1 week ago
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From Kenneth Udeh, Abuja
The Managing Director of the South East Development Commission (SEDC), Mark Okoye, has set a target of $200 billion for the South East economy in 2035.
Speaking at the Commission’s inauguration ceremony in Abuja, Okoye said the target would be made possible through a determined and transparent partnership with the state governments, private sector and development partners.
He noted that by achieving such a target, the South-East region would be contributing its quota to President Tinubu’s N1 trillion Gross Domestic Product’s target.
Quoting the World Bank’s statistics, which states that Nigeria needs to invest between $100 and $150 billion annually over the next 30 years to bridge its infrastructure deficit, Okoye unveiled strategies on how the South-East would achieve its own contribution of $10 billion.
He disclosed that the commission would remain focused on overseeing the reconstruction and rehabilitation of critical infrastructure damaged by the Nigeria Civil War, and to tackle the broader developmental challenges facing the region.
To further achieve its objectives, he emphasised that the commission under his leadership would build on the development blueprint plans of the former Premier of Eastern Nigeria, Micheal Okpara.
He also revealed plans to promptly tackle prevailing problems bedevilling the region, which include the over 2,500 active erosion sites displacing thousands of people; persistent unemployment and unfavourable investment climate; security concerns that affect business confidence and to facilitate an ease-of-doing-business, which the MD said requires significant improvement.
Okoye appreciated President Tinubu for the trust and confidence reposed on him and his team, and assured that he would not fail.
He said: “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 noted that with the assent to the SEDC Act, and the constitution of its leadership, President Tinubu has reaffirmed his commitment to national unity and regional development.
He said: “The weight of expectations on this Commission is enormous given the 54 year wait. Since our nomination, I have been deeply moved by the outpour of support, ideas and insights from across the region and beyond.
“Yet, despite these obstacles, we remain a resilient and enterprising people.
“Today, with a combined GDP of approximately $40 billion and a population of 21.9 million, this goal may seem ambitious. However, with support from Mr. President through the SEDC, collaboration with the governors in the region and private sector investments and strategic partnerships, it is possible.
As part of its take-off strategy, he said the commission would earnestly engage with the state governments to align its interventions with their development priorities and identify synergies with the Renewed Hope Agenda.
Identifying the private sector as a critical partner, he said the management would secure their buy-in and extract firm investment and job creation commitments based on the Commission’s expected interventions.
“Academia and Research Institutions would ensure evidence based policy decisions and a strong skills development programme for new entrants into the job market.
“Traditional Rulers & Religious Leaders would foster grassroots engagement and social cohesion; civil society organisations would promote accountability, inclusivity and people-driven solutions; we will also learn from history,” he said.
Harping on honesty, transparency and accountability, he pledged that he and his team would not pay lip service to the development of the South-East.
“In the coming months, we will embark on several projects, programmes and initiatives designed to accelerate the development of our region. Our website, which will be launched soon, will be an interactive platform for your feedback and engagement,” he said.
Appeals were also made to friends and well-wishers to tone down the celebrations, receptions and congratulatory messages in order not to distract the commission from remaining steadfast and focused in its mission.
He said: “The expectations are enormous, and we must hit the ground running. Therefore, I respectfully ask that we tone down on social receptions, parties or newspaper adverts organised in our honour.
“While I appreciate the thought, I ask that you channel your support into ideas, best wishes and prayers for the wisdom and stamina to execute this task successfully.
“These are exciting times. The future of our region is in our hands and we have been given a unique opportunity to transform the South East into an economic powerhouse.
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