President Bola Ahmed Tinubu has approved the establishment of the South-East Investment Company (SEIC), a dedicated investment arm under the South-East Development Commission (SEDC). The SEIC is set to mobilise private capital, enhance regional competitiveness, and fast-track industrial growth across the region.
Announced on July 17, 2025, the executive approval followed the submission of SEDC’s 100-day performance report, which recommended the creation of a subsidiary solely focused on attracting long-term financing and delivering transformative economic projects in the South-East. The move aligns with the President’s Renewed Hope Agenda, reinforcing the administration’s commitment to equitable development and regional inclusion.
Designed as a professionally governed private-sector-led entity, SEIC will operate independently of annual government budgets. Inspired by the legacy of the former Eastern Nigeria Development Corporation (ENDC), the SEIC aims to revive long-term strategic planning, innovation, and private-sector collaboration that once drove industrial transformation in the old Eastern Region.
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At a ceremony in the State House, President Tinubu officially presented the Certificate of Incorporation to the SEDC team, including Minister of Regional Development, Engr. Abubakar Momoh, and SEDC Managing Director/CEO, Mr. Mark Okoye. The President commended the team for its swift action in operationalising the SEIC, including the development of its governance framework and institutional structure.
SEIC will initially operate as a wholly owned subsidiary of the SEDC but will transition into a Public-Private Partnership (PPP) involving state governments, diaspora investors, development finance institutions, and the private sector. It will manage targeted investment portfolios in critical areas such as infrastructure, entrepreneurship, global reserve holdings, education, and skills development.
With a projected blended capital base exceeding ₦150 billion, SEIC plans to raise resources through hybrid bonds, callable capital structures, and equity participation. Pilot investments and structured fundraising are expected to begin by Q4 2025, with transparent oversight from fund managers, custodians, and auditors.
Speaking on the initiative, SEDC MD/CEO Mark Okoye described the SEIC as more than just a financial entity. He said it represents a bold, long-term strategy to unlock capital, de-risk private sector investment, and deliver sustainable economic growth in the South-East.
President Tinubu reiterated his administration’s support for investment-led development across all regions, urging SEIC to deliver measurable results that uplift the South-East and contribute to national unity through shared prosperity. The SEIC will also pursue all necessary regulatory approvals to ensure full operational compliance with national and global standards.
This initiative is poised to become a catalyst for inclusive economic growth, job creation, and industrial rebirth in the South-East, signalling a new era of regional economic transformation under President Tinubu’s leadership.
