SEBIS Urges United Action to Revive South-East as Nigeria’s Economic Powerhouse

The South-East Business and Investment Summit (SEBIS) has called for a unified effort from stakeholders, investors, and the government to address the region’s socio-economic challenges and restore its status as a major economic powerhouse.

Speaking during a road show and town hall meeting at the All Saints Cathedral, Onitsha, on Monday, the Executive Secretary and Chief Executive Officer of SEBIS, Dr. Ifedi Okwenna, lamented that the South-East, once a thriving economic hub, lost its momentum due to poor leadership and lack of structured coordination.

Okwenna noted that before 1978, the region had been developing at a rate of 9.2 percent annually and could have evolved into a formidable economic force if that growth trajectory had continued.

Addressing participants under the theme “Remaking South-East as an Economic Powerhouse,” Okwenna urged regional leaders, investors, and professionals to “take the bull by the horns” and work collaboratively to rebuild and re-energise the South-East economy.

He explained that the summit seeks to confront the region’s pressing socioeconomic and infrastructural challenges through a multi-stakeholder dialogue between the public and private sectors. According to him, similar engagements will be held across the five South-East states to foster collaboration, share insights, and set actionable agendas for transforming the region’s business and investment climate.

Okwenna also advocated for stronger partnerships with the Federal Government, including the reopening of the Ikom–Cameroon border to enhance cross-border trade and economic activity.

“We want businesses, the middle class, and investors to work together to remake the South-East. While we won’t depend solely on the government, we must partner with it to drive meaningful development,” he stated.

He identified key sectors such as agriculture, information technology, energy, the creative industry, MSMEs, and sports as critical areas through which the region can rebuild its economic base.

Delivering the keynote address titled “Unlocking South-East Potential: The Critical Role of Infrastructure in Rebuilding the Regional Economy,” former Minister of Power and current Vice-Chancellor of the University of the Niger, Prof. Chinedu Nebo, emphasised the importance of infrastructure and energy in driving sustainable growth.

Nebo underscored the private sector’s vital role in leading the region’s development agenda, noting that the summit aims to develop practical strategies for achieving economic stability, inclusive growth, and long-term resilience in the South-East.