By George Ozalla
The South East Development Commission (SEDC) appeared before the National Assembly on February 24, 2026 to defend its 2026 budget proposal and present a comprehensive development plan for the South-East region. The Managing Director of the commission, Mark Okoye, appeared before the Senate Committee on South-East Development Commission seeking legislative approval for a N140 billion allocation for the coming fiscal year. The session drew close attention from lawmakers, reflecting the high expectations for tangible development outcomes and prudent use of public funds.
Okoye outlined the Commission’s long-term economic blueprint aimed at transforming the South-East into a $200 billion economy within the next decade. The strategy, shaped through extensive stakeholder engagement including the Southeast Vision 2050 forum attended by governors of all five South-East states, the Vice-President, federal ministers and thousands of participants, seeks to position the region as a preferred destination for investment and growth. He also highlighted plans for a Southeast Investment Conference vehicle designed to build a $1 billion balance sheet within eight years through public-private partnerships involving state governments, private equity firms and development finance institutions.
The N140 billion budget for 2026 represents a shift from planning to execution. Okoye described the coming fiscal year as the Commission’s “real take-off year” following delayed releases of the 2025 allocation. Of the total request, about N108 billion is earmarked for capital projects, N23 billion for overheads, and roughly N7.3 billion for personnel costs. He informed lawmakers that the Commission received only N5 billion of its 2025 allocation late in the year, with about N957 million spent mainly on stakeholder engagement, media outreach and investment promotion.
Okoye also presented a 100-day critical action plan to be activated once funds are released. This includes establishing the Commission’s regional office, launching a Southeast venture capital programme, capitalising its investment company, and initiating key agricultural and grassroots sports development initiatives. He emphasised that groundwork has already been laid to ensure projects can commence promptly once resources become available.
While Senators acknowledged the strategic value of the Commission’s development blueprint, they stressed the need for rigorous oversight. Chairman of the Senate Committee on South-East Development Commission, Senator Orji Uzor Kalu, praised the vision as promising but warned against misuse of public funds or allowing the Commission to become a channel for financial abuse. He emphasised that the Commission must focus on delivering infrastructure and services that directly improve the lives of citizens across the region.
Other lawmakers called for prudence and impactful spending. Senators urged SEDC to prioritise foundational infrastructure such as schools, hospitals, regional power initiatives and reference healthcare facilities. They criticised excessive emphasis on seminars and conferences, insisting that the budget must address the most pressing socio-economic needs of communities in Abia, Anambra, Ebonyi, Enugu and Imo states. Lawmakers stressed that the Commission must demonstrate fiscal discipline, ensure environmental sustainability, strengthen security outcomes, and embark on projects with measurable benefits for citizens.
