By Michael Agbaji
The Managing Director of the South-East Development Commission (SEDC), Mr. Mark Okoye, has reaffirmed the Commission’s commitment to transforming the South-East into a $200 billion economy within the next decade, while formally presenting a proposed N140 billion 2026 budget to the Senate to commence full implementation of its regional development blueprint.
Mr. Okoye made this known during the Commission’s budget defence before the Senate Committee on South-East Development Commission, chaired by Senator Orji Uzor Kalu.
He described the session as “a rich and constructive engagement,” emphasizing that the Commission’s inaugural year was dedicated to building strong institutional and strategic foundations for sustainable regional growth.
The Managing Director expressed appreciation to President Bola Ahmed Tinubu for establishing the Commission in 2024, noting that its creation fulfilled over five decades of sustained advocacy by stakeholders across the South-East. He also commended the National Assembly for its leadership in enacting the enabling legislation Laying the Groundwork for Regional Growth.
According to Mr. Okoye, the Commission’s 2025 activities focused on strategic planning, institutional structuring, and stakeholder engagement. Key milestones included the development of a comprehensive regional roadmap, consultations with over 100 federal government agencies, and engagement with academia, civil society organisations, diaspora groups, development finance institutions, and private sector leaders.
A major highlight was the Southeast Vision 2050 Forum, which convened the five South-East governors, the Vice President, and a broad spectrum of stakeholders to align on a long-term development strategy for the region.
“These engagements ensured that we built the right execution platform before deploying large-scale capital projects,” Mr. Okoye stated.
Capital-Focused 2026 Budget
The proposed N140 billion 2026 budget allocates approximately 73–74 percent to capital expenditure, underscoring the Commission’s infrastructure-driven mandate, while the balance will cover personnel and overhead costs.
Mr. Okoye disclosed that the Commission has developed a 100–120 day action plan to fast-track implementation. Immediate priorities include:
Activation of regional operational structures
Launch of a Southeast Venture Capital Programme
Operationalisation of the Southeast Investment Company
Commencement of agriculture development initiatives
Rollout of grassroots sports infrastructure programmes
He clarified that SEDC’s mandate centers on region-wide strategic infrastructure in line with presidential directives, including reference health facilities, rail connectivity, gas pipelines, and coordinated energy and security architecture.
Commitment to Accountability
Members of the Senate Committee emphasized transparency, accountability, and legacy-driven projects. Senator Tony Nwoye urged prioritization of schools and hospitals, while Senator Patrick Ndubueze called for focus on transformative projects
