By Chidipeters Okorie
Enugu, NIGERIA — In a bold and strategic move, the South East Business and Investment Summit (SEBIS) Group has unveiled plans on Monday to transform the South East region of Nigeria into a leading economic powerhouse.
The announcement came during a world press conference in Anuja aimed at garnering support for the upcoming summit, scheduled for December 11-13, 2024, at the Amadeo Event Centre in Enugu.
Reflecting on the region’s storied past, the Executive Secretary of (SEBIS), Dr. Ifedi Okwenna noted that Eastern Nigeria was once the fastest-growing economy in Africa, boasting growth rates above 9 percent annually from 1958 to 1967. This period positioned the region as a formidable player in the global economic arena, outpacing even emerging economies like Singapore and Taiwan. However, he lamented the stark decline that followed, primarily due to the devastating effects of the civil war and the subsequent migration of both human and capital resources.
“Today, we find ourselves at a crossroads,” Dr. Okwenna remarked. Despite the South East’s strong human development indicators—such as the lowest poverty rate in Nigeria and a higher per capita GDP—the region has struggled to match its economic potential and historical achievements. Major markets like Onitsha and Aba, once bustling centers of trade, have lost their preeminence, with many entrepreneurs opting to invest elsewhere due to a more favorable business climate.
The SEBIS initiative aims to reverse these trends by fostering a collaborative environment that bridges the gap between government, private sector leaders, and international development partners. Dr. Okwenna emphasized the need for a unified approach to stimulate investment and trade in the region.
“The South East is rich in talent and entrepreneurial spirit,” he asserted. “We must leverage these strengths to create robust public-private partnerships that drive economic growth and development.”
The 2024 summit is expected to attract a diverse array of participants, including over 1,000 business leaders, policymakers, and investors, alongside an additional 10,000 virtual attendees. High-profile speakers, including Nigeria’s President Bola Ahmed Tinubu and former Tanzanian President Jakaya Mrisho Kikwete, will headline the event, setting the stage for critical discussions on investment opportunities and economic strategies.
Dr. Okwenna highlighted the summit’s focus on inclusivity, with specialized sessions dedicated to women in business and youth entrepreneurship. “We want to ensure that all segments of our society are engaged in this economic transformation,” he stated, underscoring the importance of empowering marginalized groups.
As the region prepares for this pivotal event, Dr. Okwenna called on the media and potential investors to participate actively in this movement. “This is our chance to redefine the South East as a vibrant center of trade and commerce in Africa,” he declared. “Let us work together to build a prosperous future.”
With the SEBIS on the horizon, the South East stands at the brink of a significant economic revival, ready to harness its rich heritage and entrepreneurial potential to forge a brighter future for its people. The forthcoming summit promises to be a watershed moment in the region’s economic history, as stakeholders unite to navigate the path toward renewed growth and prosperity.
At the world press conference were Chief C. Darl Uzu, Chief Sir Emeka Mbagha, Sir Patrick Okwuba, Chief Polycarp E. Okoroafor, Dr. Somadina J. Anene, Chief Lambert Oparah, Mrs. Chinyere Oge-Kalu, and Dr. Kingsley Okoronkwo.
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