By PRESIDENT Bola Tinubu has granted executive approval for the establishment of the South-East Investment Company (SEIC).
The SEIC, which is under the South-East Development Commission (SEDC) inaugurated earlier this year, is expected to drive private capital, accelerate industrialisation, and enhance competitiveness in the region.
A statement by the presidency on Friday, said the SEIC will function as a professionally-governed, private-sector-led institution, operating, independently, of annual federal budget cycles.
President Bola Tinubu
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 statement added that the SEIC will oversee a range of targeted investment portfolios, including infrastructure, entrepreneurship, education, and other strategic interventions.
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