Some budding entrepreneurs from the Ken Saro-Wiwa Innovation Hub on Wednesday 18th were given the privilege to present their business ideas and projects to investors and potential clients.
The KSIH Pitch Day was organized with sponsorship from Stakeholder Democracy Network to allow these early-stage companies to attract funding, partnerships and clientele for their projects.
Top business executives, representatives of several banks, members of the civil society and the media listened with rapt attention as each company used slides of pictures and a few paragraphs to outline what they are doing, the traction they are seeing and team Bios. The event held at Elkan Terrace Hotel in GRA, Port Harcourt.
The young companies that made presentations include Entric, Nira Stock, TinX and Alpha Next
Speaking at the event, chief executive officer of Bobmanuel Tractor Limited and president of Rivers Entrepreneurs and Investors Forum, said he feels very much at home as he naturally connected with the young businessmen. Recounting his odyssey into the entrepreneurial world, he said: I have always been a passionate entrepreneur right from when I was in school.”
“Getting into school, the first thing I told my self was that I wanted to make money and at the same time make good grades. So I worked round the clock to find a niche for myself”, he said.
“As at when I left school I was very successful that I had a haulage company that was running. I had three trailers. I had two cars of mine. I lived very comfortably.”
“My last entrepreneurial effort is Bobtrac, the first indigenous tractor manufacturing company. Bobtrac is a company we project to invest as much as $50 million and we have done 50% of that”
“We manufacture wholly Nigerian tractors and we have a sales projection of a thousand tractors in a year, which will not be too hard.”
He said if we could come from our very humble beginning with a focus that this is where we intend to be- if we can make it. The younger ones are even smarter than we are, you guys have what it takes to even do better.”
Also, a former member of the Rivers state House of Assembly, Dr Victoria Nyeche said she was impressed seeing people standing confidently as CEOs and demonstrating ideas that would help change the narrative about Nigeria.
“This is what happens in developed countries where young people become CEOs of thriving companies “, she said.
Dr Nyeche charged the new CEOs to take the criticism on their works as tools to further sharpen their ideas. “When you start a business, don’t get challenged no matter the challenges. Behind every success story, some stories are not so successful”, she added.
All the companies that participated in the Demo are products of Ken Saro-Wiwa Innovative Hub(KSIH). KSIH is sponsored by Stakeholder Democracy Network, the hub serves as a centre where developers, designers, entrepreneurs and trainees come together to learn, practice, network and build innovative solutions to inherent challenges in the region. The Hub provides the following Activities: Tech Training’s and Meetups, Incubation Programme, Co-working Space and Community for aspiring techies.
The hub runs a 6-month ‘incubation’ programme known as the Ken Jr Award for Innovation. The programme is designed for aspiring tech entrepreneurs, providing training, mentorship support, and soft skills to teams of people who have a business idea and minimum viable product that they want to take to market. The incubation programme aims to help mid-stage startups to build on their idea/ prototype/ venture through technology mentoring, validation, intellectual property support, marketing strategy, team building, fundraising advisory etc.
Gov. Diri Presents N310 billion 2022 budget of sustainable growth
… happy with implementation of 2021 budget
His Excellency, Senator Douye Diri, Governor of Bayelsa State has presented the 2022 budget estimates of N310, 717,608,353.00 Billion Naira to the State House of Assembly for consideration.
The 2022 budget is tagged,” Budget of Sustainable Growth.”
The State Ministry of Works and Infrastructure was allocated the highest figure of N51 billion naira for capital project followed by Ministry of Agriculture and Natural Resources which had N12 billion naira. N4billion is the proposed figure for Education.
Because of drop in allocation, the revenue projection is slightly lower than the 2021 Budget by N19 billion indicating a reduction of about 3.54%.
The Governor who was accompanied to the presentation by the Deputy Governor, Senator Lawrence Ewhrudjakpo, also said the 2021 budget had a great performance and that many projects and achievements were recorded in various sectors including education, roads, and agriculture.
“The projects include:
• Construction of Unity Bridge in Nembe
• Construction of Elebele Bridge in Ogbia
• Dualization and Re-designing of the Tombia Round-about
• Construction of the Sagbama/Ekeremor Road.
• Construction of Yenagoa – Oporoma Road.
• Construction of AIT – Igbogene Outer Ring Road.
• Construction of Igbedi Road
• Construction of Glory Drive – just to mention a few
“Mr. Speaker, our Prosperity Government is also formulating a 30-year long-term development plan for the State, may I now proceed with a summary of the 2022 Appropriation Bill tagged “BUDGET OF SUSTAINABLE GROWTH”.
“In concluding, Mr. Speaker, I will not stop thanking God for His infinite mercies and the good people of Bayelsa State for their continuous support, patience, sacrifices and the goodwill they have extended to our Government. We are determined to continue to build confidence in our people by being proactive in the formulation and implementation of our policies.”
EFCC Arraigns Managing Director for N6bn Deceased PHCN Insurance Benefit Fraud
The EFCC, on Thursday, 21 October, 2021 arraigned the Managing Director of PJO Ventures Limited, Cecilia Osipitan and her company, PJO VENTURES LIMITED, and INSURANCE RESOURCERY and CONSULTANCY SERVICES LIMITED before justice U.P Kekemeke of the Federal Capital Territory High Court, Maitama, Abuja on a nine count charge bordering criminal breach of trust, conspiracy and conversion of public funds to the tune of N6, 000,000,000.00(Six billion Naira).
The money was meant for the payment of outstanding insurance premiums and claims of deceased and incapacitated staff of the defunct Power Holding Company of Nigeria, (PHCN). The offence contravenes Section 311 of the Panel Code Act Cap 532 Laws of the Federation of Nigeria, (Abuja) 2004 and punishable under Section 312 of the same Act.
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