BY OUR CORRESPONDENT, ENUGU
In a move to stabilise and revitalise Nigeria’s industrial heartland, the Federal Government has unveiled a sweeping 25-year development blueprint for the South East, anchored by a new investment company designed to court international capital and the global diaspora.
At the South East Vision 2050 Stakeholders’ Forum in Enugu yesterday, Vice President Kashim Shettima announced that President Bola Ahmed Tinubu has formally approved the establishment of South East Investment Company Limited.
The firm will act as a primary vehicle to mobilise resources from capital markets and development finance institutions, marking a shift away from “short-term governance cycles” toward a multi-decade economic framework.
The Minister of Regional Development, Engr. Abubakar Momoh, used the summit to issue a directive for the newly formed South East Development Commission (SEDC) to work in lockstep with the veteran Niger Delta Development Commission (NDDC).
This cross-regional alliance aims to bridge the South East and South South states through massive infrastructure projects, specifically targeting the rail sector and agricultural value chains.
”This is an institutional commitment to the coordinated, targeted transformation of the region,” Mr. Momoh told an audience of governors and stakeholders.
The presence of top NDDC brass, including Chairman Chiedu Ebie and Managing Director Dr. Samuel Ogbuku, signaled a departure from the siloed regional planning that has historically hindered West Africa’s largest economy.
Governor Peter Mbah of Enugu State, speaking on behalf of the region’s leadership, described the initiative as the “awakening of an economic giant.” Mbah proposed the creation of a South East Common Market, urging a paradigm shift in how regional projects are executed.
”This vision is an opportunity for the South East to tap into the national agenda,” Governor Mbah stated, calling for a unified front to improve security and ensure “inclusive development” for the region’s famously entrepreneurial population.
The SEDC, led by Chairman Sir Emeka Wogu and Managing Director Mark Okoye, is positioned as the “special-purpose vehicle” to drive this transformation.
Mr. Okoye confirmed that the commission will aggressively seek partnerships with the private sector and Nigeria’s vast overseas diaspora to fund priorities in:
Power generation and distribution
Regional rail and road connectivity
Peacebuilding and security infrastructure
The President of Ohanaeze Ndigbo Worldwide, Sen. Azuta Mbata, offered a formal endorsement on behalf of the region’s socio-cultural leadership, pledging support for the “Renewed Hope” agenda.
As the forum closed, the consensus was clear: the South East is no longer waiting for the future, but—with the backing of federal might and international finance—is attempting to design it.
