The Federal Government, through the Governing Board of the North East Development Commission (NEDC), has approved a N130 billion investment package comprising a N100 billion solar power programme and a N30 billion Micro, Small and Medium Enterprises (MSME) Development Fund to accelerate economic growth and long-term development across the North-East.

The approvals, announced on Thursday in Abuja, form part of the Commission’s transition from post-insurgency reconstruction to sustainable economic development under the North-East Stabilisation and Development Master Plan (NESDMP) and President Bola Tinubu’s Renewed Hope Agenda.

Addressing journalists after the board meeting, the Managing Director and Chief Executive Officer of the NEDC, Mohammed Goni Alkali, said the Commission had laid the foundation for recovery in the region and was now focused on driving investment, industrialisation and inclusive growth.

“Today marks another defining milestone in the transformation of the North-East. The decisions of the Governing Board reaffirm the Commission’s commitment to delivering sustainable development in line with the North-East Stabilisation and Development Master Plan and the Renewed Hope Agenda of President Bola Ahmed Tinubu,” Alkali said.

He added that the North-East was entering a new phase of development.

“The North-East is no longer defined by its past but by the promise of its future. We are moving from recovery and stabilisation to prosperity,” he said.

A major component of the package is a N100 billion investment to deploy 50 megawatts of renewable energy through solar mini-grids and distributed energy systems across the six North-East states.

Alkali said the project was designed to address the region’s electricity deficit, noting that only about 39 per cent of residents currently have access to electricity.

He explained that the initiative would provide reliable power to homes, schools, hospitals, markets, agricultural clusters and industrial parks, while reducing energy costs and improving productivity.

“Reliable and affordable electricity is fundamental to achieving sustainable economic growth. This 50MW renewable energy programme will expand energy access, stimulate local economic activity and strengthen energy security across the region,” he said.

According to him, the project will also support agro-processing, healthcare delivery, education, digital innovation, job creation and Nigeria’s clean energy transition.

The Governing Board also approved the establishment of a N30 billion NEDC–Bank of Industry MSME Development Fund to provide affordable financing, business advisory services and capacity-building support for micro, small and medium-sized enterprises, with particular focus on youth- and women-owned businesses.

“The fund is expected to stimulate entrepreneurship, strengthen local industries, create employment and accelerate inclusive economic growth across the region,” Alkali said.

Beyond the power and MSME initiatives, the Commission approved plans to launch one of Africa’s largest electric mobility programmes through the phased deployment of more than 10,000 electric vehicles, including taxis, minibuses and larger buses, supported by charging infrastructure and maintenance facilities.

The programme is expected to modernise public transportation, reduce dependence on fossil fuels, create green jobs and position the North-East as a leader in sustainable mobility.

The Board also approved plans to advance the proposed North-East Railway project and establish a regional airline to improve connectivity, facilitate trade, encourage tourism and attract investment.

To strengthen healthcare delivery, the Commission approved the procurement of eight state-of-the-art 1.5 Tesla helium-free MRI machines, CT scanners, digital X-ray systems, dialysis machines and other advanced diagnostic equipment for tertiary hospitals across the region.

Alkali said the investment would expand access to specialist healthcare services and reduce the need for patients to seek treatment outside the North-East.

The Commission also approved 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.

Highlighting the Commission’s achievements, Alkali said the NEDC has completed more than 300 kilometres of roads and over 50 bridges, installed more than 100,000 solar-powered streetlights, built 18 mega schools, delivered 49 tertiary education projects, and expanded access to water, sanitation and hygiene facilities across the region.

He also disclosed that the Commission recently secured five International Organization for Standardization (ISO) certifications covering quality management, environmental management, occupational health and safety, anti-bribery systems and sustainable community development.

According to him, the certifications reflect the Commission’s commitment to transparency, accountability and international best practices in public service delivery.

Alkali described the newly approved projects as one of the most ambitious development packages since the establishment of the NEDC, saying they would unlock private investment, enhance regional competitiveness and improve the quality of life across the North-East.

“These investments are more than projects; they are catalysts for growth and transformation that will improve lives, strengthen communities and unlock the enormous economic potential of the North-East. The region is ready to move from recovery to prosperity,” he said.