Tinubu Establishes South-East Investment Firm to Spur Industrial Growth and Private Investment
President Bola Ahmed Tinubu has approved the establishment of the South-East Investment Company (SEIC), a new initiative designed to drive industrial growth and attract long-term private capital to Nigeria’s South-East region.
The Presidency announced the development on Friday via a circular shared on X (formerly Twitter), noting that the SEIC will serve as an investment arm under the newly constituted South East Development Commission (SEDC).
According to the circular, the SEIC will focus on unlocking regional competitiveness, accelerating industrialisation, and mobilising private sector investment in key sectors across the South-East. The decision follows the submission of the SEDC’s 100-day performance report and a formal proposal for the creation of an investment-focused subsidiary.
“The President’s decision aligns with the Renewed Hope Agenda and reflects the administration’s commitment to equitable development and regional economic inclusion,” the circular stated.
The SEIC will operate independently of the federal budget and be managed as a private-sector-led and professionally governed entity. It is modeled after the historic Eastern Nigeria Development Corporation (ENDC), which was credited with spearheading industrial transformation in the old Eastern Region under the leadership of Dr. Michael Okpara.
Critics, however, have voiced concerns that similar past efforts were marred by inefficiency and poor execution under the guise of public-private partnerships.
“The SEIC is envisioned as a professionally governed, private-sector-led investment company operating independently of annual government budgets,” the Presidency said.
At the official launch ceremony, President Tinubu personally presented the Certificate of Incorporation to the SEDC leadership. Attendees included the Minister of Regional Development, Engr. Abubakar Momoh, and SEDC Managing Director, Mr. Mark Okoye, among other officials.
President Tinubu has approved the South-East Investment Company to fast-track industrialisation and attract private capital to the region under the South East Development Commission.
