President Bola Tinubu has approved the establishment of the South-East Investment Company (SEIC), an initiative of the South East Development Commission (SEDC).
The SEIC is a dedicated investment organization aimed at attracting private investment, enhancing regional competitiveness, and accelerating industrial and economic growth in the South-East.
This approval followed the SEDC’s submission of its 100-day performance report to Tinubu, which highlighted major accomplishments and suggested strategic measures for sustainable regional development.
One of the key proposals was the establishment of a dedicated entity to draw in long-term investments and execute large-scale development initiatives.
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The commission stated that the SEIC aspires to become a $1 billion asset-management firm, concentrating on promoting industrialization, infrastructure development, and entrepreneurial assistance across the South-East.
Additionally, it aims to position the region as a significant center for manufacturing and technology in West Africa.
In his comments, Tinubu praised the SEDC for its forward-thinking approach and assured the federal government’s support in achieving the region’s economic goals.
Public and private sector stakeholders have welcomed this initiative as a significant step toward closing the development gap and fostering a more inclusive economy in Nigeria.
Further information regarding the SEIC’s structure, leadership, and implementation plan is anticipated in the upcoming weeks.
