Senate Committee Vows Tough Oversight As SEDC Defends 2025 Budget Performance

The Senate Committee on the South East Development Commission (SEDC) has pledged to adopt a firm oversight approach, with its Chairman, Senator Orji Uzor Kalu, declaring that the region can no longer afford setbacks in its development efforts.

Speaking during the SEDC’s 2025 budget performance review and 2026 budget defence in Abuja yesterday, Kalu stressed that the commission must not be treated lightly.

“The region (South East) has suffered for too long. This Commission should not be taken for granted. It should not be taken as a place where people will cart away public money,” he said.

He added that the commission was established by President Bola Ahmed Tinubu to drive development in the region and must be handled with seriousness.

“This commission is a commission that President Bola Ahmed Tinubu gave us to develop our region; we cannot take it for granted,” Kalu stated.

The committee chairman further warned that oversight would be carried out without bias.

“We are going to be ruthless in our oversight; we are not going to look at friendship. The economic development of our people is paramount.

“They say you know how to do it, you should do it. President Tinubu is watching. This committee will not only do oversight, we will support you to deliver prosperity for our people,” he said.

In his presentation, the Managing Director of the SEDC, Mark Okoye, disclosed that out of the N140 billion approved for the commission’s take-off in 2025, only N5 billion had been released.

According to him, the N5 billion was released two months ago, in December, and N957 million has so far been spent on operations and stakeholder engagements.

Okoye also told the committee that no member of the management team has received a salary since the commission commenced operations.

“What we’ve done in the past year is to merge stakeholders’ expectations with President Bola Ahmed Tinubu’s Renewed Hope Agenda vision,” he said.

He explained that engagements with over 140 stakeholders provided critical feedback that is shaping the commission’s direction.

Okoye further revealed that approval had been granted to establish the South East Investment Company, projecting that within eight years the company would attain a balance of $1 billion and help build a $10 billion regional economy within 10 years.

He added that the commission has proposed a N140 billion budget for 2026, with 76 per cent earmarked for capital projects, while the remaining funds will cover overheads, personnel and other recurrent expenditures.

James Itodo, Edited By Grace Namiji