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The South East Development Commission (SEDC) has called for the collaboration of the people of the South East zone for the development of the region.
The SEDC Executive Director (Projects), Toby Okechukwu, who made the call while speaking at the 10th anniversary of De Pinnacle International Social Club in Abuja, said neither the government nor the private sector can achieve development alone.
Consequently, Okechukwu stressed the need for a Public-Private Partnership (PPP) for the development of the South East zone, noting that the SEDC is already designed to serve as a vehicle for the development of the region.
The executive director, who spoke on “Regional Development, Public-Private Partnership and the Role of Institutions like SEDC,” explained that the vision of the SEDC is to make the South East the preferred investment destination in Africa by 2035.
According to him, to actualise its vision, the commission has put in place three programmes – the South East Investment Company (SIEC), agro development and a $50 million venture capital programme, to turn ideas into institutions through equity.
He said, “How do we build a prosperous homeland? Government alone cannot develop a region. Private sector alone cannot. We need institutions to harmonise. That is SEDC’s role. We are not here to compete with you. We are here to be a platform.”
“Our vision: to make the South-East the preferred investment destination in Africa by 2035. If one million of us put one million naira each, we have one trillion naira. That trillion can build industrial parks, power projects, agro hubs. Our people already move that money every December for ceremonies and buildings. What we lack is the vehicle.”
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“The SEDC is providing that vehicle through three programmes: First, the South East Investment Company – SEIC. The objective is to aggregate capital and de-risk large-scale projects. You bring capital, networks, and discipline. We provide structure, independent oversight, and audited accounts. Second, Agriculture and Sports.”
“Our agro-development pilot has started at Nomeh, Nkanu East, Enugu, beyond farming to processing and value chains. And SEGRID, our grassroots sports infrastructure, will turn youth energy into industry and stability. Third, the $50 million venture capital programme, to turn ideas into institutions through equity, not handouts.”
Okechukwu, while stressing that there is strength in unity, charged the members of De Pinnacle International Social Club to pool their resources together for economic ventures that would benefit the people of the South East.
“Pool your resources and own something together for Ala-Igbo. Start with a microfinance bank owned by Pinnacle members to serve our traders and farmers. Then think bigger, single-state specialised markets, industrial parks, logistics, financed through SEIC.”
“Look at Catalonia in Spain. From textiles they built an industrial economy. FC Barcelona is owned by its members – identity became organisation, organisation became enterprise. We have the identity. We have the spirit. We have the human capital.”
“Igwe bu ike – unity is strength. Let me close with why this matters. Sometimes our people face harassment abroad, South Africa painfully reminds us. Each time, we are anxious. A people whose prosperity lives mainly elsewhere will always be nervous. A people with strong enterprises at home can welcome their children back with dignity. A prosperous homeland is our best insurance,” he stated.
