The South-East Development Commission (SEDC) has said it intends to grow the region’s economy from the present $40 billion to $200 billion by 2035.
The Managing Director of SEDC, Mr. Mark Okoye, said this in his inaugural speech made available to journalists in Awka Wednesday.
Okoye said that the inauguration of SEDC was the commencement of reconstruction of the South-East geopolitical region, 54 years after the end of the civil war.
He said that the task ahead was enormous, quoting the World Bank as saying that the South-East requires a yearly investment of $10 billion for the next 30 years to be able to bridge the infrastructure gap.
Okoye said that the region is facing numerous challenges at the moment, including a harsh investment climate due to security concerns, low ease of doing business, unemployment and 2,500 active erosion sites, resulting in the displacement of thousands of people.
The MD said that the Commission would rely on the support of President Bola Tinubu and governors of the five states, the private sector and strategic partnerships to lay the foundation for the realisation 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 the region’s industrial and agricultural potential.
He said: “Despite these obstacles, we remain a resilient and enterprising people; it is now up to us to shape the South-East 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 South-East 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.
“In furtherance of the President’s Renewed Hope Agenda, the Commission would prioritise 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.”
Okoye noted that in the coming months, the Commission will embark on several projects, programmes, and initiatives designed to accelerate the region’s development.
He appreciated Tinubu for the trust and confidence reposed in him and his colleagues, as well as the National Assembly for its role in passing the SEDC bill into law, and for their nominations and subsequent confirmation.
