Tinubu Approves South-East Investment Company, Presidency Shares Details, “N150Bn Capital Base”

• The federal government, led by President Tinubu, has approved the establishment of the South-East Investment Company (SEIC)
• SEIC is an investment vehicle under the newly constituted South East Development Commission (SEDC), inaugurated earlier this year, aimed at driving regional industrialisation
• The Presidency confirmed this in a statement released on Friday via X that has stirred mixed reactions in the polity

Legit.ng journalist Esther Odili has over two years of experience covering political parties and movements.

State House, Abuja - President Bola Ahmed Tinubu-led administration 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 industrialisation and unlocking private sector growth across Nigeria’s South-East region.

The presidency announced this in a statement released on its official page on X on Friday, July 18.

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.

“With a projected blended capital base of over 150 billion, SEIC will mobilise resources through hybrid bonds, equity participation, and callable capital structures,” the statement reads.

“Pilot investments and structured fundraising activities are expected to commence in Q4 2025, supported by strong governance systems including independent fund managers, custodians, and auditors.”

Nigerians react as Tinubu approves South-East investment vehicle

As usual, Nigerians have reacted to the development. Legit.ng compiled a few reactions from the comment section on X below;

@lemcy4sure tweeted:

"Mumu man."

@Ozigees tweeted:

"It is now important to focus on the South East."

@OlapadeOlamile8 tweeted:

"Kudos to President Tinubu for approving the South-East Investment Vehicle to catalyse regional industrialisation! This strategic move will undoubtedly boost economic growth, create jobs, and improve living standards in the South-East by investing in the region's potential."

@izuchukwufranky tweeted:

"Nice one, much needed."

@OpeifaLukman tweeted:

"Is Mr. President our problem in this country or we Nigerians?"

@wisdom_nwoke22 tweeted:

"Good moves , who will now monitor those funds?"

Read more about Tinubu, southeast here:

• 2027 elections: Tinubu gets boost in Southeast as Group mobilises grassroots support in Ebonyi
• "Landmark achievement": Reactions as Tinubu signs Southeast Development Commission Bill into law
• "The president has tried": Deputy Speaker Kalu mentions major achievements of Igbos under Tinubu
• Tinubu promises to complete Eastern Rail line connecting Port Harcourt to Maiduguri
• Tinubu urged to create Anioma state

Umahi urges Southeast govs to support Tinubu

In a related development, Legit.ng reported that Dave Umahi, the minister of works, has pleaded with Governor Alex Otti of Abia state and the entire southeast to, irrespective of party affiliation, stand with President Tinubu.

Umahi made this plea on Thursday, June 19, during a visit to Otti in his office, following an inspection of ongoing federal road projects in the state; projects expected to be inaugurated by the president later in 2025.

The minister who appreciated the good and long-standing relationship between Tinubu and Otti, noted that the president is doing many projects in the southeast region.

Source: Legit.ng