Deputy Speaker of the House of Representatives, Hon. Benjamin Kalu, has disclosed that the release of funds for the South East Development Commission (SEDC) has been delayed but will be done soon.
Kalu made this known during an interview on Channels Television’s Political Paradigm, where he spoke on the progress made so far regarding the commission.
“Where we are is implementation, release of funds, which is a general problem,” Kalu said. “The fund is going to come when others are coming, and in a few days, a few weeks, the agency will have funds to begin to activate the dreams of the region.”
According to him, the SEDC was created to address what he described as “Reconstruction, Reintegration and Reconciliation” which were promised to the South East after the civil war but were never fully carried out.
“You know, Southeast passed through a civil war. Even though the history books are no longer talking much about it, which is not right because we have to learn from history, for it does not repeat itself,” he stated.
Kalu explained that the failure to implement the three Rs deepened bitterness in the region for decades, making the commission an essential tool for healing and development.
He also revealed that the National Assembly passed the SEDC bill with bipartisan support, and the president signed it into law because of his commitment to the growth of the South East.
The Deputy Speaker highlighted that the commission would focus on sectors such as agriculture, power, infrastructure, technology, and commerce, while also tackling insecurity through economic empowerment.
Kalu further announced that the president had approved the establishment of the South East Investment Company (SEIC) to attract diaspora and private equity investments to support regional rebuilding and economic growth.