APGA National Chairman Backs Mark Okoye, Calls For Constructive Engagement with SEDC

By Okey Maduforo Awka .

The National Chairman of the All Progressives Grand Alliance (APGA), Chief Barr. Sly Ezeokenwa, has thrown his weight behind the Managing Director and Chief Executive Officer of the South East Development Commission (SEDC), Mr. Mark Okoye, urging stakeholders to engage the commission constructively rather than rush to judgment over issues raised during a recent Senate oversight session.

In a statement issued on Wednesday, Ezeokenwa described legislative oversight as a vital component of democratic governance and institution-building, stressing that observations and queries raised by the Senate Committee on the commission’s 2025 budget implementation should be viewed within the broader context of strengthening transparency, accountability and public confidence in public institutions.

The APGA National Chairman expressed confidence in the leadership of the commission and its capacity to provide all necessary clarifications and documentation required by the Senate.

“Transparency and accountability remain indispensable pillars for the success of any public institution,” he said, adding that constructive scrutiny ultimately contributes to institutional credibility”

Ezeokenwa, however, cautioned against attempts to misrepresent the commission’s mandate or politicise legitimate developmental initiatives.

He urged commentators, stakeholders and members of the public to focus discussions on the SEDC’s statutory responsibilities, long-term development strategy and expected outcomes rather than isolated interpretations of budget line items.

According to him, the SEDC, established under the South East Development Commission Act of 2024, was conceived not merely as an agency for project distribution but as a strategic regional reconstruction and economic transformation institution.

He said the commission has articulated an ambitious vision of transforming the South-East into a $200 billion regional economy by 2035–2036 through investments in infrastructure renewal, industrialisation, private-sector-led development, innovation, international investment promotion, venture capital attraction and regional value-chain integration.

The APGA Chairman explained that a key component of the strategy is the proposed South East Investment Corporation (SEIC), which he said is designed to serve as a catalytic investment platform capable of mobilising substantial long-term capital for the region.

He noted that the capital mobilisation framework envisages raising about $150 billion while building a structured balance sheet target of $1 billion within eight years through the South East Investment Conference platform and related mechanisms.
Ezeokenwa argued that some budgetary components currently attracting public attention should be understood within the wider framework of institution-building and strategic planning.

He said expenditures relating to feasibility studies, project development, institutional planning, investment promotion, innovation ecosystems, stakeholder engagement, diaspora mobilisation, financial advisory services, branding and strategic communications are foundational investments required to attract large-scale capital and build globally competitive institutions.

“No serious development institution can attract multilateral financing, international investors, sovereign wealth participation or large-scale private capital without undertaking the preparatory work necessary to establish credibility and bankable projects,” he said.

Drawing parallels with global development models, Ezeokenwa cited the Tennessee Valley Authority in the United States, Nigeria’s North East Development Commission, the Singapore Economic Development Board and the Dubai International Financial Centre Authority as examples of institutions that laid strong planning and governance foundations before delivering transformative economic outcomes.

He maintained that rebuilding the South-East requires more than isolated projects and would demand a coordinated regional framework integrating infrastructure, energy, manufacturing, technology, finance, logistics and human capital development.

“A $200 billion regional economy will not be built through fragmented interventions or short-term optics. It will be achieved through strategic planning, disciplined execution, institutional credibility, private-sector participation, capital mobilisation and regional collaboration,” he stated.

The APGA leader called on governors, traditional institutions, financial institutions, professional bodies, youth groups, civil society organisations and members of the South-East diaspora to support the commission’s efforts while continuing to demand transparency and accountability through established channels.

He reaffirmed APGA’s confidence in Okoye and the management team of the commission, expressing optimism that the institution would continue to strengthen its systems, address concerns raised through oversight processes and remain focused on delivering its mandate of driving the region’s reconstruction and economic transformation.

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