The South-East Development Commission (SEDC) has received commitments of support and cooperation from governors, businessmen and other stakeholders in the South-East region.
This was part of the outcome of the grand reception organised for the commission’s leadership by businessman Arthur Eze in Enugu on Saturday.
Reps Deputy Speaker Benjamin Kalu said the SEDC would be the engine room for renewal and the architect of a modern South-East.
Mr Kalu, represented by George Ozodinaobi, the deputy minority whip, said the SEDC bill was not a mere legislative exercise but a mission to address long-standing infrastructure deficits, economic stagnation, and the wounds of history that had yet to fully heal.
He warned against the politicisation of the commission but called on it to thrive on a partnership among governments, the private sector, the diaspora community and all relevant institutions
According to him, the SEDC Act is more than ink on paper; it is a covenant of progress, a bridge between our storied past and the prosperous future we dare to build.
Governor Peter Mbah of Enugu State emphasised that SEDC was an idea whose time had come and had been in the pipeline for over 75 years.
He added that the N200 billion target set by the management of SEDC was small, suggesting the push up to N1 trillion given the large population of Igbos.
The governor also urged them to invest more in critical infrastructure and build a common market within the zone.
In his speech, Mark Okoye, the managing director/CEO of SEDC, said the commission would work closely with the state governors to realise the target of moving the region from the current $40 billion to a $200 billion economy.
Mr Okoye said the SEDC would invest heavily in critical sectors that would catalyse economic transformation, adding that all its projects, programmes, and interventions would be aimed at de-risking these key sectors and encouraging private sector investment in sustainability.
“There are very interesting projects currently executed by the state governors; we are here to support and amplify such projects.
“A major obstacle to development is lack of infrastructure; when investors come in, 65 per cent of their funds go to creating the necessary infrastructure, and this limits their global comprehensiveness,” he said.
Also speaking, Emeka Wogu, chairman of the SEDC board, appreciated President Bola Tinubu for establishing the commission and his proactive leadership while assuring that the board would not fail in their mandate.
Mr Wogu said the board had just finished a tour of the region, where they met the various state governors and presented their strategic roadmap.
Mr Eze said a commission like the SEDC was expected to have been set up to drive the reconstruction, reconciliation, and rehabilitation policy of General Yakubu Gowon when the war ended in 1970.
He urged SEDC to revamp the industrial infrastructure which supported the old eastern region, noting that the Southeast was a land of innovation, resilience, and enterprise.
Mr Eze promised to support the SEDC in power and energy, manufacturing, agriculture, and industrial development and urged other stakeholders to support it to achieve their strategic roadmap.
Some of the guests at the event were the five governors of Anambra, Ebonyi, Enugu, Imo and Abia, who was represented by his chief of staff, Caleb Ajagba and Senator Victor Umeh.
(NAN)
