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Senate Okays ₦140bn SEDC Proposal, Warns on Fiscal Discipline

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By Eze Okechukwu, Abuja

The Senate has endorsed the proposed ₦140 billion 2026 budget of the South East Development Commission (SEDC), while issuing strong warnings on fiscal discipline, measurable security outcomes and urgent ecological intervention across the region.

The budget was presented by the Managing Director/Chief Executive Officer of SEDC, Mr.

Mark Okoye, who outlined a development-driven financial plan anchored on infrastructure renewal, industrialisation, private sector-led growth and regional integration.

The budget breakdown
Of the ₦140 billion proposal shows
₦106.745 billion (76.25%) is allocated to capital expenditure, ₦25.

955 billion (18.54%) to recurrent expenditure (excluding personnel) and ₦7.3 billion (5.21%) to personnel costs

The Commission stated that the 2026 budget is structured around five strategic pillars: infrastructure development, economic empowerment, environmental sustainability, social development, and security/peace building.

In his presentation, the MD unveiled a long-term roadmap to build a $200 billion South East economy by 2035, revealing that central to this vision is the establishment of a proposed South East Investment Corporation (SEIC), projected to drive a $150 billion capital base and position the region as Africa’s preferred investment destination.

He disclosed that the Commission is targeting a $1 billion regional investment threshold and intends to structure major infrastructure projects to attract international financing rather than rely solely on federal allocations.

Although the 2025 fiscal year recorded zero capital releases, Okoye explained that the Commission utilised the period to prepare feasibility studies and “bankable documents” to drive large-scale projects, including a proposed regional gas pipeline network estimated to cost between $1.5 billion and $2 billion.

Key Allocations in the 2026 Proposal
Notable provisions include:
Community Social Development Programme – ₦3.3 billion
South East Venture Capital Fund – ₦3.5 billion
Youth Entrepreneurship Programme – ₦2.5 billion
Grassroot Recreation Infrastructure – ₦7 billion
Headquarters and Zonal Offices Setup – ₦2.9 billion
Operational Vehicles – ₦4.1 billion
Climate Sustainability and Green Economy – ₦500 million
Regional Security Programme – ₦2.5 billion
M.I. Okpara Fellowship (Leadership Development) – ₦660 million

While commending the clarity and ambition of the proposal, lawmakers raised concerns about spending priorities and measurable impact.

Senator Tony Nwoye stressed that without security, development efforts would not yield meaningful results. He demanded clarity on how the ₦2.5 billion Regional Security Programme would translate into visible improvements, especially in areas severely affected by insecurity. He also sought details on collaboration mechanisms with existing security agencies.

On the ₦3.5 billion South East Venture Capital Fund, Nwoye warned against politicisation, insisting it must operate strictly on merit to support genuine innovators in commercial hubs such as Onitsha, Aba and Nnewi.

Environmental sustainability drew sharp criticism, with lawmakers describing the ₦500 million allocation as grossly inadequate for a region battling thousands of erosion sites, often referred to as Nigeria’s erosion epicentre. Senators urged the Commission to prioritise life-threatening ecological challenges.

Senator Kenneth Eze urged the Commission to treat public funds with the discipline of a private enterprise. While praising the Managing Director’s strong presentation, he cautioned against spreading limited resources across too many projects, warning that such an approach could lead to abandoned initiatives.

He advised management to match projects strictly with available resources and focus on realistic, measurable outcomes rather than excessive stakeholder engagements and conferences.

In his remarks, Senator Victor Umeh described the proposal as visionary and aligned with the historic economic revival model of the South East, expressing confidence in the management team once funds are released.

For the Chairman of the Senate Committee and former Abia State Governor, Orji Uzor Kalu, he commended the management for presenting what he described as a “bankable document” capable of attracting global financing institutions.

He emphasized that the Commission was established as a development institution, not a political platform, and reiterated that it was entrusted to the region by President Bola Ahmed Tinubu.

“Our rules are simple. Compliance, oversight and feedback. This Committee will be ruthless in oversight. We will not look at anybody’s face. This Commission must not be a place for siphoning money. It must rekindle hope and drive economic development,” Kalu said.

He encouraged transparency, collective leadership among executive directors and readiness for oversight visits. He also defended the preparatory feasibility studies, describing them as essential groundwork for attracting institutions such as the World Bank and Afreximbank and for integrating projects into national borrowing frameworks.

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POLITICS

How El-Rufai Was Expelled From SDP – Adebayo

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By Mike Odiakose, Abuja

The 2023 presidential candidate of the Social Democratic Party (SDP), Prince Adewole Adebayo, has explained the circumstances that led to the expulsion of former Kaduna State governor Nasir El-Rufai from the party, while also distancing the SDP from several prominent politicians now positioning themselves in opposition ahead of the 2027 elections.

Speaking during a recent interview, Adebayo said El-Rufai’s problems with the party began shortly after the former governor publicly announced that he had joined the SDP.

According to him, party officials at the ward, local government and state levels reportedly had no record of El-Rufai’s registration when they began inquiries following the announcement.

“The ward complained that they saw him on television saying he had joined the party, but they had not seen him register,” Adebayo said, adding that investigations by the national leadership revealed irregularities in the membership process.

He claimed that El-Rufai obtained a membership card independently and created a separate register rather than completing the proper registration procedure through the party’s grassroots structure.

The SDP leadership, he said, initially attempted to resolve the issue by asking the former governor to regularise his membership through the appropriate channels.

However, Adebayo alleged that tensions escalated when El-Rufai began holding meetings with national officials and making public pronouncements on behalf of the party.

He also claimed that the former governor pushed for the admission of a coalition of politicians into the SDP without undergoing the party’s internal screening process.

Party officials eventually disciplined El-Rufai after he allegedly ignored repeated warnings to follow the party’s rules, leading to his expulsion.

Beyond El-Rufai’s case, Adebayo criticised what he described as attempts by members of Nigeria’s “old political establishment” to regroup under opposition platforms ahead of the 2027 elections.

He mentioned figures such as former Attorney-General Abubakar Malami and former Senate President David Mark, arguing that many politicians now presenting themselves as opposition had previously spent years in government without addressing the governance challenges they currently condemn.

According to Adebayo, the SDP would not align with such figures if doing so undermines the party’s push for a political reset in the country.

“Our position is that Nigerians need a clean break from the past,” he said, adding that the party intends to build a movement driven by ordinary citizens rather than alliances among political elites.

Adebayo maintained that the SDP’s focus ahead of the 2027 election would be on mobilising voters and presenting what he described as a credible alternative to the current administration led by President Bola Ahmed Tinubu.
End

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POLITICS

2027: Tinubu’s Reforms ‘ll Earn Him Second Term – Adeola

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Senator representing Ogun West, Solomon Adeola has

expressed optimism that President Bola Tinubu’s performance and reforms would earn him a second term in the 2027 general elections.

Adeola spoke at the annual Ramadan lecture and prayers organised by the Ogun West Muslim Community, held in Ilaro on Tuesday.

He lauded the people of Ogun for supporting Tinubu’s administration with prayers, especially during the Ramadan period.

He noted that the gesture is a reflection of the people’s appreciation of the leadership and development initiatives of the president.

According to the senator, Tinubu has shown strong commitment to repositioning the country through various reforms introduced since assuming office.

He added that the president has demonstrated purposeful leadership and determination to put the nation on the path of sustainable growth and stability.

Adeola maintained that the continuous prayers and support from Nigerians would further strengthen Tinubu’s resolve to implement policies aimed at national development.

The lawmaker also commended Gov Dapo Abiodun for his efforts in developing Ogun state since assuming office as governor.

He said the governor’s developmental strides across sectors has positively impacted the lives of residents in the state.

“I want to appreciate the people of Ogun West for coming out enmass to pray for president Bola Tinubu, and Gov. Dapo Abiodun for what they have been doing.

“The president has done extremely well in repositioning the nation. The prayers and the good job of the president will earn him a second term in office in 2027,” he said.

The Guest Lecturer, Sheikh Jamiu Sanusi (Amin Olorun), in his lecture, urged Nigerians to remain committed to good deeds, noting that every action attracts a corresponding reward.

Sanusi, who focused his lecture on humanity, stressed that whatever individuals do to others would ultimately return to them.

According to him, the principle of reward for actions should guide people’s conduct toward one another and the society at large.

The lecturer also warned against betrayal, urging residents of Yewa to remain united and work for the collective interest and development of their community.

He prayed for God’s blessings upon the Federal Republic of Nigeria and the president, while also calling for greater commitment to supporting the younger generation who represents the future of the community.

In an interview at the sideline of the event, the Minister of State for Health and Social Development, Iziaq Salako, said the Muslim community is satisfied with the policies of the renewed hope administration of Tinubu.

Salako said that the support and prayers offered by the community reflected their confidence in the government, adding that with continued faith and cooperation from Nigerians, the administration would steadily deliver on its promises.

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POLITICS

Labour Party Promises Social Justice, Equal Opportunities for Nigerians – Usman

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The Interim National Chairman of the Labour Party (LP) Sen. Nenadi Usman, said the party is poised to provide social justice and equal opportunities for Nigerians.

Usman said this at the unveiling of the Labour Party’s Online Registration Portal on Monday in Abuja.

She said the party had learnt lessons from previous elections, adding that the ongoing electronic registration would address earlier challenges.

“The party aims to ensure that grassroots members and union affiliates are actively involved in elections, improving transparency and accountability,” Usman said.

Usman assured that the party would meet the timeline in the Electoral Act, 2026, for submission of its digital membership register to the Independent National Electoral Commission (INEC).

“This is an opportunity to enable all Nigerians, at home and abroad, to register as bona fide members without traveling to physical offices.

“Registrants will select their home states, ensuring that membership records are accurate and verifiable.

“Members can register from anywhere and download their membership cards,” she added.

Usman disclosed that the registration portal had been tested and earlier technical issues resolved.

She added that registration on the platform was free and did not require any payment.

Usman urged Nigerians to visit the portal, complete their registration and print their membership cards.

“The Labour Party aims to finalise the registration process swiftly, enabling preparation for the 2027 elections.

“The focus is on grassroots mobilisation, ensuring active participation and strengthening the party’s infrastructure nationwide,” she said.

Usman also said the portal was equipped with security features to protect it from cyber-attacks.

Speaking on alleged factions, a member of the Board of Trustees, Comrade Lawson Osagie, said there was no division in the party.

Osagie said the Labour Party remained guided by the Supreme Court judgment on its leadership.

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