Vice President Shettima Launches Economic Vision 2050 for the South-East

On Wednesday, Vice President Kashim Shettima unveiled a long-term development framework called South-East Vision 2050, emphasizing the vital role of the region in Nigeria's economic landscape.

He revealed that President Bola Ahmed Tinubu had sanctioned the formation of the South East Investment Company Limited. This new entity is tasked with attracting financial resources from the diaspora, capital markets, and development financial institutions to boost the area's development efforts.

During the South-East Vision 2050 Regional Stakeholders’ Forum held in Enugu, Shettima remarked that this initiative signifies a transition from short-term governance to a comprehensive, multi-decade development strategy.

He explained that this investment firm would collaborate with the South-East Development Commission (SEDC) to address the infrastructural deficits resulting from past conflicts and bolster long-term competitiveness.

"This is not just another cumbersome bureaucracy. It is a proactive institution aimed at enhancing employment, productivity, and growth," he asserted, underscoring Nigeria's potential when its regions prosper.

The Vice President commended the forum's inclusive approach, which united federal and state governments, traditional leaders, private sector representatives, civil society, and development allies.

He recognized the contributions of Umu Igbo Unite, a network of over 10,000 young professionals based in the United States, emphasizing the collaborative effort required to shape the South-East’s future both locally and internationally.

Earlier, Enugu State Governor Peter Mbah expressed that Vision 2050 would align the region with the national development framework projected for 2060.

He applauded the solidarity exhibited by South-East leaders and suggested the creation of a regional common market, describing the moment as the emergence of an economic powerhouse.

Abia State Governor Alex Otti welcomed the unified endorsement of the blueprint, viewing it as pivotal for the region's economic change.

Anambra State Governor Charles Soludo expressed gratitude to President Tinubu for instituting the SEDC, referring to it as a significant and overdue intervention.