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 President’s decision follows the submission of the SEDC’s 100-day performance report and a formal request to create a subsidiary focused exclusively on attracting long-term finance and driving transformative economic projects in the region. The creation of SEIC aligns with the Renewed Hope Agenda and reflects the administration’s commitment to equitable development and regional economic inclusion.

The SEIC is envisioned as a professionally governed, private- sector-led investment company operating independently of annual government budgets. It draws strategic inspiration from the legacy of the Eastern Nigeria Development Corporation (ENDC), which, under the leadership of Dr. Michael Okpara, once spearheaded industrial transformation in the old Eastern Region. Establishing SEIC marks a return to long-term economic planning rooted in regional advantage, innovation, and private sector collaboration.

At a brief ceremony at the State House, President Tinubu presented the Certificate of Incorporation of the SEIC to the South East Development Commission. In attendance were the Honourable Minister of Regional Development, Engr. Abubakar Momoh, the Managing Director/CEO of the SEDC, Mr. Mark Okoye, and members of the Commission’s Executive Management Team.

Since its approval in June, the Commission has moved swiftly to AL operationalise the SEIC. A High-Level Advisory Committee was convened to design its institutional and governance framework, which was submitted earlier this month and validated through a Roundtable Engagement with donors and development partners.

According to the approved structure, SEIC will begin as a wholly owned subsidiary of the SEDC, with plans to transition into a Public-Private Partnership (PPP) model involving SEDC, South-East state governments, the private sector, diaspora investors, and development finance institutions. The company will operate through distinct investment portfolios, targeting infrastructure assets, entrepreneurship development, global reserve holdings, and special interventions in skills and education.

With a projected blended capital base of over #150 billion, SEIC will mobilise resources through hybrid bonds, equity participation, and callable capital structures. Pilot investments and structured fundraising activities are expected to commence in Q4 2025, supported by strong governance systems including independent fund managers, custodians, and auditors.

Speaking on the significance of the initiative, Mr. Mark Okoye, MD/CEO of the SEDC, said that, “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.”

President Tinubu reiterated his administration’s resolve to support all regions with tailored, sustainable, and investment-led approaches to development. He charged the SEDC and the SEIC to deliver measurable outcomes that would uplift the South- East and strengthen national cohesion through shared prosperity.

According to the SouthEast Development Commission, SEIC will actively seek all necessary regulatory registrations and compliance procedures as part of its short-to medium-term plans for full operationalisation in accordance with applicable laws and global standards.