Why I signed SEDC bill into law – Tinubu

…Says South East Region of Enterprise President Bola Ahmed Tinubu has said that his decision to sign the South East Development Commission (SEDC), Bill into law was driven by his conviction that the prosperity of the South East region is inseparable from the prosperity of Nigeria. The President made the disclosure at the the South East Gas Pipeline Infrastructure Investment Ceremony in Enugu on Tuesday.

It will be recalled that the President assented to the bill in July, 2024. Represented at the event by the Deputy Speaker of the House of Representatives, Rt. Hon. Benjamin Okezie Kalu, President Tinubu said the Commission was created to provide sustained institutional attention to the region’s reconstruction, rehabilitation and long-term development.

He said: “Our responsibility is to build upon that legacy. I have always believed that the prosperity of the South East is inseparable from the prosperity of Nigeria. When Aba’s industries thrive, when Nnewi’s factories expand, and when commerce flourishes in Onitsha, the entire Nigerian economy benefits. Nigeria cannot achieve its full economic potential while any region operates below its productive capacity.

This conviction is central to our Renewed Hope Agenda. It informed my decision to assent to the legislation establishing the South East Development Commission in July 2024”. The President further said the SEDC was established to be an institution of delivery and not just another bureaucracy. “The Commission was established to provide sustained institutional attention to the region’s reconstruction, rehabilitation and long-term development.

“I established the South East Development Commission to be an institution of delivery. We must measure its success by the investments it mobilises, the infrastructure it enables, the opportunities it creates, and the lives it improves”, he said. He commended the Chairman of the Commission, Dr. Emeka Wogu, the Board, and Management of the Commission led by its Managing Director and Chief Executive Officer, Mr.

Mark Okoye, for advancing what he described as an important initiative, noting that the South East Vision 2050 process, supported by the Federal Government and the Governors of the region, provides an important foundation for coordinated development. President Tinubu also disclosed that he has approved the South East Investment Company, explaining that his administration is adopting a model that leverages public resources to unlock private capital.

“We must use public resources strategically to unlock much larger pools of private investment. This is the model I expect from our development institutions: identify strategic economic opportunities, prepare credible projects, commit public resources responsibly and mobilise private capital at a scale government budgets alone cannot achieve,” he said.

Reassuring the people of the South East, the President said his administration remains committed to delivering critical infrastructure that will drive trade and create jobs in the region. “My dear people of the South East, we recognise the importance of modern roads, rail connections, reliable energy and efficient access to markets. Our administration continues to advance critical transport infrastructure, including the Enugu–Onitsha and Enugu–Port Harcourt corridors, the supporting infrastructure around the Second Niger Bridge and the Eastern railway corridor.

We know that much remains to be done. Our commitment is not simply to award contracts, but to deliver infrastructure that reduces costs, expands trade and creates jobs”, he said. The President added that the reforms introduced in the electricity sector are opening new opportunities for states and private investors to strengthen power supply in the region and across the country.

Speaking on the gas infrastructure, President Tinubu said that the proposed South East Gas Distribution Pipeline Project will help develop a regional gas distribution network that will serve industrial and commercial users across the five eastern States. “But today, our attention is on another vital foundation of industrial competitiveness: Natural gas.

Nigeria possesses substantial gas resources. Yet we must not measure those resources only by what lies beneath our soil. The true value of our gas is in the factories it powers, the jobs it creates and the prosperity it brings to our people. “With the Assa North–Ohaji South gas processing project in Imo State achieving first gas earlier this year, we have an important opportunity to connect domestic gas resources to productive industries.

The proposed South East Gas Distribution Pipeline Project seeks to do precisely that. “It aims to develop a regional gas distribution network serving industrial and commercial users across Imo, Abia, Anambra, Enugu and Ebonyi States. “Consider what this could mean: More competitive manufacturing in Aba. Stronger industrial clusters in Nnewi and Onitsha.

New investment and productive enterprises in Enugu. Grea