SWDC to establish Southwest investment fund for regional development, Says Akinola

The Managing Director and Chief Executive Officer of the South-West Development Commission (SWDC), Dr. Charles Akinola, has informed the commission is working on establishing a South-West Investment Fund to catalyse investment across the six states of the region.

Akinola said the proposed fund, which will be largely private sector-driven, is designed to attract capital for strategic regional projects and address the infrastructure needs of the South-West.

He stated on Thursday at the South-West Stakeholders’ Dialogue organised by Afenifere, the DAWN Commission, and the South-West Governors’ Forum, held in Akure, Ondo State, with the theme “Strengthening Democracy Through Dialogue: Assessing Progress, Charting the Future.”

“We are designing a best-in-class investment fund that can attract private capital to finance outstanding regional projects and meet the urgent infrastructure needs of the South-West,” Akinola said.

The SWDC boss explained that the commission is intensifying efforts to achieve greater regional connectivity and integrated development as part of a broader agenda to promote inclusive growth and shared prosperity across the region.

According to him, consultations have begun with development partners and private investors to design a framework for intra-regional transportation corridors, agricultural value chain enhancement, and technology-driven industrial clusters linking major cities and rural communities.

He noted that improving road networks, digital infrastructure, and economic linkages would facilitate trade and mobility while strengthening social cohesion and competitiveness across the South-West.

“The development commissions, like the SWDC, focus on regional projects that are often left unattended to. We’re looking at integrative initiatives such as regional connectivity by rail and highways.

“For instance, it took us about four hours to get from Ibadan to Akure, How do we get state governments, the federal government, and the private sector to collaborate on such critical infrastructure?” he asked.

Akinola stressed that the SWDC’s strategy aligns with President Bola Tinubu’s economic transformation agenda and the renewed commitment of South-West governors to a unified development blueprint.

He said improved connectivity will enable the region to leverage its human capital and economic potential to drive national growth, attract investment, and create jobs for millions of young people.

“We will be engaging in the coming weeks with a broad range of stakeholders – communities, governors, trade groups – to define a shared vision for the commission. This inclusiveness is critical to ensuring collective ownership and success,” he stated.

Akinola recalled that he previously chaired the expert group set up by South-West Governors between 2020 and 2021 to produce the technical report that laid the foundation for the establishment of the SWDC.

“We engaged governors across the states to identify priorities and shared perspectives on regional development. It’s an ongoing process. We cannot succeed without the active participation of the governors and the people,” he noted.

He reaffirmed the commission’s commitment to working closely with traditional rulers, trade groups, youth associations, and market women to drive a shared vision of prosperity for the region.

“We stand on a covenant with the people of the South-West that we will do our best. Together with our partners, the governors, Kabiyesis, trade groups, and communities, we will pursue a united vision to drive prosperity through the work of the South-West Development Commission,” Akinola declared.