The Chairman of the Senate Committee on the South East Development Commission (SEDC), Orji Uzor Kalu, on Tuesday presided over a high-stakes budget defence session in which the commission unveiled an ambitious plan to grow the South East into a $200 billion economy by 2035.
The strategic outlook, presented by SEDC Managing Director and Chief Executive Officer, Mark Okoye, covered the commission’s February 2025–February 2026 program year and outlined what officials described as a “bold and coordinated development framework” for Abia, Anambra, Ebonyi, Enugu, and Imo states.
At the centre of the presentation was a decade-long roadmap anchored on large-scale capital mobilization, industrial expansion, infrastructure renewal, and regional economic integration.
$200bn Target and Financial Benchmarks
According to the commission, the 2035 target would be driven by strategic investments across manufacturing, infrastructure, energy, technology, and regional trade.
The SEDC also announced interim financial benchmarks, including:
A $1 billion regional funding target in the short to medium term.
A projected ₦150 billion capital base for the proposed South East Investment Corporation (SEIC).
Asset-base strengthening mechanisms aimed at attracting domestic and foreign investors.
Officials said the framework is designed to reposition the South East as a preferred investment destination in Africa, leveraging its entrepreneurial base and diaspora networks.
Legislative Oversight Emphasized
Speaking during the session, Kalu stressed that while the vision is ambitious, legislative scrutiny would remain rigorous.
“As a committee, our responsibility is to ensure that every budget proposal aligns with transparency, accountability, and measurable impact for our people,” he said.
He commended the SEDC leadership for articulating a clear strategic direction but emphasized that execution would be closely monitored.
The Senate Committee, he added, would provide necessary oversight and support to ensure that proposed allocations translate into tangible outcomes such as roads, industries, job creation, and improved security.
Economic Context and Regional Expectations
The $200 billion projection has already sparked conversation among policy analysts, given its scale relative to Nigeria’s overall economic size.
Observers note that achieving such growth would require sustained double-digit expansion, infrastructure upgrades, stable security conditions, and strong public-private partnerships.
The South East region is widely recognized for its commercial clusters in cities such as Aba, Nnewi, and Onitsha, as well as a strong diaspora remittance base.
However, it also faces longstanding infrastructure deficits and security challenges that analysts say must be addressed to unlock large-scale investment.
What Comes Next
The 2026 budget proposal submitted by the SEDC will undergo further legislative review before appropriation.
Key issues expected to dominate subsequent deliberations include funding sources, governance structures for the proposed investment corporation, performance metrics, and safeguards against misallocation.
If implemented as outlined, the commission’s roadmap could mark one of the most ambitious regional economic transformation efforts in Nigeria’s recent history.
For now, attention shifts from rhetoric to execution as lawmakers and stakeholders assess whether the $200 billion ambition can move from strategic blueprint to measurable economic reality by 2035.
