ABUJA — In a major move aimed at stimulating industrial growth in Nigeria’s South-East, President Bola Ahmed Tinubu has granted executive approval for the establishment of the South-East Investment Company (SEIC). The newly incorporated entity will operate under the umbrella of the South East Development Commission (SEDC) to mobilize private capital and accelerate economic transformation in the region.
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The President’s decision follows the submission of a 100-day performance report by the SEDC, which included a formal proposal for the creation of a specialized investment arm to drive long-term funding and high-impact development projects.
Designed as a privately-led and independently governed company, the SEIC is expected to chart a path similar to the Eastern Nigeria Development Corporation (ENDC)—an iconic model of industrial advancement during the First Republic under the leadership of the late Dr. Michael Okpara.
According to the Presidency, the SEIC will not rely on annual federal budgetary allocations but will instead pursue innovative financing strategies, public-private partnerships, and long-term investment planning focused on the region’s unique strengths.
At a brief ceremony held at the State House, President Tinubu formally handed over the Certificate of Incorporation of the SEIC to the leadership of the SEDC. The event was attended by the Honourable Minister of Regional Development, Engr. Abubakar Momoh; the Managing Director/CEO of the SEDC, Mr. Mark Okoye; and senior members of the Commission’s Executive Management Team.
The launch of the SEIC marks what many observers see as a strategic shift toward regional economic empowerment, innovation, and private sector collaboration—potentially transforming the South-East into a hub of industrial excellence.
More details on the operational framework of SEIC are expected to be unveiled in the coming weeks.
