President Bola Ahmed Tinubu has approved the establishment of South-East Investment Company (SEIC).
Gatekeepers News reports that SEIC is a strategic initiative aimed at driving private capital, accelerating industrialisation, and enhancing regional competitiveness.
The SEIC will operate under South-East Development Commission (SEDC), which was inaugurated earlier in the year.
According to a statement released by the presidency on Friday, the company will be structured as a professionally governed, private-sector-led institution that functions independently of federal budget cycles.
Initially owned entirely by the SEDC, the SEIC is expected to evolve into a public-private partnership. This transition will bring in funding from south-east state governments, private sector investors, development finance institutions, and members of the diaspora.
With a projected capital base exceeding ₦150 billion, SEIC will manage a portfolio of strategic investments, including infrastructure, entrepreneurship, and education.
The company plans to raise funds through hybrid bonds, equity contributions, and callable capital mechanisms.
Pilot projects and fundraising activities are scheduled to begin in the fourth quarter of 2025, supported by a strong governance framework with independent fund managers, custodians, and auditors.
President Tinubu underscored his commitment to regional development through sustainable, investment-driven initiatives and tasked both the SEDC and SEIC with delivering tangible results that would uplift the south-east and promote national unity through shared prosperity.
Mark Okoye, managing director and CEO of the SEDC, described the SEIC as a transformative step in regional development.
He said the company will serve as a platform to unlock private capital, reduce investment risks, and drive long-term economic growth.
The MG also noted that the SEIC will pursue all required regulatory approvals and adhere to international standards as it prepares for full-scale operations.
