The Nation Newspaper

Category: South East

  • South-East Investment Company: A Renaissance for Igbo enterprise and Nigeria’s economic future

    South-East Investment Company: A Renaissance for Igbo enterprise and Nigeria’s economic future

    By Jerrywright Ukwu

    The recent approval by President Bola Ahmed Tinubu for the establishment of the South-East Investment Company (SEIC) marks a historic turning point not only for the South-East geopolitical zone but for Nigeria’s economic evolution. With an ambitious capital base of over ₦150 billion, this federal-backed investment vehicle has the potential to reignite the industrial vigour of the Igbo people, open new frontiers for development, and solidify the South-East as a new epicentre of prosperity in Africa.

    This bold initiative, championed under the leadership of Mr. Mark Okoye, managing director of the South-East Development Commission (SEDC), reflects deep foresight and strategic clarity. Okoye’s statement that “SEIC is more than a financial vehicle. It is a long-term strategy to unlock private capital, de-risk investment, and deliver sustainable economic growth for the South-East” could not be more accurate. It is a declaration of purpose rooted in economic history and charged with the responsibility of shaping the future.

    SEIC is, in many ways, a rebirth. It draws inspiration from the Eastern Nigeria Development Corporation (ENDC) of the 1960s, which under Dr. Michael Okpara, transformed the Eastern Region into one of the fastest-growing economies in Africa. Then, regional planning, industrialisation, and agricultural expansion placed the East in global economic conversations. The SEIC signals the return of that visionary model and aligns with modern economic instruments such as hybrid bonds, equity participation, and callable capital structures.

    But this time, it is not just about reviving old glory. It is about building a diversified, competitive, and inclusive economy that aligns with the aspirations of a new generation of South-East entrepreneurs, technologists, manufacturers, and professionals.

    READ ALSO: Yahaya Bello weds fourth wife in private ceremony

    The establishment of SEIC is not just an economic intervention, it is a socio-political statement. For too long, the South-East has felt marginalised in the national economic conversation. This investment company gives the region a sense of inclusion, dignity, and strategic importance. By attracting capital, funding infrastructure, supporting entrepreneurship, and investing in education and innovation, SEIC becomes a catalyst for a new generation of economic giants. The South-East is already a cradle of small and medium-sized enterprises (SMEs), accounting for tens of thousands of jobs across Nigeria. SEIC will help these businesses access affordable capital, expand operations, improve visibility, and scale for global competitiveness. It will formalise informal trade, foster technological adoption, and create linkages between Igbo traders, diaspora investors, and global markets.

    Across Africa, similar initiatives have yielded transformative results. In Rwanda, the Rwanda Development Board (RDB) has helped the country become one of the fastest-growing economies on the continent. In Kenya, the Kenya Industrial Estates (KIE) has supported SMEs through finance and infrastructure since 1967, with notable impacts on rural industrialisation.

    Even in Morocco, the Moroccan Investment and Export Development Agency (AMDIE) has played a central role in positioning the country as an industrial hub in North Africa. These examples show that when investment is paired with strategic governance, the result is lasting, inclusive development.

    One cannot overstate the significance of Okoye’s vision in this project. His clarity of purpose, backed by years of experience in public finance and development planning, has brought SEIC from policy imagination to institutional reality. His work represents the best of a new generation of Nigerian public servants who are young, competent, and committed to progress and development.

    Likewise, President Bola Ahmed Tinubu deserves immense credit for demonstrating the political will to make this happen. In a time when national unity is fragile and economic pressures are high, Tinubu’s approval of SEIC sends a powerful signal that no region of the country will be left behind. This is statesmanship. This is progressive governance.

     Innoson Group chairman Innocent Chukwuma once said: “The day the South-East gets adequate infrastructure and investment support, Nigeria will feel it in GDP growth.”

    These are not just lofty words. They reflect a grounded reality that an economically empowered South-East is an economically stronger Nigeria.

    If implemented with transparency, equity, and strategic focus, the South-East Investment Company could catalyse the creation of hundreds of thousands of jobs, the formalisation of over 2 million informal businesses, massive inflows of diaspora capital, tech-driven industrial parks and manufacturing clusters.

    This initiative will give young people in the region reasons to stay, dream, and build. It will breathe life into rural communities. It will create new cities around economic opportunities. It will transform local governments into centres of innovation and commerce.

    The South-East has always had the talent, the grit, and the entrepreneurial energy. What it needed was structure. With SEIC, the federal government has answered that call. The challenge now is to deliver.

    This is not just an investment vehicle. It is a renaissance engine, and if managed properly, it will go down in history as the defining economic legacy of the Tinubu-led administration.

    Ukwu, a journalist, writes from Abuja. He can be reached at jerrywrightukwu.o@gmail.com.

  • Enugu community disowns ‘unlawful Igweship election’

    Enugu community disowns ‘unlawful Igweship election’

    The Eha-Ulo Community, Eha-Alumona in Nsukka local government area of Enugu State, has denounced and disassociated itself from what it called an illegal and unconstitutional election of the traditional of the community.

    The community, in a communiqué issued by Chief Paulinus Odo and Chief Richard Asogwa, President General and Secretary General of the community respectively, expressed surprise to see a viral video circulating on social media platforms, capturing a purported election on 5th July 2025, aimed at installing a traditional ruler of the community.

    While describing the election as a sham and “a mockery of our sacred traditional institutions”, the community viewed the action as an attempt aimed at installing an “Igwe” through illicit means.

    The communiqué read in part, “We, the leadership and duly recognized representatives of the Eha-Ulo Town Union, write to unequivocally denounce and disassociate ourselves from the brazenly illegal, unconstitutional, and deceitful charade recently staged by a micro-family faction within Amundi Village, falsely presented as an election of an ‘Igwe’.

    “This desperate and unlawful act, carried out by an inconsequential group acting far outside the bounds of legitimacy and communal consensus, constitutes a direct assault on the foundational values, customs, and governance structures of the Eha-Ulo and the broader Eha-Alumona Autonomous Community”.

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    The community therefore emphatically rejected and denounced “the purported election in its entirety. It is null, void, and of no effect whatsoever. It holds no legitimacy, recognition, or authority under the customs, laws, or structures of the Eha-Ulo community”.

    It stated that “The conduct of this illegitimate process is not only a betrayal of our sacred traditions but a deliberate attempt to sow discord, disrespect our heritage, and disrupt the communal peace and unity we have long safeguarded”.

    It also condemned in the strongest terms any and all individuals or groups seeking to hijack traditional leadership through covert, divisive, and unconstitutional means.

    The community insisted that it would hold accountable any person or group complicit in “this treasonable act” under the traditional laws and community statutes of the community, adding that it would not tolerate insubordination or mockery of its revered institutions.

    It therefore called on all traditional rulers, legal institutions, and governmental authorities-local, state, and national-to disregard “this fictitious process and to take immediate steps to prevent a breakdown of law and order, and ensure the integrity of our leadership structures is fully preserved”.

  • NURTW President hails Abia govt for reinstating union activities

    NURTW President hails Abia govt for reinstating union activities

    The National President of the National Union of Road Transport Workers (NURTW) Alhaji Musiliu Ayinde Akinsanya (aka MC Oluomo) has expressed gratitude to Abia Governor, Alex Otti, for reinstating the activities of the union in the state.

    The Abia State Government In a letter dated July 15, 2025, signed by the Commissioner for Transport, Chimezie Isaac Ukaegbu, clarified that the NURTW “is not banned from operating in Abia State” and is now “permitted to operate in all government-designated parks and terminals across the state.”

    The letter is titled: “Reinstatement and Operational Authority of the National Union of Road Transport Workers in Abia State.”

    Alhaji Akinsanya described the governor’s action as “visionary, inclusive, and bold move.”

    He said: “The development marks the end of a long and challenging period of absence, and we are especially grateful that after over three and a half years of being unable to operate in Abia State. Our union is now fully reinstated and authorized to function in all government-designated motor parks and terminals across the state.

    “We are immensely grateful to His Excellency for restoring our rights and dignity. This is a testament to your commitment to democratic governance and peaceful industrial relations.”

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    He thanked Dr. Ukaegbu for his administrative foresight and dedication to stakeholders’ engagement.

    According to the NURTW chief, special appreciation extended to the Special Adviser to the Governor on Labour Matters for his continued mediation and support throughout the reinstatement process.

    Akinsanya assured the Abia State Government of the union’s commitment to discipline, orderliness, and cooperation with all relevant agencies.

     “We see this reinstatement not just as a right restored, but as a responsibility to serve better. The union also pledged to align with the administration’s developmental agenda by ensuring safe, structured, and efficient transport services across the state. This is a new beginning for us in Abia, and we do not take it for granted. We’re promising to uphold professionalism and community service in all its activities,” he said.

  • Mbah mourns Buhari, hails ex-president’s forthrightness, patriotism

    Mbah mourns Buhari, hails ex-president’s forthrightness, patriotism

    Governor of Enugu State, Peter Mbah, has expressed deep grief over the passing of former President Mohammad Buhari, describing it as a colossal loss to the entire nation.

    Reacting to the sad development, Governor Mbah, in a condolence message personally signed by him on Sunday, described Buhari as one of the most patriotic and honest Nigerian leaders to have ever led the country.

    “President Buhari made his entrance into the Nigerian governance space in 1984 and 2015. On both occasions, his pedigrees of truthfulness, integrity and patriotism stood out. He demonstrated his unwavering commitment to the ideals of nationhood.

    “He was an embodiment of service and dedication to the fatherland. His life was a lesson to upcoming leaders that leadership is about the downtrodden and the vast number of people who need development.

    “His public service career was glittering and outstanding. His simplicity and forthrightness were virtues that endeared him to millions across Nigeria, and even beyond.

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    “Although he leaves behind a void that will be difficult to fill, there is much comfort in the fact that his life was an inspiration, and his vast legacies are engraved in the sands of time.

    “On behalf of the Government and people of Enugu State, I mourn the passing of this astute General, a committed patriot and a leader whose engaging persona was circumscribed round Nigeria and its people.

    “I offer my sincerest condolences to his immediate family, the Government and people of Katsina State, the Federal Government and the entire people of Nigeria,” he stated.

    Mbah prayed that Almighty God would grant the soul of the late president eternal repose.

  • Buhari: The passing of a mighty warrior

    Buhari: The passing of a mighty warrior

    By Femi Fani-Kayode

    “How are the mighty fallen in the midst of battle….how are the mighty fallen and the weapons of war perished!”- 2 Samuel 1:25-27.

    With yesterdays tragic passing it is clear that the last of the three great Mahdis and most formidable warriors and messianic leaders of Northern Nigeria has finally fallen. 

    The first was Sheik Usman Dan Fodio, who founded and established the Sokoto Caliphate, the second was Sir Ahmadu Bello, who was the erstwhile Premier of the old Northern Region and the Sardauna of Sokoto and the third was General Muhammadu Buhari, who was the immediate past President of Nigeria and the man that was commonly referred to by the Northern masses as ‘Mai Gaskiya’. 

    All three were reverred by their people and were regarded as not just pious and righteous men but also deeply courageous souls who would do anything in defence of their faith and who risked all in their fight against injustice and evil. 

    Yet Buhari managed to achieve what the others could not: he became the indisputable leader of not just the North but also of the whole of Nigeria and he did it THREE times!  

    His role in the affairs of our nation  transcended politics and veered into the spiritual. 

    In the North he was not seen as a mere political leader but more as a religion and his following was indescribable, unprecedented and massive. 

    He was a rare phenomenon and an intrguing enigma: a remarkable man and inspirational leader whose destiny was intrinsically intertwined with Nigeria’s. 

    He managed to achieve what no other Nigerian leader has managed to achieve in our entire history: the unflinching, unconditional, unquestioning and literally fanatical adulation and love of the whole of the core North and the support of many in the South. 

    Read Also: Nigeria’s history incomplete without Buhari- Ohanaeze

    He was indeed the first amongst equals and, love him or hate him, his legacy and commitment to the service of our nation has left an indelible mark.

    The question on everyone’s mind is who can possibly take up his mantle of Northern leadership today and who can fill into his gargantuan shoes? 

    Whatever the answer to those questions are one thing is clear, the North and indeed Nigeria shall NEVER be the same without him. 

    May the soul of this great, noble and proud warrior and patriotic son of Nigeria rest in peace and may God grant his family the fortitude to bear this loss. 

  • Delta bags Best State in Cybersecurity Leadership Award

    Delta bags Best State in Cybersecurity Leadership Award

    The Delta State Government has received the Best State in Cybersecurity Leadership Award from the National Information Technology Development Agency (NITDA).

    The programme with the theme, ‘Building A Resilient Digital Future,’ was organised by NITDA in  collaboration with the Office of the National Security Adviser, Federal Ministry of Communications, Innovation and Digital Economy held at the Abuja Continental Hotel, Abuja.

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    Presenting the Award yesterday,  Director, Cybersecurity Department, NITDA, Dr. Lawan A. Mohammed, said the honour was in recognition of the relentless pursuits of the Delta State’s efforts in exemplary leadership in cybersecurity governance, infrastructure development, and cybersecurity awareness evidence in the state level in ensuring that people embrace digital technology.

  • NB reiterates commitment to honouring invaluable contributions of teachers

    NB reiterates commitment to honouring invaluable contributions of teachers

    The Managing Director, Nigerian Breweries Plc, Hans Essaadi, has reiterated the company’s steadfast commitment to honouring the invaluable contributions of teachers.

     Essaadi who expressed profound gratitude to both lead and supporting sponsors of the 11th edition of Nigerian Breweries-Felix Ohiwerei Education Trust Fund Maitina Teacher of The Year, which include: Union Bank of Nigeria Plc, Air Peace, and First City Monument Bank for their consistent support and belief in the project, noted that the partnership has significantly helped to sustain and grow the initiative year after year.

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    While appreciating the Nigeria Union of Teachers (NUT), the Teachers Registration Council of Nigeria (TRCN), and the All Nigeria Confederation of Principals of Secondary Schools (ANCOPSS) for treading the path with NB-Felix Ohiwerei Education Trust Fund, he stated that their support has been vital in ensuring the credibility and reach of the competition.

  • ‘Tinubu will fulfill ideals offairness creating Anioma State’

    ‘Tinubu will fulfill ideals offairness creating Anioma State’

    President Bola  Tinubu will be fulfilling the ideals of fairness, inclusivity, and nation-building—principles when he creates Anioma State, a public affairs analyst, Fred Akpewe, has said.

    Akpewe, in a statement noted that in the ever-evolving political landscape of Nigeria, legacies are not only built through speeches and policies, “they are carved into history through bold actions that shape the future of generations. For President Bola Ahmed Tinubu, the creation of Anioma State stands as a monumental opportunity to etch his name into the chronicles of national unity, equity, and justice.

    “Anioma, a region rich in culture, resources, and human capital, has long yearned for recognition as a distinct state within Nigeria’s federal structure. Despite its historical contributions and strategic relevance, it has remained marginalized in the conversation of state creation. Now, under Tinubu’s administration, the call for Anioma State has not only gained momentum but has also become a symbol of long-overdue justice for a people whose identity has often been overshadowed.”

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    He emphasized that “President Tinubu, a seasoned political strategist and champion of restructuring, understands the importance of balancing Nigeria’s diversity with equitable representation. By endorsing and actualizing the creation of Anioma State, he would be fulfilling the ideals of fairness, inclusivity, and nation-building—principles he has long advocated.

    “The creation of Anioma State would resolve long-standing issues of political imbalance in Delta State, address administrative inefficiencies, and empower the Anioma people to fully harness their potential. More importantly, it would set a precedent for addressing other genuine demands for state creation across Nigeria, thus reinforcing Tinubu’s image as a reformer who listens, understands, and acts.

  • Elepa Oil Field dispute: Three Bayelsa communities agree to govt’s peace initiative

    Elepa Oil Field dispute: Three Bayelsa communities agree to govt’s peace initiative

    Three feuding communities locked in legal battle over ownership of Elepa 1 and 2 oil wells have agreed to a decision reached by the Bayelsa government to ensure peace and security in the area.

    The communities claiming ownership of the Elepa Oil Fields being operated by the Renaissance Africa Energy Company Limited, formerly Shell, are Elepa, Nembe and Egweama in Nembe and Brass Local Government Areas of the state.

    Addressing stakeholders of the communities at a meeting in Yenagoa, Bayelsa capital on Thursday, the Deputy Governor, Senator Lawrence Ewhrudjakpo said government had endorsed the sharing formula recommended by the Irorodamie Komonibo-led Committee set up last year to mediate on the matter.

    Ewhrudjakpo said the terms of agreement  ceded 40 percent of all royalties, employment slots and contractual jobs from Renaissance Africa Energy Company to Elepa, while Egweama and Nembe were allocated 30 percent  each.

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    He directed that the three contractors engaged under the company’s Free To Operate (FTO) system for the supply of tug boats, swamp buggy, and crew boats should come under one contract and share the profits accordingly based on the sharing formula.

    He commended the level-headedness of leaders and stakeholders of the area, adding that the government’s position was informed by its overriding interest  to ensure peace among the feuding  communities.

  • Bonga oil spill: Akwa Ibom, Rivers, Balyesa, Delta, Ondo fishermen seek Tinubu’s intervention over $3.5b Shell award

    Bonga oil spill: Akwa Ibom, Rivers, Balyesa, Delta, Ondo fishermen seek Tinubu’s intervention over $3.5b Shell award

    Members of the Artisan Fishermen Association of Nigeria in Niger Delta have urged President Bola Tinubu to compel the Shell Nigeria Exploration and Production Company Limited to pay $3.6 billion awarded to them as compensation for the 2011 Bonga oil spill.

    The fishermen, in a petition titled ‘Save Our Soul’, obtained by the NATION in Akure, Ondo State capital, released on Saturday, said it was the resolution of the group that President Tinubu help intervene in ensuring Shell was made to fulfill the financial obligation. 

    According to the copy of the petition jointly signed by Alexander Mesogboriwon, Jeremiah Omogbemi, Olamiyeye Jeje, Anthony Erejuwa and, Erukubami Durojaye, they lamented that the oil spillage had contaminated kilometers of fishing coast line of Akwa-Ibom, Rivers, Balyesa, Delta and Ondo States. 

    The concerned fishermen, who noted that they had always pledged their support for the Renewed Hope Agenda of President Tinubu in re-building the nation for development, the oil spillage had foisted further hardship, forcing them to suspend fishing activities and trade on the coastal waters. 

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    “Your excellence, it is on the basis of the renewed hope initiated by your administration that we, as one of the hopeless and the defenceless association forward this petition to your exalted office to prevail upon Shell Development Company Nigeria Limited to pay compensation to our members and the affected Communities by the BONGA oil spill.

    “The oil spillage occurred on 20th December, 2011 at the BONGA floating production storage -and offloading platform owned and operated by Shell Petroleum Development Company Nigerian Limited as a result of equipment failure when loading petroleum products from their facility which leaked into sea with over 40,000 (forty thousand) barrel of crude oil. 

    “Your excellence, the spill spread and contaminated kilometers of fishing coast line of Akwa-Ibom, Rivers, Balyesa, Delta and Ondo States, as a result of the high current tide in the sea  causing the crude to spread on the high sea, consequence upon which National Oil Spill Detection Response Agency (NOSDRA) gave Direction to move away from the high sea with immediate effect and suspend fishing activities which our members obeyed,” the petition read. 

    Recalling that several letters had been written to both the SPDC and NOSDRA, the fishermen reminded the President that a public hearing was conducted by the National Assembly where an award of $3.6 billion by way of compensation was made directing Shell Petroleum to pay the affected people. 

    They, however, further pleaded with President Tinubu to compel the Shell Petroleum Development Company Nigeria Limited to pay them the sum of $3.6 billion as awarded.

    “Your excellence, we want you to use your good offices to direct NOSDRA and the office of Attorney General and Minister for Justice to enforce sanctions on the $3.6 billion against SPDC as directed by the National Assembly,” it added. 

    On December 20, 2011, the Bonga Oil spill occurred during Shell’s exploration activities in OML 118, located 120 kilometres off Nigeria’s coast in the Gulf of Guinea. 

    The rupture of Shell’s export line connected to the Float Production Storage and Offloading (FPSO) vessel led to the release of approximately 40,000 barrels (6.4 million litres) of crude oil into the sea, affecting the communities across the Niger Delta. 

    In response to the spill, NOSDRA imposed a $1.8 billion compensation for environmental damages and loss of income on affected communities and another $1.8 million as a punitive penalty. The liability totalled $3.6 billion.