The Southeast Development Commission (SEDC) targets growing the economy of the region from the present $40 billion to $200 billion by 2035.
According to Mr. Mark Okoye, Managing Director of SEDC, who stated this in his inaugural speech made available to journalists in Awka on Wednesday.
Recall that the SEDC Board was inaugurated in Abuja on Tuesday.
Okoye said the takeoff of SEDC marked the commencement of rebuilding and reconstructing the Southeast geopolitical region, 54 years after the end of the civil war.
He noted that the task ahead was enormous, quoting the World Bank as saying that the Southeast required an annual investment of $10 billion for the next 30 years to bridge the infrastructure gap.
He highlighted several challenges facing the region, including a harsh investment climate due to security concerns, low ease of doing business, unemployment, and 2,500 active erosion sites, which have displaced thousands of people.
The MD stated that the Commission, with the support of President Bola Ahmed Tinubu, the governors of the five states, the private sector, and strategic partnerships, would lay the foundation for realizing the economic goals.
He added that the SEDC had studied past regional development blueprints, including the visionary economic plans of Dr. Michael Okpara, which laid the groundwork for 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 state governments, the 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 prioritize action over rhetoric and results over promises,” he said.
Okoye stated that the Commission would hold strategic engagements with state governments, the private sector, academia/research institutions, traditional rulers, religious leaders, and civil society as part of its takeoff.
He said that in furtherance of the realization of Mr. President’s Renewed Hope Agenda, the Commission would prioritize security, investment in infrastructure development, agriculture, industrialization, 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.
On his part, Chief Emeka Wogu, the Chairman of the SEDC Board, said the goal of the Commission is to contribute to the overall development of the region through the implementation of impactful, high-value projects.
“We hope to create jobs for thousands of our youths in alignment with the Renewed Hope mandate,” he said.
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