The South East Development Commission (SEDC) has unveiled an ambitious economic transformation agenda aimed at driving long-term growth in Nigeria’s South East region. The plan, which includes building a $1 billion asset base through the newly established South East Investment Company (SEIC) by 2035 and creating a $50 million South East Venture Capital Programme, is designed to support startups, innovation, and inclusive regional development.
These initiatives were revealed in a statement marking the first 100 days in office of Mark Okoye II, the Managing Director and Chief Executive Officer of the commission. According to the SEDC, the plan aims to unlock the full economic potential of the Southeast by investing in sustainable projects and fostering a strong innovation culture to empower youth and small businesses.
Since the commission’s inception earlier this year, it has moved quickly to establish its operational structure with administrative offices in Enugu, Abia, and the Federal Capital Territory, Abuja. The statement noted that these foundations are necessary to implement wide-ranging projects that address both grassroots needs and broader economic ambitions.
Among the flagship programmes launched in the last 100 days are the South East Investment Company (SEIC), which aims to attract and drive bankable regional projects towards the $1 billion target, and the South East Venture Capital Fund, a $50 million vehicle for supporting technology-driven startups, MSMEs, and community-focused enterprises.
In addition, the South East Grassroots Recreation Infrastructure Development (SEGRID) project was introduced to boost youth development and sports infrastructure across communities. These efforts form part of SEDC’s broader mission to drive inclusive growth across all five states in the region—Abia, Anambra, Ebonyi, Enugu, and Imo.
The commission has already begun deep engagement with key stakeholders, holding virtual public sessions with over 30 federal ministries, agencies, and parastatals. These sessions also involved development finance institutions, academic bodies, leaders of the organised private sector, and over 1,000 citizens from within and outside the region. So far, 3,500 volunteers have registered to support SEDC’s mission, showing growing public interest and confidence in the commission’s direction.
Speaking on the achievements so far, Mark Okoye expressed appreciation for the support from both the government and the public. “The last 100 days reflect our shared commitment to turning the President’s Renewed Hope Agenda into real, lasting change for the South East. I am deeply grateful to President Bola Ahmed Tinubu for entrusting me with this role and to the thousands of volunteers who have rallied around this cause,” he said.
He further noted that the SEDC is not just about governance but about creating a lasting movement for the region. “Together, we are building not just an institution, but a movement, one rooted in vision, driven by collaboration, and destined to shape a future we can all be proud of for the South East.”
Looking ahead, the commission is shifting from the planning phase to full-scale programme execution. Its next move includes deepening engagement with state governments, private sector players, civil society groups, and development partners both within and outside Nigeria. These partnerships are crucial to meeting its long-term goal of catalysing a $200 billion regional economy by 2035.
The creation of the SEDC followed the passage of a bill by the Nigerian Senate in February 2024. The law empowers the commission to oversee infrastructure projects, tackle ecological and environmental issues, and manage funds allocated from the Federation Account. Its mandate also includes rebuilding critical infrastructure—roads, housing, and social services—damaged over time in the South-east region due to both neglect and conflict.
With a clear vision and strong political backing, the South East Development Commission is positioning itself as a central player in the region’s future. As the SEDC embarks on this new chapter, it brings a renewed sense of purpose and urgency to one of Nigeria’s most enterprising regions.
