The South East Development Commission (SEDC) has disclosed that less than 10 per cent of its N140 billion 2026 budget allocation has been released, raising concerns over the pace of development projects across the South-East region.
The commission made the disclosure on Tuesday during an oversight session with the Senate Committee on the South East Development Commission at the National Assembly, Abuja.
The session, chaired by Senator Orji Uzor Kalu, formed part of the National Assembly’s oversight responsibilities and provided lawmakers with an opportunity to review the commission’s activities since the inauguration of its board in February 2025.
According to a statement issued by the commission, SEDC presented details of its budget performance, procurement processes, organisational structure, staffing, contracts awarded, institutional partnerships and programme implementation across the region.
The commission stated that despite funding limitations, it had continued to advance preparatory work on strategic projects aimed at accelerating economic growth and infrastructure development in the South-East.
Among the initiatives highlighted were planned gas pipeline and railway projects, as well as partnerships with key institutions including the United Nations Development Programme, Afreximbank, the Rural Electrification Agency, the Bank of Industry, the Presidential Initiative on Compressed Natural Gas and the Gas Aggregator Company of Nigeria.
SEDC also informed lawmakers of its engagements with state governments, federal agencies, development partners and private sector stakeholders to promote coordinated regional development.
The commission further cited the South East Vision 2050 stakeholder consultations as a major milestone, noting that the initiative brought together government officials, business leaders, academics, development partners and civil society groups to formulate a long-term development blueprint for the region.
It also highlighted the implementation of the South East Venture Capital Programme, under which 25 startups from the five South-East states received equity investments through a competitive selection process aimed at promoting entrepreneurship and innovation.
During the session, the Senate committee requested additional documentation on specific aspects of the commission’s operations and programme implementation.
SEDC said it welcomed the request and would provide the required documents on or before June 23, 2026, after which the oversight engagement is expected to continue.
The commission, however, stressed that the timely release of appropriated funds remains critical to the execution of key infrastructure, agricultural transformation, economic development, youth empowerment and regional security programmes.
It noted that while the Federal Government and the National Assembly had demonstrated commitment to the development of the South-East through the establishment and funding of the commission, project delivery would depend largely on the prompt release of budgeted funds.
Reaffirming its commitment to accountability and transparency, the commission pledged continued cooperation with the National Assembly and other oversight institutions to ensure effective delivery of its mandate.
SEDC was established to drive reconstruction, economic development and regional transformation across Abia State, Anambra State, Ebonyi State, Enugu State and Imo State.
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