By Uzoma Agbai (Governance Reporter)
The president General of Ohanaeze Ndigbo, Chief John Nnia Nwodo, has inaugurated the 54-member Steering Committee for the Alaigbo Stabilization Fund.
Inaugurating the Committee in a Zoom virtual meeting with the members, Nwodo stated that the fund was envisioned as a key instrument to articulate strategies, mobilize resources and coordinate policies to assuage the deep yearnings of Ndigbo for a prosperous, developed and happy homeland.
He said that the South-East Governors Forum, the leadership of Ohanaeze Ndigbo and indeed the entire Igbo nation are resolved to urgently address the current infrastructural deficit and developmental gap in the zone occasioned by the total neglect of the area by the Federal Government, since after the civil war in-order to build a home land that is industrialized with modern world-class physical and social infrastructure, competitive, attractive for investments and generate employment for the teaming youthful Igbo population.
The Ohaneze leader also said that to achieve these, Ndigbo need a new and creative funding mechanism with Alaigbo Stabilization Fund as its cornerstone. Nwodo explained that among other terms of reference, the committee shall make recommendations for the establishment of institutional governance and development structure and organization, 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 charged the Committee to carry out their assignment assiduously so that the benefit of the fund would spread throughout the seven Igbo-speaking States, and even percolate to other neighbouring States, so that the Igbo Kith and Kin in those States would also benefit from the scheme.
Nwodo however thanked the members of the committee for volunteering to serve gratuitously in the all-important body, especially the Chairman, Prof Osita Ogbu, who, he said, offered his wealth of experience in the United Nations service, the Federal Government and as Professor of Development Economics.
He also thanked the Prof Charles Soludo-led Ohanaeze Planning and Strategy Committee, whose behind-the-scene advice, he said, evolved into the setting up of the Fund.
Nwodo who watwo-time former Minister, however poured special encomiums on the Governors of the South-East for standing solidly behind the establishment of Alaigbo Stabilization Fund without which it could not have been realized, adding that the people will never forget this crop of Governors for giving them a new lease of life.
Responding, the Chairman of the Steering Committee for the Fund, Prof Osita Ogbu, commended the selfless service, visionary leadership and clarity of expression of Chief Nwodo. Ogbu said that Chief Nwodo, working with the tacit support of the Governors, has made his regime intelligent, purposeful and exemplary, worthy of emulation and has a place in history, as the fire lit by the Governors and Ohanaeze Ndigbo would burn far into the future.
The former Economic Adviser in the former President Olusegun Obasanjo's administration urged the South East Governors to remain steadfast as the anchor of the fund, and pledged that the enthusiasm shown by the members of the committee would ensure that they come out with far-reaching positive conclusions.
The committee is expected to submit its report soon
