President Bola Tinubu has approved the establishment of the South-East Investment Company (SEIC), a new initiative under the South East Development Commission (SEDC) aimed at accelerating industrial development and economic growth in the South-East region.
The decision follows a review of the SEDC’s 100-day performance report and its proposal for a dedicated investment entity to secure long-term funding and drive transformative economic projects.
The SEIC will operate as an independent, private-sector-led investment entity, free from reliance on annual government budgets. Drawing inspiration from the Eastern Nigeria Development Corporation (ENDC) under Dr. Michael Okpara’s leadership, the SEIC will focus on harnessing private capital, fostering innovation, and enhancing regional competitiveness through strategic economic planning.
At a brief ceremony in the State House, President Tinubu presented the SEIC’s Certificate of Incorporation to the SEDC.
The event was attended by the Minister of Regional Development, Engr. Abubakar Momoh, SEDC Managing Director/CEO, Mr. Mark Okoye, and members of the Commission’s Executive Management Team.
The initiative underscores a commitment to leveraging regional strengths and fostering private-sector collaboration to drive sustainable industrial transformation in the South-East.
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