Politics
THE South East Development Commission (SEDC) says it will submit comprehensive procurement, contract and financial records to the Senate Committee investigating its activities, affirming its commitment to transparency and accountability.
The commission stated this in a response to concerns raised over its expenditure and project implementation, noting that all transactions were undertaken within approved procedures and in line with its statutory mandate.
SEDC said it would provide procurement records, contract details, payment schedules and supporting financial documents to the committee on or before June 23, 2026.
According to the commission, the documents will offer a complete picture of its operations and stewardship of public resources.
The commission explained that, beyond administrative and institutional development, it had embarked on several strategic initiatives aimed at accelerating economic transformation in the South-East region.
It said these included feasibility studies and due diligence for priority regional projects, including a proposed gas infrastructure partnership with significant industrial and energy implications for the region.
SEDC also highlighted its participation in the Intra-African Trade Fair in Algeria, which it said had opened discussions with Afreximbank on establishing a Project Preparation Fund to support investment-ready projects across the South-East.
The commission further cited the South East Vision 2050 Stakeholder Forum and the launch of the South East Venture Capital Programme as key milestones achieved within the review period.
According to SEDC, the venture capital initiative has already provided funding support to 25 startups across the region.
The commission reiterated its commitment to cooperating with constitutional oversight institutions and expressed confidence that a review of all relevant documents would clarify issues surrounding its expenditures and programmes.
SEDC was established to drive economic transformation, infrastructure development, investment mobilisation and regional prosperity across the South-East.
Tags: SEDC