President Bola Ahmed Tinubu has approved the establishment of the South-East Investment Company (SEIC) under the South-East Development Commission (SEDC) to accelerate industrialisation across Abia, Anambra, Ebonyi, Enugu, and Imo states. This marks a historic moment, as Tinubu becomes the first Nigerian president in over 50 years to respond to the South-East’s call for a regional development framework.
The SEIC is expected to mobilise an initial asset base of $1 billion by 2035, while a $50 million Venture Capital Fund will support local startups and small businesses. The initiative aims to attract private sector and diaspora investments into infrastructure, energy, agro-processing, and technology-driven enterprises across the region. It is part of the SEDC’s broader vision to build a $200 billion regional economy.
President Tinubu has directed the commission to move swiftly in implementing the investment plan, aligning with his Renewed Hope agenda for national economic growth. The Managing Director of SEDC, Mark Okoye, praised the president’s commitment, noting that the new investment vehicle will deliver bankable projects that create jobs, boost productivity, and unlock the South-East’s full economic potential.
