ABUJA: The House Committee on the South East Development Commission (SEDC) has approved the commission’s ₦140 billion budget proposal for 2026.
The approval was announced after the committee, chaired by Rep. Chris Nkwonta, adopted the proposal as a working document.
Nkwonta praised SEDC Managing Director Mr. Mark Okoye for his leadership, describing him as “a round peg in a round hole” and commending his development plans for the South-East region.
Okoye outlined the commission’s development agenda, which includes constructing railways across the five South-East states to improve trade and attract investment.
He said harmonising economic policies across the zone would create a unified economic block and facilitate growth.
He also thanked President Bola Tinubu for approving the South East Development Company Limited, which is expected to enable the commission to secure a one-billion-dollar market portfolio within ten years. Okoye added that the commission is committed to addressing underemployment, which remains high in the region.
The budget will support projects such as industrial parks, agro-processing centres, and technology hubs aimed at boosting the regional economy and creating jobs.
