Tinubu approves South-East investment company

President Bola Tinubu has given the green light for the establishment of the South-East Investment Company (SEIC), a major step toward accelerating economic development and industrialisation in Nigeria’s South-East region.

The new initiative, operating under the South East Development Commission (SEDC), is designed to unlock the region’s economic potential by attracting private capital and driving transformative development projects.

According to a statement released by the Presidency on Friday, the approval follows the SEDC’s 100-day performance report and a formal proposal to set up a dedicated investment vehicle. The SEIC will serve as a subsidiary of the SEDC, focusing on facilitating key investments in infrastructure, manufacturing, agriculture, and innovation.

“The SEIC is envisioned as a professionally governed, private-sector-led investment company operating independently of annual government budgets. It draws strategic inspiration from the legacy of the Eastern Nigeria Development Corporation (ENDC), which, under the leadership of Dr. Michael Okpara, once spearheaded industrial transformation in the old Eastern Region.

“Establishing SEIC marks a return to long-term economic planning rooted in regional advantage, innovation, and private sector collaboration,” it said.

Under the approved framework, SEIC will launch as a wholly owned subsidiary of the SEDC, with plans to evolve into a Public-Private Partnership (PPP) that brings together the SEDC, South-East state governments, private investors, diaspora stakeholders, and development finance institutions.

“The company will operate through distinct investment portfolios, targeting infrastructure assets, entrepreneurship development, global reserve holdings, and special interventions in skills and education.

“With a projected blended capital base of over N150 billion, SEIC will mobilise resources through hybrid bonds, equity participation, and callable capital structures. Pilot investments and structured fundraising activities are expected to commence in Q4 2025, supported by strong governance systems including independent fund managers, custodians, and auditors,” it added.

During a brief ceremony at the State House, President Tinubu formally presented the Certificate of Incorporation for the SEIC to the South East Development Commission.

Present at the ceremony were the Minister of Regional Development, Engr. Abubakar Momoh; the Managing Director/CEO of the SEDC, Mr. Mark Okoye; and members of the Commission’s Executive Management Team.