Follow Us on Google
…As region unveils N50bn MSME fund to revive economy
From Adanna Nnamani, Abuja
Former Senate President, Senator Ken Nnamani, has said that the recent defection of Enugu State Governor, Peter Mbah, to the All Progressives Congress (APC) is part of a strategy to unite the South East politically and foster regional development.
Nnamani stated this Friday at the South East Region-Wide Business and Investment Summit (SIBES) held in Abuja, where leaders from across the region deliberated on ways to strengthen political cooperation and attract fresh investments.
He noted that the South East remains the only geopolitical zone in Nigeria governed by four different political parties; the All Progressives Congress (APC), Peoples Democratic Party (PDP), All Progressives Grand Alliance (APGA), and Labour Party (LP). The former senate president described the development as balkanisation that hinders regional cooperation and progress.
“It might interest you that in the six geopolitical zones in Nigeria, it is only the South East where four parties are ruling five states. That is balkanisation. It makes collaboration and cooperation very difficult.
“We are now trying to narrow it down to a party or two so that our people can cooperate. There are things we can do as a team which we cannot do as individuals. So if you hear that Enugu has joined the ruling party, there is a reason for that,” he said.
Nnamani, who commended SIBES for championing economic initiatives beyond political agitation, said political unity would help the region attract more federal attention and investment.
“Nigeria is at a place where politics is critical to economics. If you don’t take politics seriously, you lose a lot. Our people must not ignore the effects of politics on business,” he added.
The former Senate President urged Igbo business owners to begin investing more in their home states, warning that many had lost properties due to unfavourable policies in other regions.
“Our people are being praised for being enterprising, but what is happening now is a lesson, you do not wait until it happens to you before you begin to invest at home,” he cautioned.
Other News
Also speaking, former Secretary to the Government of the Federation, Senator Anyim Anyim, said the South East must prioritise creating an enabling environment for investment by improving infrastructure, power supply, and security.
According to him, the region must learn to act collectively despite political differences, noting that Nigeria is becoming increasingly unpredictable politically, and only regional cooperation can guarantee economic resilience.
“Nobody is coming to invest in the South East if the enabling environment is not there. Government must provide that environment. If an investor has to generate his own power, water, and security, he will not find it profitable,” he said.
In his remarks, the Executive Secretary of SIBES, Dr. Ifedi Okwenna, announced plans to launch a N50 billion Micro, Small and Medium Enterprises (MSME) fund in January 2026 to re-energise the South East economy.
Okwenna said the fund was designed to stimulate growth in key sectors such as agriculture, energy, creative industries, and technology, while restoring the region’s leadership in entrepreneurship.
According to him, about 120 tech innovators from the South East will be showcased at the upcoming summit, with plans to inject targeted funding into their enterprises.
The ES added that the long-term vision of SIBES is to reposition the region as an industrial hub through coordinated investments, production clusters, and regional integration over the next decade.
“We have identified eight key areas, from agriculture and energy to creative arts and technology. Our goal is to create jobs, drive exports, and stop the region from being a dumping ground,” he explained.
