The North East Development Commission (NEDC) has unveiled a landmark multi-billion naira investment package aimed at accelerating economic growth and transforming the North-East into a hub for commerce, innovation and sustainable development.
The investment package, described as one of the largest ever approved by the Commission, marks a strategic shift from post-insurgency recovery and reconstruction to long-term economic expansion through investments in renewable energy, transportation, healthcare, industrialisation, enterprise development and regional connectivity.
Speaking at the NEDC Governing Board meeting and a press conference in Abuja on Thursday, the Commission’s Managing Director and Chief Executive Officer, Mohammed Goni Alkali, said the approvals signal the commencement of the “Expansion and Sustainable Growth” phase of the North-East Stabilisation and Development Master Plan (NESDMP).
According to Alkali, the Commission has laid a solid foundation for recovery over the years through investments in infrastructure, education, healthcare and humanitarian interventions and is now focusing on creating sustainable economic opportunities across the region.
“The North-East is no longer defined by its past but by the promise of its future,” he said, adding that the Commission is creating the conditions for industrialisation, private sector investment, job creation and inclusive economic development.
At the centre of the new investment drive is a ₦100 billion commitment to develop a 50-megawatt solar mini-grid programme to provide reliable electricity to homes, schools, hospitals, markets, agricultural clusters and industries across the six North-East states.
Alkali said the initiative builds on the success of the Commission’s “Light Up the North-East” project, under which more than 100,000 solar-powered streetlights have been installed to enhance security and extend commercial activities across communities.
To improve regional integration and stimulate economic activities, the Governing Board also approved plans to advance the proposed North-East Railway Project, expected to enhance passenger and freight transportation, reduce logistics costs, strengthen agricultural value chains and facilitate regional trade.
The Board further endorsed the establishment of a North-East Regional Airline to improve connectivity, facilitate business travel, promote tourism, strengthen emergency response operations and attract investment to the region.
In a move aimed at positioning the North-East as a leader in clean transportation, the Commission also approved the rollout of its Electric Vehicle (EV) Programme.
The initiative will begin with the deployment of 300 electric taxis, minibuses and larger buses as part of a phased rollout of more than 10,000 electric vehicles, supported by charging infrastructure and maintenance facilities.
Alkali said the programme would modernise public transportation while creating thousands of green jobs for engineers, technicians, mechanics, ICT professionals and transport operators, as well as promote technology transfer and local technical expertise.
The Commission also approved the establishment of a ₦30 billion NEDC–Bank of Industry (BOI) MSME Development Fund to provide affordable financing, business development support and capacity-building programmes for micro, small and medium-sized enterprises, particularly those owned by youths and women.
According to him, the fund is expected to stimulate entrepreneurship, generate employment and strengthen local industries across the region.
Healthcare featured prominently in the Commission’s development agenda, with the approval for the procurement of eight state-of-the-art 1.5 Tesla helium-free Magnetic Resonance Imaging (MRI) machines, as well as CT scan machines, digital X-ray systems, mammography equipment and dialysis machines for deployment across the six North-East states.
The investment package also includes the upgrade of the Borno Eye Hospital into a modern ophthalmic centre and the establishment of a fully equipped Fertility Centre at the University of Maiduguri Teaching Hospital to improve access to specialist healthcare and reduce medical tourism outside the region.
To ensure effective implementation of the projects, the Commission announced strategic partnerships with the United Nations Industrial Development Organization (UNIDO), the United Nations Development Programme (UNDP) and the Rural Electrification Agency (REA) to support renewable energy, industrialisation, enterprise development and skills acquisition.
Alkali also disclosed that the NEDC has attained five International Organization for Standardization (ISO) certifications, reflecting its commitment to transparency, accountability and global best practices in public service delivery.
He described the investment package as one of the most comprehensive development initiatives undertaken by the Commission, saying it is designed to attract private investment, create jobs, improve productivity and build a peaceful, prosperous and globally competitive North-East.
The NEDC chief reaffirmed the Commission’s commitment to implementing the North-East Stabilisation and Development Master Plan in line with President Bola Ahmed Tinubu’s Renewed Hope Agenda, expressing confidence that the investments would accelerate economic growth and usher the region into a new era of sustainable prosperity.
