President Bola Ahmed Tinubu has granted executive approval for the establishment of the South-East Investment Company (SEIC).

The SEIC which is under the South-East Development Commission (SEDC) inaugurated earlier this year, is expected to drive private capital, accelerate industrialisation, and enhance competitiveness in the region.

A statement by the presidency yesterday, said the SEIC will function as a professionally governed, private-sector-led institution, operating independently of annual federal budget cycles.

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 statement added that the SEIC will oversee a range of targeted investment portfolios, including infrastructure, entrepreneurship, education, and other strategic interventions.

?With a projected blended capital base of over 150 billion, SEIC will mobilise resources through hybrid bonds, equity participation, and callable capital structures,? the statement reads.

?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, 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.

On his part, Managing Director (MD) and Chief Executive Officer (CEO) of SEDC, Mark Okoye, said the investment company 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,? Okoye said.

?We are building an institution that will stand the test of time and serve as a bridge between government priorities and private sector efficiency.?

Okoye also said 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. (The Nation)

Update news