Tinubu approves establishment of South East Development Company

— As Shettima launches vision 2050 blueprint for zone’s economic devt

—Says new investment company, diaspora partnerships ‘ll drive infrastructure, industrial transformation

—Let establishment be cash-backed– Ohaneze

By Johnbosco Agbakwuru

ABUJA — THE Vice President, Senator Kashim Shettima, Wednesday, said President Bola Tinubu has approved the establishment of the South East Investment Company Limited, designed to mobilise resources from the diaspora, capital markets, and development finance institutions for the region’s development.

Senator Shettima made the disclosure when he launched a 25-year development blueprint for the South-East region, saying the region is a central pillar of Nigeria’s economic future.

Speaking during the South-East Vision 2050 Regional Stakeholders’ Forum in Enugu, the Vice President said the gathering was a decisive break from short-term governance cycles toward a structured, multi-decade development framework.

“This forum reflects foresight, responsibility, and a shared understanding that the future is not something we wait for, but something we must deliberately design.

“In recognition of the distinctive character of the South-East, its entrepreneurial spirit, its global diaspora, and its long-standing relationship with international capital, President Bola Ahmed Tinubu approved the establishment of the South East Investment Company Limited,” VP Shettima said.

He said the company will work in synergy with the South-East Development Commission (SEDC) to address postwar infrastructure gaps and drive long-term regional competitiveness.

Senator Shettima reaffirmed that the SEDC was conceived to focus on structural transformation rather than routine administrative activity, insisting that Nigeria is strongest when its regions thrive.

“Let me be clear. This is not another layer of bureaucracy. It is a delivery institution, focused on tangible outcomes that translate into jobs, productivity, and growth,” he stated, noting that the South-East carries a unique historical burden, which makes deliberate regional planning both urgent and necessary.

The VP praised the inclusive nature of the forum, which brought together federal and state governments, traditional institutions, the private sector, civil society, and development partners.

He also acknowledged the presence of Umu Igbo Unite, a United States–based network of over 10,000 young professionals, saying, “The future of the South-East will be built both at home and abroad, together.”

Addressing the youth directly, the Vice President insisted that development must produce concrete results.

“To the young people of the South-East and of Nigeria as a whole, let me speak plainly. You are not spectators in our national journey. You are central to it. Your energy, creativity, and ambition are essential to the Nigeria we are working to build. Development must not remain an abstract promise. It must be felt in the daily lives of our people.

Earlier, Governor Peter Mbah of Enugu State joined his colleagues in the region in endorsing the vision 2050, explaining that the vision is an opportunity for the South East region to tap into the national agenda tagged vision 2060.

He applauded the unity of purpose among leaders and stakeholders in the region and proposed the birthing of a South East common market, describing the moment as the awakening of an economic giant.

On reimagining the South East as an economic bloc, Governor Mbah said the focus on the unity and synergy of ideas and resources and the decision to change the thinking of leaders and the people about their development trajectory, must remain paramount.

He urged a paradigm shift in the planning and execution of projects across the region while calling on the people of the area to complement the renewed drive by the Federal Government to improve the security of lives and livelihoods as well as integrate all parts of the region’s plan for inclusive development.

He thanked the Vice President for his show of dedication and substance to the cause of the South East region, noting that his presence reinforced the principle that sustainable regional development does not thrive in isolation but on dedicated national leadership as exemplified by the presence of the Vice President.

In his remarks, Governor Francis Nwifuru of Ebonyi State, pledged the support of the state government for the implementation of a development plan for the region, noting that the plan will close unemployment and poverty gaps, while unlocking potentials across different sectors of the region’s economy.

He said Ebonyi State, under his administration, is building on the foundation of past administration in agriculture and agribusiness, education, solid mineral development, and a roadmap for the transformation of Ebonyi state as a hub of rural development in the South East.

In the same vein, Governor Alex Otti of Abia State, expressed happiness and satisfaction over the unanimous adoption and support for the South East Vision 2050 by critical stakeholders across the private and public sectors, saying the summit is connected to revolution of the region and its economic transformation.

Citing examples of transparent leadership in Abia State and abundance of solid minerals and other natural resources across the South East, Governor Otti said the task of economic transformation and industrialisation of the region was feasible and possible with committed and transparent execution of development agenda.

For his part, Governor Charles Soludo of Anambra State, thanked President Tinubu for the creation of the SEDC, describing it as a gift to the region that has been clamoured for by stakeholders for a long time.

He said the conversation around the SEDC Vision 2050 was historic, as it was the first time the governors and other leaders across the region were united in the adoption of a framework that will guide the transformation of the area.

In a keynote address, the Resident Representative of the UNDP, Mrs Elsie Attafuah, spoke on global lessons in long-term regional planning through institutional capacity for sustainable implementation of development plans in complex contexts.

She said for genuine industrialisation to be achieved, policymakers and stakeholders must ensure that infrastructure built across the region serve domestic production.

She urged cutting edge execution of Vision 2050 by stakeholders across the region and noted the importance of catalysing the comparative advantages of southeastern states in ensuring sustainability of the gains recorded in the years to come.

In his remarks, the Minister of Regional Development, Engr Abubakar Momoh, said the event was a crowning moment in the development of the South East region, especially in fostering a united and prosperous future.

He said the creation of the SEDC by the administration of President Tinubu reflects an institutional commitment to the coordinated and targeted transformation of the region through the revitalisation of critical infrastructure such as the rail sector and the commodity ecosystem, among others.

For her part, the Minister of Trade and Investment, Dr Jumoke Oduwole, underscored the significance of aligning resources and efforts, which she said had been prioritized through the South East Vision 2050 programme.

Dr Oduwole pledged the support of her ministry and announced the ministry’s launch of a nationwide trade facilitation tour to boost the export potentials across the country, describing the South East region as the springboard for Nigeria’s industrial transformation.

In a goodwill message, President of Ohanaeze Ndigbo World Wide, Sen. Azuta Mbata, commended the Federal Government for its efforts in prioritizing regional integration and development through the summit.

He said the integration of the South East in the broader national development agenda is key, and pledged the support of the people of the region for the aspirations of the vision 2050 and the Renewed Hope Agenda of administration of President Bola Tinubu.

The Ohaneze President said establishment of SEDC is expected to assuage Ndigbo and tasked the government to make available funds to the commission in order to perform effectively.

On his part, Chairman of the South East Development Commission, Sir Emeka Wogu, thanked President Tinubu for his commitment to the progress and development of the South East region and its people.

He said the South East vision 2050 is unique and designed to ensure continuity in the execution of development agenda for the region and the synergy of efforts by the respective state governments.

For his part, the Managing Director of the SEDC, Mr Mark Okoye, thanked President Tinubu for the creation of the commission as a special purpose vehicle to champion the economic transformation of the region.

He said the SEDC will seek the partnership of state governments, diaspora community and the organised private sector in implementing the 2050 vision aimed at charting a shared path to sustainable prosperity for South East Nigeria focusing on infrastructure, power, peace building and connectivity, among others.

There were also goodwill messages from representatives of corporate bodies, the Manufacturers Association of Nigeria (MAN), faith-based organisations, youth groups, diaspora community and development partners, among others.

The Vice President, accompanied by governors of the southeast region and other dignitaries, toured the exhibition gallery mounted by the Director-General, National Council for Arts and Culture.

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