The House of Representatives Committee on the South East Development Commission (SEDC) has approved the commission’s N140 billion budget proposal for the 2026 fiscal year.

Chairman of the committee, Chris Nkwonta, announced the approval during the committee’s session after members adopted the proposal as a working document.

Nkwonta commended the Managing Director of the commission, Mark Okoye, for what he described as a commendable performance in steering the agency’s development agenda.

He described Okoye as “a round peg in a round hole,” praising his vision and economic plans aimed at accelerating development across the South-East region.

Earlier in his presentation, Okoye outlined several strategic initiatives the commission plans to undertake to stimulate economic growth in the five states of the zone.

He disclosed that one of the key projects under consideration is the development of a railway network linking the states in the region to enhance trade, mobility and investment opportunities.

According to him, improved transport infrastructure would play a major role in boosting commercial activities and strengthening regional integration.

The managing director also stated that the commission had set an ambitious goal of transforming the South-East into a major investment destination within the next decade.

He explained that the vision would be driven through targeted investments in industrialisation, agriculture and technology development.

Okoye emphasised the importance of harmonising economic policies across the five states to create a unified economic bloc capable of attracting both domestic and international investors.

He further commended Bola Ahmed Tinubu for approving the establishment of the South East Development Company Limited.

According to him, the initiative will enable the commission to develop a one billion dollar market portfolio within the next ten years.

Okoye also assured lawmakers that the commission would prioritise programmes aimed at addressing the high rate of underemployment in the region.

He noted that tackling underemployment and expanding job opportunities would remain central to the commission’s development agenda.

The committee members expressed optimism that the approved budget would enable the commission to begin implementing its development plans for the South-East zone.