President Bola Ahmed Tinubu has approved the establishment of the South-East Investment Company (SEIC), a federally backed investment vehicle with a projected capital base of N150 billion aimed at accelerating industrialisation and unlocking private sector growth across Nigeria’s South-East region.
The announcement was made in a statement published on Friday via the official handle of the Presidency of the Federal Republic of Nigeria.
According to the statement, the SEIC will operate as a subsidiary of the South East Development Commission (SEDC) and is structured to mobilise private capital, drive long-term economic transformation, and promote inclusive development in the region.
Initially, the company will be wholly owned by the SEDC but is expected to transition into a public-private partnership (PPP), incorporating investments from South-East state governments, private sector players, development finance institutions, and the diaspora. The SEIC will oversee a range of targeted investment portfolios, including infrastructure, entrepreneurship, education, and other strategic interventions.
“President Bola Ahmed Tinubu, GCFR, has granted executive approval for the establishment of the South-East Investment Company (SEIC), a dedicated investment vehicle under the South East Development Commission (SEDC) designed to mobilise private capital, unlock regional competitiveness, and fast-track industrialisation in the South-East,” the statement read in part.
It added, “With a projected blended capital base of over N150 billion, SEIC will mobilise resources through hybrid bonds, equity participation, and callable capital structures.”
To achieve its funding goals, the company will leverage a mix of hybrid bonds, equity participation, and callable capital structures. Pilot investments and fundraising activities are expected to commence by the fourth quarter of 2025.
More insights
President Tinubu presented the Certificate of Incorporation to the Commission in a brief ceremony at the State House in Abuja. Present at the event were the Minister of Regional Development, Engr. Abubakar Momoh, the Managing Director of the SEDC, Mr. Mark Okoye, and members of the Commission’s executive team.
According to Okoye, the initiative marks a major milestone for economic planning in the region.
“The SEIC represents a bold step forward in regional development. It is more than a financial vehicle. It is a long-term strategy to unlock private capital, de-risk investment, and deliver sustainable economic growth for the South-East. We are building an institution that will stand the test of time and serve as a bridge between government priorities and private sector efficiency,” he said.
- The SEIC draws inspiration from the legacy of the defunct Eastern Nigeria Development Corporation (ENDC), which helped stimulate industrial growth in the old Eastern Region under the leadership of Dr. Michael Okpara.
- The current initiative is expected to revive that momentum by aligning regional strengths with national development priorities.
The Presidency also noted that the SEIC will undergo all necessary regulatory and compliance processes to ensure full operational readiness in line with global standards.
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