Tinubu Approves N150 Billion South-East Investment Company To Boost Regional Growth.
President Bola Ahmed Tinubu has approved the establishment of the South-East Investment Company (SEIC), a new initiative under the South East Development Commission (SEDC) with a capital base of N150 billion, aimed at driving industrialisation and economic growth in Nigeria’s South-East region. The announcement, made via the Presidency’s official statement on Friday, marks a significant step towards addressing long-standing developmental challenges in the region.
The SEIC, designed to operate as a subsidiary of the SEDC, will focus on mobilising private capital to unlock regional competitiveness and accelerate industrial transformation. The Presidency stated that the company will leverage hybrid bonds, equity participation, and callable capital structures to achieve its funding goals. Initially wholly owned by the SEDC, the SEIC is expected to transition into a public-private partnership, incorporating investments from South-East state governments, private sector players, development finance institutions, and the Nigerian diaspora.
President Tinubu presented the Certificate of Incorporation to the SEDC during a brief ceremony at the State House in Abuja, attended by key figures including the Minister of Regional Development, Engr. Abubakar Momoh, and the SEDC Managing Director, Mr. Mark Okoye. The initiative draws inspiration from the Eastern Nigeria Development Corporation (ENDC), which, under Dr. Michael Okpara’s leadership, drove industrial progress in the region decades ago. The SEIC will operate independently of annual government budgets, with a private-sector-led board ensuring strong governance, supported by independent fund managers, custodians, and auditors.
The establishment of the SEIC follows the signing of the South East Development Commission Bill into law by President Tinubu on 24 July 2024, aimed at reconstructing infrastructure, tackling ecological issues, and fostering inclusive development in the South-East. Pilot investments and fundraising activities are slated to commence in the fourth quarter of 2025, with a focus on transformative economic projects. The Presidency highlighted that the SEIC aligns with Tinubu’s broader economic vision, which has already attracted significant foreign direct investment and introduced reforms to enhance Nigeria’s investment climate.
Sentiment on social media platforms reflects optimism about the initiative, with users praising its potential to drive equitable economic growth. However, some have cautioned that its success hinges on improved infrastructure, including access to ports, roads, and electricity. The SEIC is seen as a bold move to empower the South-East, a region historically affected by infrastructural deficits and the lingering impacts of past conflicts, while fostering collaboration between public and private sectors to create sustainable prosperity.
