{"id":127505,"date":"2026-06-10T00:17:05","date_gmt":"2026-06-09T23:17:05","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=127505"},"modified":"2026-06-10T00:17:05","modified_gmt":"2026-06-09T23:17:05","slug":"sedc-pledges-full-cooperation-with-senate-oversight-committee","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/sedc-pledges-full-cooperation-with-senate-oversight-committee\/","title":{"rendered":"SEDC Pledges Full Cooperation with Senate Oversight Committee"},"content":{"rendered":"<div id=\"1\" class=\"spacer overlay\" style=\"text-align: justify;\">By Tracy Moses<\/div>\n<div id=\"m#msg-f:1867545236756253016\" class=\"mail-message expanded\">\n<div id=\"m#msg-f:1867545236756253016-content\" class=\"mail-message-content collapsible zoom-normal mail-show-images \">\n<div class=\"clear\">\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The South East Development Commission (SEDC) has reaffirmed its commitment to full cooperation with the National Assembly, following an interactive oversight session with the Senate Committee on South East Development Commission held at the National Assembly, Abuja.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The session, chaired by the Committee Chairman, Senator Orji Uzor Kalu, formed part of the legislature\u2019s constitutional mandate to scrutinise the operations, finances and programme implementation of federal agencies established to drive regional development.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The engagement provided an opportunity for the Commission to present a comprehensive briefing on its activities since the inauguration of its Board in February 2025, covering budget performance, institutional structure, procurement processes, partnerships and ongoing development programmes across the South-East geopolitical zone.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">In a statement issued after the session, the Commission said it \u201cprovided detailed information on its organisational structure and staffing, budget performance, procurement processes, contracts awarded, institutional partnerships, and ongoing programmes across the region.\u201d<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The SEDC also briefed the Committee on its engagements with state governments in Abia, Anambra, Ebonyi, Enugu and Imo, as well as federal ministries, development finance institutions and private sector partners involved in advancing the region\u2019s development priorities.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">However, lawmakers requested additional documentation on specific aspects of the Commission\u2019s operations and programme implementation. The Commission said it welcomed the request and sought time to compile and transmit the required materials.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">According to the statement, \u201cthe 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.\u201d<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The Commission used the session to restate its guiding principles of transparency, accountability and institutional discipline, noting that it remains fully aligned with legislative oversight processes.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">\u201cSEDC remains committed to full cooperation with the National Assembly and all relevant oversight institutions. 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,\u201d the statement read.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Funding constraints and implementation challenges<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">A major highlight of the engagement was the Commission\u2019s concern over funding limitations affecting project execution across the South-East.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">SEDC disclosed that despite the appropriation of N140 billion in the 2026 budget, less than 10 per cent has so far been released, a development it said has slowed implementation of key infrastructure and development programmes.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The Commission stressed that its ability to deliver on its mandate is directly tied to timely access to appropriated funds, warning that delays could affect strategic interventions in infrastructure, agriculture, youth empowerment and regional security.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">It noted that: \u201cOf the N140 billion appropriated to the Commission in the 2026 budget, less than 10% has been released to date across all budget lines.\u201d<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">SEDC further emphasized the need for accelerated releases, stating that development expectations in the region require sustained financial backing and coordinated institutional support.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Regional development initiatives<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Despite funding constraints, the Commission said it has recorded significant progress in preparatory and strategic planning activities aimed at transforming the South-East economy.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">It highlighted ongoing work on major infrastructure proposals, including gas pipeline and railway development projects designed to enhance regional connectivity and industrial growth.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The Commission also outlined its expanding network of institutional partnerships with organisations such as 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.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">These collaborations, it said, are intended to mobilise technical expertise, financing and policy support for long-term development initiatives across the region.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">SEDC also confirmed extensive engagements with stakeholders across government, academia, civil society and the private sector as part of a broader strategy to coordinate development interventions and avoid fragmented project delivery.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Vision 2050 and venture capital drive<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">A key milestone presented to the Senate Committee was the South East Vision 2050 stakeholder consultation, which brought together policymakers, business leaders, academics and development partners to design a long-term roadmap for regional transformation.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The Commission described the initiative as a foundational step toward building consensus around economic priorities and sustainable development pathways for the South-East.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">In addition, SEDC highlighted the successful rollout of its inaugural South East Venture Capital Programme (SEVCP), under which 25 startups received equity investment following a competitive selection process.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The initiative, anchored within the South East Investment Company, is aimed at strengthening entrepreneurship, innovation and access to early-stage capital, while attracting private investment into the region\u2019s emerging enterprise ecosystem.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">SEDC said the programme aligns with the Federal Government\u2019s broader economic agenda and is designed to stimulate job creation and private sector-led growth.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Commitment to oversight and delivery<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">Reaffirming its position, the Commission maintained that constructive engagement with the legislature remains central to its operational philosophy.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">It stressed that collaboration with oversight institutions is essential for building public trust, strengthening governance systems and ensuring effective use of public resources.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">The Commission also expressed appreciation to the Senate Committee for its continued engagement and oversight, noting that such interactions contribute to institutional improvement and policy alignment.<\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\">As Nigeria continues to prioritise regional development and economic diversification, the SEDC said it remains focused on delivering measurable impact across infrastructure, investment and human capital development in the South-East, despite prevailing fiscal constraints.<\/div>\n<div id=\"m_-7016112840337175696ymail_android_signature\" style=\"text-align: justify;\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>By Tracy Moses The South East Development Commission (SEDC) has reaffirmed its commitment to full cooperation with the National Assembly, following an interactive oversight session with the Senate Committee on&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":125949,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-127505","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SEDC Pledges Full Cooperation with Senate Oversight Committee - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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