SEDC Seeks N140 Billion Budget Approval for 2026

The South-East Development Commission (SEDC) has requested legislative approval for a N140 billion budget for 2026, as disclosed by Managing Director Mark Okoy during a budget defense before the Senate Committee in Abuja. The commission aims to grow the South-East economy to N200 billion within the next decade.

The proposal outlines a phased approach, building on previous foundational structures and engaging broad stakeholder participation in the region. Okoy indicated that the commission has secured presidential approval to mobilize N150 billion for infrastructure and industrial projects.

The proposed 2026 expenditure does not include salaries or emoluments from the 2025 allocation. The South-East Investment Conference will operate under a public-private partnership framework involving the commission, state governments, private equity firms, and development finance institutions.

Senator Toni Nwoye urged the commission to prioritize impactful projects while maintaining transparency in fund utilization. Chairman Senator Orji Kalu warned of strict legislative oversight to prevent fund misappropriation.

President Bola Ahmed Tinubu is addressing the long-standing infrastructure deficit in the South-East.