The commission disclosed this on Tuesday after appearing before the Senate Committee on South East Development Commission at the National Assembly.
Senator Orji Kalu, representing Abia North Senatorial District, chaired the session.
In a statement issued after the engagement, SEDC said it “used the opportunity to highlight progress made despite significant funding constraints,” adding that it had “advanced preparatory work on several strategic regional initiatives, including high—impact transformational projects such as the gas pipeline, railway projects.”
“Of the N140 billion appropriated to the Commission in the 2026 budget, less than 10% has been released to date across all budget lines,” the commission said.
SEDC called on the federal government to speed up releases of its budgetary allocations.
“The Commission emphasised that the scale of development required across the South East demands sustained funding, institutional coordination, and continued collaboration among all stakeholders,” the statement read.
Since its board was inaugurated in February 2025, the commission says it has made progress on multiple fronts.
This includes the South East Vision 2050 stakeholder consultations, which “brought together senior government officials, development partners, business leaders, academics, civil society representatives, and community stakeholders to develop a long-term framework for the economic transformation and sustainable development of the region.”
The commission also reported the launch of the inaugural South East Venture Capital Programme (SEVCP). Through “a transparent and competitive selection process, twenty-five startups from across the South East received equity investment under the Programme.”
The initiative was “designed to catalyse innovation, entrepreneurship, and investment across the region” and is housed within the South East Investment Company, which the commission said seeks to build “a more structured and credible venture capital ecosystem for the South East.”
The SEDC also listed 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 among its partners.
The Senate Committee had asked for additional documentation on the commission’s operations and budget performance. The SEDC has until 23 June 2026 to submit the materials.
The commission said it “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.”
The development commission covers Abia, Anambra, Ebonyi, Enugu, and Imo States. Its mandate includes infrastructure development and post-conflict reconstruction across the South East.
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