South-East Economy Projected To Hit $200bn Under SEDC Blueprint

The South East Development Commission, SEDC, says it plans to grow the South-East’s economy from about $40 billion to $200 billion over the next decade under a long-term regional development strategy.

Managing Director and Chief Executive Officer Mark Okoye disclosed the target while presenting the commission’s 2026 budget proposal before the House of Representatives Committee on the South East Development Commission at the National Assembly.

Okoye said the strategy would focus on industrialisation, agriculture, technology and the creative economy, alongside investments in critical infrastructure to position the region as a leading investment destination in Africa.

He said collaboration with state governments, the National Assembly, the private sector and the diaspora community would be essential to achieving the target.

“One of the region’s most pressing challenges, he noted, is environmental degradation.”

The South-East has more than 2,700 erosion sites, with the cost of rehabilitating a single site estimated at between 10 billion and 20 billion naira , requiring innovative and sustainable funding solutions.

As part of its financing plan, the commission intends to capitalise the South-East Investment Company Limited, an investment subsidiary aimed at mobilising private sector funding for large-scale infrastructure projects, including railways, power, ports and gas pipelines.

Okoye said the subsidiary would conduct feasibility studies and structure bankable projects to attract investors and development partners. A Project Preparation Facility is also planned to fund feasibility studies, environmental assessments and engineering designs for major projects.
In agriculture, the commission plans to promote mechanised farming through land clearing and the establishment of demonstration farms spanning 200 to 300 hectares in rural communities.

It also aims to develop agro-industrial hubs and aggregation centres for smallholder farmers.

Other initiatives include a South-East Industrialisation Programme to develop special economic zones, a Youth Entrepreneurship and Innovation Programme to support technology startups, and investment in grassroots sports infrastructure.

The commission also outlined a South-East Security Intervention Programme designed to coordinate regional security efforts across the five states to create a stable investment climate.

Following the presentation, Committee Chairman Chris Nkwonta commended the commission’s performance since its inauguration in February 2025.

The committee adopted the proposed 250 billion naira budget and urged the commission to sustain development efforts across the region.

Oduyemi Odumade, Edited By Grace Namiji