.Urges Igbo businessmen to think home
Managing Director of the South East Development Commission (SEDC), Mark Okoye, has said the Commission’s vision is to make the South-East the preferred investment destination in Africa by 2035.
Okoye made the disclosure while delivering his remarks at the 10th anniversary of De Pinnacle International Social Club on Sunday in Abuja.
Speaking on the topic: “Regional Development, Public-Private Partnership and the Role of Institutions like SEDC in Shaping the Future of South East, Nigeria”, Okoye who was represented at the event by the Executive Director, Projects and former Deputy Minority Leader of the House of Representatives, Hon. Toby Okechukwu highlighted the role of institutions like SEDC in building a prosperous homeland.
He however submitted that government or the private sector alone cannot develop a region.
Okoye therefore stressed the need for relevant institutions to harmonize such efforts.
He said: “How do we build a prosperous homeland? Government alone cannot develop a region. Private sector alone cannot. We need institutions to harmonize. That is SEDC’s role. We are not here to compete with you. We are here to be a platform. Our vision: To make the South-East the preferred investment destination in Africa by 2035.”
The Managing Director noted that if one million people put one million naira each, it would amount to one trillion naira, which can build industrial parks, power projects and agro hubs, adding that the SEDC is providing the enabling platforms through three programmes which include the South East Investment Company (SEIC), Agriculture and Sports and the $50 Million Venture Capital Programme.
“If one million of us put one million naira each, we have one trillion naira. That trillion can build industrial parks, power projects, agro hubs. Our people already move that money every December for ceremonies and buildings. What we lack is the vehicle. The SEDC is providing that vehicle through three programmes:
“First, the South East Investment Company – SEIC. The objective to aggregate capital and de-risk large-scale projects. You bring capital, networks, and discipline. We provide structure, independent oversight, and audited accounts.
“Second, Agriculture and Sports. Our Agro-Development pilot has started at Nomeh, Nkanu East, Enugu, beyond
farming to processing and value chains. And SEGRID, our grassroots sports infrastructure – will turn youth energy into
industry and stability.
“Third, the $50 Million Venture Capital Programme, to turn ideas into institutions through equity, not handouts.
This is where I charge De Pinnacle. You have moved from parties to purpose. Now move from purpose to ownership. I
challenge you tonight: Pool your resources and own something together for Ala-Igbo”, he said.
Okoye also charged members of De Pinnacle, who have moved from parties to purpose, to now move from purpose to ownership, noting that President Bola Ahmed Tinubu has given the people a viable platform to develop themselves.
“I challenge you tonight: Pool your resources and own something together for Ala-Igbo. Start with a Microfinance Bank owned by Pinnacle members to serve our traders and farmers. Then think bigger, single-state specialized markets, industrial parks, logistics, financed through South East Investment Company, SEIC.
“We have the identity. We have the spirit. We have the human capital. Igwe bu ike – Unity is strength.
“A prosperous homeland is our best insurance. And Mr. President has given us the platform to build it. It is now our duty to build. From ten years of excellence to one hundred years of institutions”, he said.
The anniversary attracted the presence of the Minister of Works, Senator David Umahi, the Minister of Foreign Affairs, Amb. Bianca Ojukwu, Senator Victor Umeh, the Chairman of United Nigeria airline, Professor Obiora Okonkwo amongst other government functionaries and dignitaries from the South East.