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By Madu Obi
The Southeast Development Commission SEDC) recently signed into law by President Bola Tinubu has vowed to grow the economy of the region from the present $40 billion to $200 billion by 2035.
Managing Director of SEDC, Mr. Mark Okoye, in a statement in Awka, said the commission's immediate concern will be the rebuilding and reconstruction of the Southeast geopolitical region 54 years after the end of the civil war.
Describing the task ahead as enormous, Okoye quoted the World Bank record which showed that Southeast required an annual investment of $10 billion for the next 30 years to be able to bridge the infrastructure gap.
According to him, the region faces numerous challenges at the moment, including harsh investment climate due to security concerns, low ease-of-doing business, unemployment and 2,500 active erosion sites resulting in displacement of thousands of people.
Okoye said the Commission would rely on the support of President Bola Tinubu and governors of the five states, the private sector and strategic partnerships that will lay the foundation for the realization of the economic goals.
He said the SEDC had studied past regional development blueprints, including the visionary economic plans of Dr. Michael Okpara, which laid the groundwork for our industrial and agricultural potential
“Despite these obstacles, we remain a resilient and enterprising people. It is now up to us to shape the Southeast we envision within the framework of the Federal Republic of Nigeria.
Working with the state governments, private sector ecosystem, and development partners, we will drive the Southeast towards a $200 billion regional economy by 2035,
We will not pay lip service to development, SEDC will prioritise action over rhetoric and results over promises,” he said.
Okoye said the Commission would also hold strategic engagement with state governments, the private sector, academia/research institutions, traditional rulers, religious leaders and the civil society as part of its takeoff .
He said in furtherance to the realization of Mr President's Renewed Hope Agenda, the Commission would prioritize security and investment infrastructure development, agriculture, industrialisation, technology/innovation and human capital development
“Our tenure will be built on transparency, accountability, and public participation, every project will align with a clear roadmap and deliver measurable impact.
In the coming months, we will embark on several projects, programs, and initiatives designed to accelerate the development of our region,” he said.
Okoye appreciated President Tinubu for the trust and confidence reposed in him and his colleagues as well as the National Assembly for their role in passing the SEDC bill into law, nominations and subsequent confirmation.
“When Mr. President presented the Renewed Hope Agenda and was sworn into office in 2023, he made a commitment to showcase visionary leadership, one rooted in inclusivity, progressive governance, and strong institutions.
“He promised a new style of public service that fosters a society built on shared prosperity, tolerance, compassion, and an unwavering commitment to treating each citizen with equal respect and due regard,” he said.
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