The South East Development Commission (SEDC) has unveiled an ambitious plan to grow the South-East economy from about $40 billion to $200 billion within the next decade, as part of a sweeping development strategy aimed at boosting investment, infrastructure and regional security.
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 commission at the National Assembly Complex.
Okoye said the commission’s blueprint is designed to accelerate economic growth through industrialisation, agriculture, technology and the creative economy, while also building critical infrastructure to make the South-East a major investment destination in Africa.
According to him, achieving the ambitious target would require strong collaboration with state governments, the legislature, the private sector and the diaspora community.
“We believe that with the right partnerships and sustained commitment, the South-East economy can expand significantly within the next ten years,” he said.
The SEDC boss also raised concern over environmental degradation in the region, revealing that the South-East currently has more than 2,700 erosion sites, with the cost of fixing a single site estimated between N10 billion and N20 billion.
To drive infrastructure development, Okoye disclosed that the commission plans to capitalise the South-East Investment Company Limited, an investment vehicle aimed at mobilising private sector funding for large-scale projects such as railways, power, ports and gas pipelines.
The company will also undertake feasibility studies and structure bankable projects capable of attracting investors and development partners.
In the area of security, Okoye highlighted the South-East Security Intervention Programme, which aims to create a coordinated security architecture across the five states of the region.
He noted that improving security coordination is critical to creating a stable environment that encourages investment and economic growth.
The commission also plans to establish a Project Preparation Facility to finance feasibility studies, environmental assessments and engineering designs for major infrastructure projects.
On agriculture, Okoye said the commission intends to promote mechanised farming through the establishment of demonstration farms of 200 to 300 hectares across rural communities.
The initiative will support the development of agro-industrial hubs and create aggregation centres to help smallholder farmers market their produce.
Other key programmes captured in the 2026 budget include the South-East Industrialisation Programme, aimed at developing special economic zones to attract manufacturing investments, as well as a Youth Entrepreneurship and Innovation Programme designed to support technology startups and young entrepreneurs.
The commission also plans to invest in grassroots sports infrastructure to nurture young talents and promote national unity.
Responding to the presentation, Chairman of the House Committee on the commission, Chris Nkwonta, commended the SEDC for its detailed submission and acknowledged the progress recorded since its inauguration in February 2025.
“The committee is satisfied with the commission’s performance within its short period of operation,” he said.
The committee subsequently adopted the commission’s N250 billion budget proposal, urging the leadership of the SEDC to sustain the momentum and ensure that the programmes translate into tangible development for the South-East region.
SEDC Unveils Bold $200bn Plan to Transform South-East Economy
