SWDC’ll drive regional economic integration, nominees promise Nigerians

Charles Akinola, the managing director nominee for the newly established South-West Development Commission (SWDC), has declared that the commission under his leadership will pursue an ambitious agenda aimed at transforming the South-West into a unified economic bloc capable of attracting investment, fostering innovation, and enhancing infrastructure across the region.

Akinola, who spoke during his screening before the Senate Committee on SWDC in Abuja on Wednesday, said the commission’s development framework would be built on a clear regional vision.

“Our vision is premised on a strong regional development strategy; six states, one bloc,” he told the lawmakers.

"By approaching the region as a single economic entity, we can build a highly competitive identity that attracts both investment and top-tier talent.”

With over 30 years of experience in economic policy and development, most of it outside the academic environment, Akinola expressed confidence in his ability to provide the strategic leadership needed to realise the commission’s objectives.

“My vision for the South-West is a globally competitive, forward-looking, resilient economy in a prosperous Nigeria,” he said.

“The South-West should become a hub for manufacturing, innovation, and job creation. I would like to see the South-West as a leader in the digital industries and creative economy. So much is happening in that space already, we will build on that momentum.”

Akinola also underscored the importance of leveraging the talents of people from the region, both locally and in the diaspora, as part of aligning with President Bola Tinubu’s Renewed Hope Agenda.

“You will realise that some of our brightest talents in this country are from the South-West. We will leverage the resources of these talents, both within and outside the shores of this country,” he noted.

“Infrastructure development will be a key priority. We’re looking at regional interconnectivity and energy self-sufficiency; these are critical backbones for driving industrialisation.”

The MD nominee further pledged that the commission would adopt fairness and inclusivity in its policies, ensuring no state in the region feels left out.

His reassurances came in response to concerns raised by some lawmakers during the screening.

Senator Cyril Fasuyi, representing Ekiti North, urged the board to prioritise equity in project distribution.

“I just want you to be fair to every state, especially Ekiti. I can say it is the smallest and less privileged among the six states in the region if you look at the record in terms of IGR and revenue collection,” Fasuyi said.

Echoing that sentiment, Senator Wasiu Eshinlokun of Lagos West said he was confident in Akinola’s leadership. “I can attest to the fact that I know the chairman and have no doubt that he is fit for the seat of chairman. I also have no doubt that the South-West Development Commission will benefit from his knowledge and expertise.”

In his remarks, the Chairman of the Senate Committee on SWDC, Senator Yunus Akintunde, commended the vision presented by the nominees and emphasized the critical nature of the task before them.

“Our assignment is not only to evaluate their individual credentials but also to consider the collective strength and diversity they bring to the commission. And we hope they won’t disappoint us,” Akintunde said.

While expressing confidence in the leadership, Akintunde cautioned that the commission’s current financial structure poses challenges.

“What you have is not yet a full capital vote but a takeoff grant,” he explained. “This places a significant responsibility on the pioneer management team and board. You are laying the foundation, and I trust that God will guide you through the journey.”

The screening follows President Tinubu’s May 8 letter to the Senate seeking confirmation of 18 individuals to lead the SWDC. The nominees include former Senator Olubunmi Adetunbi as Chairman and Charles Akinola as Managing Director. Others are Bolaji Ariyo, Joseph Olugbenga, Scholastica Omoworare, Olumuyiwa Olabimtan, Adewinle Martins, Ibrahim Olaifa, Kabiru Lakwaya, retired General Abdul Adamu, Arinola Fagbemi, Ukoha Onyekwere, Howell Ihenacho, Olugbenga Olufehinti, Tele Ogunjobi, Funmilayo Tejuosho, Fatai Ibikunle, and Lateef Ajijola.

The commission, once operational, is expected to address the region’s longstanding infrastructure deficits, promote economic competitiveness, and improve the overall quality of life across the South-West.

Reaffirming his commitment to this vision, Akinola said, “We will look at one economic bloc as a defining feature of the South-West Development Commission. That will allow us to build a very competitive regional identity, which will be able to attract investment and talents. I promise we will not disappoint Nigerians.”