SEDC Unveils Plan to Grow South-East Economy to $200bn in 10 Years

By Christiana Ekpa

The South East Development Commission (SEDC) has unveiled an ambitious plan to expand the South-East economy from about $40 billion to $200 billion within the next decade as part of a long-term regional development strategy.

Managing Director and Chief Executive Officer of the commission, Mark Okoye, disclosed this on Thursday 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 commission’s development blueprint is designed to drive economic growth through industrialisation, agriculture, technology and the creative economy, while developing critical infrastructure to position the region as a major investment destination in Africa.

He explained that achieving the target would require strong collaboration with state governments, the National Assembly, the private sector and the diaspora community.
The SEDC boss identified environmental degradation, particularly erosion, as one of the region’s major challenges, revealing that the South-East currently has over 2,700 erosion sites.

According to him, addressing the problem is capital-intensive, noting that fixing a single erosion site could cost between N10 billion and N20 billion, making innovative and sustainable solutions necessary.

As part of its strategy, Okoye said the commission plans to capitalise the South-East Investment Company Limited, an investment subsidiary expected to mobilise private sector financing for major infrastructure projects including railways, power, ports and gas pipelines.

He said the company would help attract investors by conducting feasibility studies and developing bankable projects capable of securing funding from development partners and global investors.

Okoye also highlighted the South-East Security Intervention Programme, aimed at supporting the development of a coordinated regional security architecture across the five states of the region to create a stable investment climate.

He further revealed plans to establish a Project Preparation Facility to fund feasibility studies, environmental assessments and engineering designs for large infrastructure projects.

In the agricultural sector, the commission plans to promote mechanised farming by clearing land and establishing demonstration farms of 200 to 300 hectares across rural communities.

The initiative, he said, would support the development of agro-industrial hubs and aggregation centres where smallholder farmers can sell their produce.

Other programmes captured in the proposed budget include the South-East Industrialisation Programme, aimed at developing special economic zones to attract manufacturing investments, and a Youth Entrepreneurship and Innovation Programme to support technology startups and young entrepreneurs.

Okoye added that the commission also plans to invest in grassroots sports infrastructure to nurture young talents and promote national unity through sports development.

He stressed that the success of the commission’s programmes would depend on sustained support from the National Assembly and effective collaboration among stakeholders across the region.

In his remarks, Chairman of the House Committee on the Commission, Rep. Chris Nkwonta, commended the Managing Director for the detailed presentation and acknowledged the milestones recorded by the commission since its inauguration in February 2025.

Nkwonta said the committee was satisfied with the commission’s performance within its short period of operation and expressed optimism that the programmes outlined in the proposed budget would accelerate development in the region.

The committee subsequently adopted the N250 billion budget proposal as presented and urged the commission to sustain the momentum in delivering development projects across the South-East.