President Bola Ahmed Tinubu has approved the establishment of the South-East Investment Company (SEIC), a specialized investment vehicle under the South East Development Commission (SEDC).
The initiative, designed to function as an independently governed and privately driven enterprise, marks a significant shift toward sustainable, long-term regional development planning.
The SEIC will focus on attracting private capital, fostering industrial competitiveness, and driving economic transformation in the South-East.
President Tinubu’s approval followed a performance briefing from the SEDC detailing its progress over the last 100 days, alongside a formal request for the creation of a subsidiary dedicated to unlocking long-term financing and implementing transformative initiatives.
At a brief ceremony held at the Presidential Villa in Abuja, the President officially handed over the the Certificate of Incorporation for SEIC to the leadership of the South East Development Commission. The event was attended by the 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.
This initiative was inspired by the legacy of the defunct Eastern Nigeria Development Corporation (ENDC), which under the leadership of Dr. Michael Okpara spearheaded one of the most successful industrial expansions in Nigeria’s history.
According to the presidency, the new company will not rely on annual government budgets but will operate through a private-sector-led structure to ensure financial sustainability, transparency, and efficiency.
The launch of SEIC is expected to pave the way for infrastructure investment, manufacturing clusters, technology hubs, and targeted development across key economic sectors such as agro-processing, logistics, and light industries.
