SEDC unveils plan to boost South-East economy to $200bn
The South East Development Commission has announced a bold strategy to grow the region’s economy from $40bn to $200bn over the next decade. Mark Okoye, Managing Director and CEO of the commission, shared details of the plan during a budget proposal presentation at the National Assembly. The blueprint focuses on industrialisation, agriculture, technology, infrastructure, and security. The commission aims to attract private sector investment and improve regional development through several targeted programmes.
TLDR
- Mark Okoye presented the commission’s 2026 budget proposal to the House of Representatives Committee on the South East Development Commission.
- The House approved N140bn for the 2026 fiscal year, with a focus on infrastructure, industrialisation, agriculture, and technology.
- The commission plans to mobilise private sector financing for large-scale projects through the South-East Investment Company Limited.
- Initiatives include a regional security programme, mechanised farming, special economic zones, and support for youth entrepreneurship and technology startups.
- The SEDC was formally inaugurated in February 2025 after Tinubu assented to its creation in 2024, aiming to address the region’s unique developmental challenges.
