Business
Tinubu Approves Establishment of South-East Investment Company
Under Tinubu, a blueprint for Nigeria’s consumer credit economy is quietly unfolding with the recent approval for the establishment of South-East Investment Company (SEIC).
President Bola Ahmed Tinubu has approved the establishment of the South-East Investment Company (SEIC), a federally backed investment vehicle with a projected capital base of N150 billion aimed at accelerating industrialization and unlocking private sector growth across Nigeria’s South-East region.
The announcement was made in a statement published on Friday via the official handle of the Presidency of the Federal Republic of Nigeria.
According to the statement, the SEIC will operate as a subsidiary of the South East Development Commission (SEDC) and is structured to mobilise private capital, drive long-term economic transformation, and promote inclusive development in the region.
Initially, 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 SEIC will oversee a range of targeted investment portfolios, including infrastructure, entrepreneurship, education, and other strategic interventions.
