Managing Director and Chief Executive Officer of SEDC, Mr. Mark Okoye
Since the creation of this South East Development Commission (SEDC), performance or activities of the commission are hardly read about or heard in the news and this has been a very big issue especially for followers who are willing to track the activities of the commission.
With a budget of N150Billion since the establishment of the commission, south easterners have been founding it difficult to see any project either started ro completed in any part of the five south east states.
The Director General, Mr. Mark Okoye hardly speak out or address the media on his activities and this has created much rooms for suspicion on his real mission in the commission whether it is to develop the region or serve as a conduit for the powers that be against the collective interest of the region.
Analysts say the act of regular conference, Symposium, Events, PowerPoint slide, Media Run etc are never why SEDC was set up.
A Facebook post recently said “Oga they gave you N150Billion.. SEDC that they set up for over one year.. Not one single project or development have been done.. Do you know what Development commission means..”
You divide your focus areas into 7 sectors.
1.) Education
2.) HealthCare
3.) Tech
4.) Industrialization
5.) Security
6.) Agriculture
7.) Housing & Shelter
8.) Tourism Development..
Another angrily averred as follows: “With N150Billion – you put it in Sukuk or Bonds.. Get 10-20% return yearly.. that’s N15billion.. South East only has 5 States – N3billion invested in each state.. Create a Rice Mill Production Zone in Ebonyi.. Create multiple Saw Mill factories in Ebonyi.. Create a Museum of Local Arts (MOLA) in Imo state – ask artisans to send their artifacts and buy it to be displayed, Create the biggest Cassava farm in Abia State..
“Build a Technical school that will teach South easterners Artisan Job like Mechanic, come and see Artisan schools in USA.. build a Nollywood Studio in Enugu – like that of Tyler Perry.. Create a South East Development Fund and we south easterners will invest into the fund cos we see the progress you are making..
Another also posted saying “In your case, every time.. it’s some conference or the other.. Men get on with your job.. this is just annoying..”
A review of over 100 posts on SEDC activities since inception showed that followers of the commission are not happy on the way and manner Mark Okoye is running the commission.
Business Hilights.ng recalls that the establishment of the South-East Development Commission (SEDC) has ignited a mix of optimism and skepticism across Nigeria. As the country’s latest effort to address the historical neglect and marginalization of the South-East region, the SEDC’s success hinges on its ability to navigate the complexities of bureaucratic inefficiencies, political interference, and funding uncertainties. With its ambitious goals of driving development, promoting economic growth, and fostering social integration, the SEDC has the potential to transform the region.
The Commission was officially established on 24 July 2024, when President Tinubu signed the bill into law, marking a historic milestone for the region. Its Board was inaugurated on 12 February 2025, signalling the beginning of operations aimed at addressing decades of post-war neglect and fostering regional growth.
Mr. Mark Okoye, a young and dynamic leader, who was expected to apply youthful vigour to run the Commission was been appointed as the Managing Director and Chief Executive Officer of SEDC.
Okoye, formerly the MD/CEO of the Anambra State Investment Promotion and Protection Agency (ANSIPPA) and a former Commissioner under Governor Willie Obiano, is recognised for his exceptional track record in public service and economic development.
Yet, no meaningful project can be traced to SEDC in the last one year.
There was a recent project called the South East Venture Capital Program (SEVCP) being introduced by the commission which SEDC said it is an initiative the Commission designed to unlock Venture Capital, support high-potential founders, and catalyse long-term economic growth across South East Nigeria. Through the creation of a $50 million blended finance Venture Capital Fund, the program addresses the capital and ecosystem gaps facing startups in the region while strengthening the broader digital, innovation, and technology ecosystem.
Up till now, nothing is happening in the so called initiative.
A report on the Commission’s website on what looks like project said “The first phase of the SEVCP Pitch Competition attracted a diverse and high-quality pool of founders building across fintech, agritech, SaaS, commerce, logistics, and other critical sectors.
“We acknowledge the time, effort, and ambition demonstrated in each application submitted.
“Given the scale of participation and the standard of submissions received, this document outlines the evaluation process, the criteria used, and the key considerations that informed progression to the next stage.
Nobody knows the next stage and when it will start or end.
It is important to know that the commission is tasked with driving development in the Southeast states—Abia, Anambra, Ebonyi, Enugu, and Imo. Its mandate includes reconstructing war-damaged roads and houses, tackling ecological challenges, and unlocking the region’s latent commercial potential. None of this has been done and there is nothing showing that it is in the Commission’s plan in their website.
The key objectives of the SEDC include investments in agriculture, manufacturing, and technology to stimulate entrepreneurship and job creation. Infrastructure development is another major focus, for building roads, railways, and energy facilities to enhance connectivity and spur trade. Social integration is also prioritised, with initiatives promoting dialogue, reconciliation, and youth empowerment to strengthen unity.
Again, none of these are being addressed upon the allocation of N150b in the last one year.
