Obasanjo’s ex-Economic Adviser heads Alaigbo Stabilisation Fund steering committee

A MAJOR step towards the rapid transformation of the Southeast.and Igbo-speaking communities in neigbouring  states  was taken on Wednesday by Ohanaeze Ndigbo as it  inaugurated a steering committee for  Alaigbo Stabilization Fund.

Prof Osita Ogbu, an erstwhile economic adviser to former President Olusegun Obasanjo chairs the 54-member committee.

The panel  is mandated to among others, articulate strategies, mobilise resources and coordinate policies “to assuage the deep yearnings of Ndigbo for a prosperous developed and happy homeland.”

Inaugurating the committee in a Zoom virtual meeting with the members,  Ohanaeze Ndigbo President-General Nnia  Nwodo, said that the  Southeast Governors Forum, the leadership of the apex  pan-Igbo socio-cultural organisation  and  the entire Igbo nation  had  resolved to urgently address the current infrastructural deficit and developmental gap in the zone.

He stated that the infrastructural deficit and   developmental gap was  occasioned by the total neglect of the zone by the Federal Government since the Nigerian civil war ended.

Nwodo added that the stakeholders were determined  to build a homeland that is” industrialised with modern world-class physical and social infrastructure, competitive, attractive for investments and generates employment for the teeming youthful population.”

The President-General said to achieve these, Ndigbo needed a new and creative funding mechanism with Alaigbo Stabilization Fund as its cornerstone.

Nwodo listed  other terms of reference of the Ogbu-led committee  as “  making  recommendations for the establishment, institutionalizing  governance and development, structure and organisation, funding and sustainability of the fund to ensure it operates on sound legal organizational and financial principles, including making good returns on investments as well as to fulfill the social and developmental needs of Igboland.”

The President-General, therefore, charged  the committee to carry out its assignment assiduously so that the benefits of the fund would spread throughout  all Igbo speaking states and even percolate to neighbouring states so that “our  the kith and kin in those states would also benefit  from the scheme.”

Nwodo thanked the members of the committee for volunteering to serve  in the   body, especially  Ogbu, who he said offered his wealth of experience in the United Nations  and  the Federal Government

He also thanked the Prof Charles Soludo-led Ohanaeze Planning and Strategy Committee, whose behind the scene advice evolved into the setting up of the fund.

The Ohanaeze Ndigbo poured special encomiums on the governors of the Southeast for standing solidly behind the establishment of Alaigbo Stabilization Fund without which it could not have been realised, adding that “the people will never forget this crop of governors for giving them a new lease of life.”

Although  Nwodo did not state the amount that was envisioned  to kick-start the development plan, his Media Adviser, Emeka Attamah, explained to The Nation that the committee would decide that..

“They were inaugurated based on that. The members have to take into account all the needs of Alaigbo and make an estimate,” Attamah said.

Ogbu,   a Professor of Development Economics and also a former National Planning minister,. commended the selfless service, visionary leadership and clarity of expression of   Nwodo.

Ogbu said that  Nwodo, working with the tacit support of the governors, has made his tenure as Ohanaeze Ndigbo leader intelligent, purposeful and exemplary.

He stated that  the fire lit by the governors and Ohanaeze Ndigbo leadership  would burn far into the future.

Ogbu, who  implored the governors to remain fastidious as the anchor of the stabilisation fund, pledged that the enthusiasm shown by the members of the committee would ensure that they came out with far-reaching positive conclusions.

The committee is expected to submit its report soon.

5 thoughts on “Obasanjo’s ex-Economic Adviser heads Alaigbo Stabilisation Fund steering committee

  1. Thank you the Prof Charles Soludo-led Ohanaeze Planning and Strategy Committee, whose behind the scene advice evolved into the setting up of the fund.

  2. They were inaugurated based on that. The members have to take into account all the needs of Alaigbo and make an estimate

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