Gbenga Ilemobayo
The Group Managing Director/Chief Executive Officer, United Bank for Africa Plc, Oliver Alawuba, has called on leaders and key stakeholders in the South-East to prioritise security and peace, infrastructure development and the delivery of bankable and investment-ready projects.
This, according to him, is critical if the region is to unlock its long-term development agenda under the South-East Vision 2050 (S8V2050).
Alawuba made the call while delivering a goodwill remark at the South-East Vision 2050 Regional Stakeholders’ Forum, which was held at the International Conference Centre, Enugu, on Wednesday.
The forum was convened by the South-East Development Commission in collaboration with the Office of the Vice President, the Ministry of Regional Development and the South-East state governments to build consensus around a shared development pathway for the region and advance implementation-ready interventions aligned with national priorities.
Speaking in his capacity as GMD/CEO as well as the Chairman of the Body of Bank CEOs and on behalf of Corporate Nigeria, Alawuba identified peace and security as the most urgent requirement for attracting investment into the region, noting that safety remained the first signal investors would assess before committing capital.
“The first thing the South-East needs is peace. It is an established fact, world over, that investments flow in the direction of safety,” Alawuba stated, urging state governments and regional leaders to sustain coordinated efforts to secure lives, assets and infrastructure.
He also challenged stakeholders to adopt a results-driven partnership model between the government and the private sector; just as he noted that the success of the South-East Vision 2050 would largely depend on the region’s ability to articulate and package clear, measurable and value-adding projects capable of attracting long-term capital.
“Vision alone is not enough. The South-East must present specific, bankable projects with defined impact – projects that can unlock investment, create jobs and deliver real improvements in the lives of our people,” Alawuba stated.
The forum brought together prominent Nigerians from across the government and the private sector, including Vice-President Kashim Shettima; governors of Imo, Abia, Anambra, Ebonyi and Enugu states, senators and members of the House of Representatives.
Other key participants included the Minister of Regional Development; the Chairman, Board Members and management of the SEDC, monarchs and members of the clergy, members of the Diplomatic Corps, captains of industry, and development partners.
The UBA CEO took time to commend the South-East governors for visible progress in road construction and other critical facilities across the region, while calling for accelerated delivery at scale.
“Infrastructure is the bedrock of development. We have seen improvements, but a little bit more is required such as reliable power, motorable roads, rail, water and connectivity to remove the bottlenecks that limit productivity and competitiveness,” he stated.
While stressing the importance of creating a truly investor-friendly business environment and unlocking Diaspora capital to drive inclusive growth, he added, “Capital will always respond to predictability, ease of doing business and confidence. If we get the fundamentals right, Corporate Nigeria and the banking industry will rally round to finance viable projects, support SMEs, create jobs for our youths and mobilise long-term capital to make the South-East Vision 2050 a reality.”
He seized the opportunity to reaffirm UBA’s readiness to partner the SEDC and the South-East state governments, as he noted that the Vision 2050 framework would be strengthened by private-sector participation and long-term capital mobilisation to ensure it remained credible and investable.
United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group-wide and serving over 45 million customers globally. Operating in 20 African countries, the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting-edge technology.
