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.
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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.
To those that have been criticizing President Bola Ahmed Tinubu for lack of initiative and originality, the establishment of this unique SEIC is a testimony of his desire to listen and cooperate with good initiative and originality. To those who have studied Bola’s approach to politics, he has the desire to mark out strategies that will enhance the entire economic prosperity of the nation. That is why I advise critics to stop disturbing is original plan in politics by allowing him to practice what he believes will enhance the economy. Politics aside, the effect of this new economic project will certainly go a long way to energize the people of the South-East. To rule Nigeria is not an easy task. One needs dynamism and a free mind to do what is right for the people. This unique opportunity that is now made available for the South-East should be utilized wisely. No room for corruption and nepotism. I trust my brothers and sisters from the South-East for aggressiveness and commitments. They will turn the investments into an industrial estate worthy of emulation. In passing, kudos to PBAT and his teams for this gestures. It is a gesture that will bring about healthy competition in the country.
Its another white elephant scam. The result will only be a white was grave for the investors. There is no investment to be done without regional or state control of resources. This just a means to raise money from igbo billiionaires in the south east. The federal goverment is targeting the monies in the hands of billionaire igbo traders across the east. Please, dont fall for this scam.
Beware of this scam called soth east investment company SEIC. Fedral govermebt has stolen Your taxes and it is not enough. Now fedral goverment wants to scam you with this nonscence of a company. Run oh. A word is enough for the wise.
Peter Obi can never think of something like this.
This is an excellent initiative which can bring about gradual independent economic growth of the region if they key into it.