…to grow the Southeast economy from its current $40 billion to $200 billion in 10 years

The South East Development Commission (SEDC) is championing strategic investments in agriculture and venture capital as part of a bold plan to transform the region’s economy and align with the national $1 trillion GDP target.

Mark Okoye, managing director/CEO of SEDC, revealed this at the 4th Intra-African Trade Fair organised by Afreximbank, the African Union Commission, and AfCFTA, emphasising that the commission’s role is to enable collaboration among state governments and unify the region under a shared economic agenda.

According to Okoye, the SEDC’s ‘Quick Win Agenda’ is focused on immediate impact in agriculture, sports development, and innovation funding. In agriculture, the commission is targeting 50,000 to 60,000 hectares for mechanised farming over the next three to four years, partnering with government agencies and private investors to create jobs for youth in rural communities. On sports, he highlighted plans to build infrastructure that would engage young people, foster unity, and boost regional morale.

To nurture innovation, SEDC is creating a regional venture capital fund aimed at giving Southeast-based startups access to seed funding locally, instead of seeking support in far-flung African cities. Okoye lamented that young innovators from top institutions like FUTO and UNN often travel abroad for modest startup capital, a gap the Southeast Regional Capital initiative intends to close.

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The commission’s broader ambition, outlined in its Strategic Roadmap, is to grow the Southeast economy from its current $40 billion to $200 billion in 10 years. This will be achieved through partnerships with state governments, private sector actors, international development agencies, and local citizens.

A key part of the transformation includes reviving dormant industries through the Southeast Investment Company, which will provide technical and financial support once rightful owners are ready to engage. Okoye noted that while larger infrastructure projects like regional rail and power will take time, the commission is set on delivering quick wins to build momentum.

He also underscored the historical importance of the commission, stating that although the idea of the SEDC dates back to 1970, it was only under President Bola Ahmed Tinubu that the enabling law was passed and the commission inaugurated. Since then, Okoye said, the president has shown full support for the commission’s efforts to accelerate development in the region.

Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks. She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings. Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.

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