Let me congratulate Mr. President for launching the South-East Investment Company (SEIC): “President Bola Ahmed Tinubu has approved the establishment of the South-East Investment Company (SEIC), a federally backed investment vehicle under the newly formed South East Development Commission (SEDC), in what is being described as a critical step toward closing decades-long economic gaps in Nigeria’s South-East region. With a projected capital base of N150 billion, the SEIC is tasked with mobilizing private sector funds, boosting industrialization, and driving inclusive growth in the zone”.
This is commendable. Largely, SEIC could be a management company that will work with technical partners to execute catalytic and pivotal projects in SE Nigeria. We hope to see Southeast Railways to link all the states in the region. Also, we should have Southeast Post to ensure that we have an efficient supply chain system. Finally, SEIC must invest in gas pipelines that will link all major cities in the Southeast as without energy, there will not be development. Leave marginal domains like real estate, hospitals, telecoms, etc as if you deal with the anchors like railways, postal services and energy, private investors will converge and develop those areas.
Developing the Southeast can only happen this way as the individual states do not have capacities to execute major projects. Nigeria developed fastest when it was structured regionally!
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At Abia State Diaspora Commission, we are exploring the concept of unveiling Abia Diasporas Corporation Plc, a vehicle to drive development through private investments, with the understanding that all citizens of the world are Abians, since Abia is the God’s Own State (and God’s Own People!). The Commission will explore strategic partnerships with SEIC/SEDC as the playbooks advance. In Abia, we have noted that linking all LGA headquarters with rail tracks will drive the development of rural communities since access to markets, efficient logistics, etc will accelerate economic outputs.
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