Benjamin Kalu, deputy speaker of the house of representatives, says funds for the south-east development commission (SEDC) have not been released despite the passage of the bill and presidential assent.
In July 2024, President Bola Tinubu signed the SEDC bill into law. The bill was sponsored by Kalu, who represents Bende federal constituency of Abia state.
Speaking on Political Paradigm, a Channels Television programme, Kalu said the commission was conceived to address the “reconstruction, reintegration and reconciliation” promised to the region after the civil war but never implemented.
“You know, south-east passed through civil war. Even though the history books are no longer talking much about it, which is not right because we have to learn from history for it not to repeat itself,” he said.
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He said failure to implement the plan led to dissatisfaction in the region for decades, making the SEDC an essential tool for healing.
Kalu said the national assembly passed the bill with bi-partisan support, while the president assented to it, appointed a board, and approved a budget.
“Now where we are is implementation; release of funds, which is a general problem,” he said.
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“The fund is going to come when others are coming; and in a few days, a few weeks, the agency will have funds to begin to activate the dreams of the region.”
The deputy speaker added that the SEDC would support agriculture, power, infrastructure, technology, and commerce in the south-east, while also addressing insecurity through economic empowerment.
Kalu also noted that the president had approved a south-east investment company to attract diaspora and private equity contributions for regional rebuilding.
On February 12, Mark Okoye, the managing director of the SEDC, said the commission is targeting $200 billion regional economic growth by 2035.
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Okoye projected a 400 percent growth from the current $40 billion within the next decade.
