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The House Committee on the commission has approved the N140 billion budget request for the South East Development Commission (SEDC) for 2026.
After clearing the budget plan as a working document, Representative Chris Nkwonta, the committee chairman, commended Mr. Mark Okoye, the managing director of the commission, for a job well done.
Nkwonta referred to Okoye as “a round peg in a round hole,” praising his vision and economic plans for the development of the South-East zone.
The managing director had earlier presented the commission’s growth plans for the South-East zone.
He says one of the proposals that will boost commerce and investment is to establish railroads between the five states that make up the zone.Within the next ten years, we will employ technology, agriculture, and industrialization to make the South-East a preferred investment destination,” he said.
Okoye believed that for the region to form a strong economic bloc, its economic policies had to be unified.
He commended President Bola Tinubu for approving South East Development Company Limited, which will enable the commission to purchase a $1 billion market portfolio over the course of the next decade.
The commission is ready to deal with underemployment, which he says is more common in the region, according to the managing director.
