President Bola Ahmed Tinubu, GCFR, has given formal approval for the establishment of the South-East Investment Company (SEIC), a specialized investment arm operating under the South East Development Commission (SEDC). The SEIC is conceived as a vehicle to drive industrialization, boost regional competitiveness, and attract private capital to the South-East region. This decision follows the presentation of the SEDC’s 100-day performance report and a formal proposal requesting the creation of a focused subsidiary dedicated to mobilizing long-term finance and championing impactful economic initiatives in the region. The establishment of the SEIC is consistent with the principles of the Renewed Hope Agenda and underscores the administration’s commitment to balanced national development and inclusive regional growth.
The newly formed SEIC is designed to function as an independently managed, professionally run investment entity, led primarily by the private sector and not dependent on annual government budgets. The initiative draws historical inspiration from the Eastern Nigeria Development Corporation (ENDC), which was instrumental in advancing industrial development in the former Eastern Region under the visionary leadership of Dr. Michael Okpara. The formation of the SEIC marks a strategic return to long-term economic planning driven by regional advantages, innovation, and robust partnerships with the private sector.
During a brief but symbolic event at the State House, President Tinubu officially handed over the Certificate of Incorporation for the SEIC to the South East Development Commission. Present at the ceremony were the Honourable Minister of Regional Development, Engr. Abubakar Momoh; the Managing Director and Chief Executive Officer of the SEDC, Mr. Mark Okoye; as well as key members of the Commission’s executive leadership team. Since receiving the President’s approval in June, the SEDC has wasted no time in initiating the groundwork required to bring SEIC into full operation.
To lay a strong foundation for the company’s structure and governance, the Commission assembled a High-Level Advisory Committee tasked with designing the SEIC’s institutional framework. This framework was completed and submitted earlier this month and subsequently validated through a roundtable session involving donors and development partners. According to the finalized plan, SEIC will initially operate as a fully owned subsidiary of the SEDC, with a roadmap to evolve into a Public-Private Partnership (PPP) structure. This future model will include equity and investment participation from the SEDC itself, state governments across the South-East, the private sector, Nigerian diaspora investors, and international development finance organizations.
SEIC is expected to structure its operations around distinct investment portfolios that focus on key sectors, including infrastructure development, entrepreneurship promotion, strategic global reserves, and targeted programs in education and vocational skills. The company aims to establish a blended capital base exceeding ₦150 billion, sourced through innovative financial instruments such as hybrid bonds, equity financing, and callable capital mechanisms. The first wave of investment activities and structured fundraising campaigns is scheduled to commence in the fourth quarter of 2025. These will be supported by a robust governance architecture, including independent fund managers, financial custodians, and certified auditors to ensure transparency and efficiency.
Commenting on the strategic importance of the new entity, Mr. Mark Okoye, Managing Director and CEO of the SEDC, emphasized that the SEIC is far more than just a funding agency. He described it as a transformative platform that would de-risk investment, mobilize large-scale private sector financing, and promote long-term economic stability across the South-East. “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 stated.
President Tinubu, while addressing stakeholders, reaffirmed his administration’s commitment to pursuing region-specific, investment-led development strategies tailored to the unique challenges and opportunities of each zone. He charged both the SEDC and SEIC to deliver tangible and measurable developmental outcomes that would uplift the South-East and contribute to strengthening national unity through inclusive prosperity.
The South East Development Commission also confirmed that the SEIC will immediately begin pursuing all necessary regulatory approvals, registrations, and compliance processes to ensure its operations are fully in line with Nigerian laws and international best practices. This step forms part of the SEIC’s short- and medium-term plans to transition into a fully functional and legally sound investment platform capable of attracting both domestic and foreign capital to accelerate regional growth.