investigation.

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Renaissance, Indorama Seal 16-Year Gas Deal to Boost Fertiliser Production

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Indorama fertilizers

By Adedapo Adesanya

To boost fertiliser production, strengthen food security and advance Nigeria’s domestic gas utilisation agenda, Renaissance Africa Energy Company Limited has signed a 16-year Gas Sale Agreement (GSA) with Indorama Fertiliser FZE for the supply of up to 60 million standard cubic feet of natural gas per day from the Assa North Ohaji South (ANOH) Gas Processing Facility.

The agreement was signed by the chief executive of Renaissance, Mr Tony Attah, and Indorama’s counterpart, Mr Manish Mundra, with both executives describing the deal as a significant milestone in advancing Nigeria’s domestic gas utilisation agenda, industrial development, and agricultural growth aspirations.

“This agreement reflects our commitment to unlocking the value of Nigeria’s abundant gas resources through partnerships that create real and lasting impact,” Mr Attah said, adding: “By supplying natural gas to a major fertiliser producer such as Indorama, we are supporting a value chain that is critical to food security, agricultural productivity, industrial growth, and economic development.”

The agreement will provide Indorama Fertiliser with a secure and reliable source of natural gas to support uninterrupted production and enable the company to meet growing domestic and regional demand for fertiliser products.

The resulting increase in fertiliser availability is expected to contribute to improved crop yields, enhanced agricultural productivity, and strengthened food security across Nigeria and Africa.

Commenting on the agreement, Mr Mundra said the deal was an important milestone for the company in its ambition of supporting Nigeria’s agricultural transformation agenda.

“Reliable access to natural gas is fundamental to fertiliser production, and this long-term arrangement provides a strong foundation for sustainable operations and future growth,” Mr Mundra said. “We appreciate the partnership with Renaissance and look forward to leveraging this collaboration.”

The transaction aligns closely with Nigeria’s Decade of Gas initiative and further demonstrates the strategic role of natural gas in driving industrialisation, supporting manufacturing, enhancing energy security, and enabling economic diversification.

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