The North East Development Commission (NEDC) has approved a multi-billion naira investment package aimed at accelerating economic growth and transforming the North-East into a hub for commerce, innovation and investment.
Speaking at the Commission’s Governing Board meeting and press conference in Abuja on Thursday, Managing Director and Chief Executive Officer, Mohammed Goni Alkali, said the approvals mark the beginning of the “Expansion and Sustainable Growth” phase of the North-East Stabilisation and Development Master Plan (NESDMP).
Alkali said the Commission has moved beyond post-insurgency recovery and reconstruction to focus on long-term economic development through investments in renewable energy, transportation, healthcare, enterprise development, industrialisation and regional connectivity.
He noted that the investment programme aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda and is designed to attract private investment, create jobs and promote sustainable development across the region.
A key component of the package is a ₦100 billion investment in a 50-megawatt solar mini-grid programme to provide electricity to homes, schools, hospitals, markets, agricultural clusters and industries. The initiative builds on the Commission’s “Light Up the North-East” project, which has installed over 100,000 solar-powered streetlights across the region.
The Governing Board also approved plans to advance the proposed North-East Railway Project to improve passenger and freight transportation, reduce logistics costs and strengthen regional trade.
In addition, the Commission endorsed the establishment of a North-East Regional Airline to enhance connectivity, facilitate business travel, promote tourism and attract investment.
The NEDC also approved the rollout of its Electric Vehicle (EV) Programme, beginning with the deployment of 300 electric taxis, minibuses and buses as part of a phased plan to introduce over 10,000 electric vehicles supported by charging infrastructure and maintenance facilities.
According to Alkali, the programme will modernise public transportation while creating thousands of jobs for engineers, technicians, mechanics, ICT professionals and transport operators.
To support small businesses, the Commission approved a ₦30 billion NEDC-Bank of Industry MSME Development Fund to provide affordable financing, business support services and capacity-building programmes for youth- and women-owned enterprises.
The healthcare sector also received a boost with the approval for the procurement of eight 1.5 Tesla helium-free MRI machines, CT scan machines, digital X-ray systems, mammography equipment and dialysis machines for hospitals across the six North-East states.
The Commission further approved the upgrade of the Borno Eye Hospital into a modern ophthalmic centre and the establishment of a Fertility Centre at the University of Maiduguri Teaching Hospital.
Alkali said the NEDC has entered 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.
He also disclosed that the Commission has earned five International Organization for Standardization (ISO) certifications, reflecting its commitment to transparency, accountability and global best practices.
Describing the investment package as one of the Commission’s most comprehensive development initiatives, Alkali expressed confidence that the projects would accelerate economic growth, create employment opportunities and position the North-East for long-term prosperity.