The SEDC has called for faster release of its 2026 budget allocation, saying less than 10 per cent has been released to date across all budget lines
The South East Development Commission (SEDC) has reaffirmed its commitment to transparency, accountability and regional development, while calling for the accelerated release of budgeted funds to enable it to deliver key infrastructure and economic projects across the South-East.
The commission made the appeal after appearing before the Senate Committee on the South East Development Commission (SEDC) during an interactive oversight session at the National Assembly chaired by Senator Orji Uzor Kalu.
In a statement on Tuesday signed by the Executive Director, Finance, Mr. Stanely Ohajuruka, the Commission said it provided lawmakers with detailed information on its organisational structure, staffing, budget performance, procurement processes, contracts awarded, institutional partnerships and ongoing projects across the South-East.
The Commission also briefed the committee on its engagements with state governments, federal institutions, development finance organisations and other stakeholders working to advance the region’s development agenda.
According to the statement, the Senate Committee requested additional documentation relating to certain aspects of the Commission’s operations and programme implementation.
The Commission said it welcomed the request and sought a short period to collate the required materials before transmitting them to the committee.
“Following discussions, the Committee adjourned proceedings to a later date pending receipt of the requested submissions, which the Commission is expected to provide on or before 23 June 2026,” the statement said.
Despite funding challenges, the Commission said it had made significant progress on strategic regional initiatives since the inauguration of its Board.
It disclosed that preparatory work had advanced on several transformational infrastructure projects, including gas pipeline and railway initiatives designed to boost economic integration and development across the region.
The Commission also highlighted partnerships established with key institutions, including the United Nations Development Programme (UNDP), Afreximbank, the Rural Electrification Agency, the Bank of Industry, the Presidential Initiative on Compressed Natural Gas and the Gas Aggregator Company of Nigeria.
It added that it had continued to engage with the governments of the five South-East states, federal ministries and agencies, academic institutions, development partners and private sector stakeholders in pursuit of a coordinated regional development strategy.
The statement further noted that one of its major achievements was the successful convening of the South East Vision 2050 stakeholder consultations, which brought together government officials, development partners, business leaders, academics, civil society groups and community representatives to develop a long-term economic transformation framework for the region.
The Commission also pointed to the successful implementation of the inaugural South East Venture Capital Programme (SEVCP), describing it as a flagship initiative aimed at promoting innovation, entrepreneurship and investment.
It said 25 startups from across the South-East secured equity investment through a transparent and competitive selection process under the programme.
According to the Commission, the initiative aligns with President Bola Tinubu‘s renewed hope agenda and is intended to strengthen entrepreneurship, private sector growth and investor confidence.
The statement added that the programme, anchored within the South East Investment Company, seeks to establish a structured venture capital ecosystem by combining capital deployment with venture development and institutional partnerships capable of attracting investments into early-stage businesses.
The Commission, however, expressed concern over the slow release of budgetary allocations, warning that inadequate funding could affect the pace of project implementation.
It stated:Â “While the Federal Government and National Assembly have demonstrated commitment to the South East through the establishment and funding of the Commission, the pace of implementation remains closely tied to the timely release of appropriated funds.”
The Commission disclosed that “of the N140 billion appropriated to the Commission in the 2026 budget, less than 10 per cent has been released to date across all budget lines.”
It therefore called for accelerated releases to enable the implementation of critical infrastructure projects, economic development programmes, agricultural transformation initiatives, youth empowerment schemes and regional security interventions.
“The scale of development required across the South East demands sustained funding, institutional coordination, and continued collaboration among all stakeholders,” the statement said.
Reaffirming its commitment to legislative oversight, the Commission stated that “SEDC remains committed to full cooperation with the National Assembly and all relevant oversight institutions.”
It added that “the Commission views accountability, transparency, and constructive engagement as fundamental to the successful delivery of its mandate and will continue to provide all information required to support effective legislative oversight.”
The Commission maintained that it remains focused on delivering measurable impact across the South-East through disciplined planning, transparent governance, strategic partnerships and the effective deployment of public resources, while expressing appreciation for the continued support of the National Assembly in advancing inclusive growth and long-term regional development.
