President Bola Ahmed Tinubu has approved the establishment of the South East Investment Company Limited, a new vehicle designed to mobilise resources from the diaspora, capital markets, and development finance institutions to drive development across the South East region of Nigeria.
The approval was announced on Wednesday by Vice President Kashim Shettima during the South-East Vision 2050 Regional Stakeholders’ Forum held in Enugu, where he also officially launched a 25-year development blueprint for the region. The Vice President described the South East as a central pillar of Nigeria’s economic future and said the new framework marked a clear shift from short-term governance cycles to a structured, long-term development approach.
Speaking at the forum, Shettima said the gathering represented a decisive break from reactive planning and underscored the importance of intentional design in shaping the future of the region. “This forum reflects foresight, responsibility, and a shared understanding that the future is not something we wait for, but something we must deliberately design,” he said.
He explained that the creation of the South East Investment Company Limited was informed by the region’s unique strengths, including its strong entrepreneurial culture, wide-reaching global diaspora, and long-standing engagement with international capital. “In recognition of the distinctive character of the South-East, its entrepreneurial spirit, its global diaspora, and its long-standing relationship with international capital, President Bola Ahmed Tinubu approved the establishment of the South East Investment Company Limited,” the Vice President stated.
According to him, the new investment company will operate in close synergy with the South-East Development Commission, SEDC, to address postwar infrastructure gaps and strengthen the region’s long-term competitiveness. He noted that the approach was not about expanding bureaucracy but about creating institutions that deliver measurable outcomes.
Senator Shettima reaffirmed that the SEDC was conceived to focus on structural transformation rather than routine administrative functions, stressing that balanced national growth depends on the prosperity of individual regions. “Let me be clear. This is not another layer of bureaucracy. It is a delivery institution, focused on tangible outcomes that translate into jobs, productivity, and growth,” he said.
He also acknowledged the historical context of the South East, noting that the region carries a unique postwar burden that makes deliberate and coordinated regional planning both urgent and necessary. According to him, sustained development requires institutions that can outlive political cycles and remain focused on long-term goals.
The Vice President praised the inclusive nature of the South-East Vision 2050 forum, which brought together representatives from the federal and state governments, traditional institutions, the private sector, civil society organisations, development partners, and diaspora groups. He said the broad participation reflected a shared commitment to the future of the region.
Shettima specifically acknowledged the presence of Umu Igbo Unite, a United States–based network of more than 10,000 young professionals, highlighting the role of the diaspora in regional development. “The future of the South-East will be built both at home and abroad, together,” he said.
Addressing young people directly, the Vice President stressed that development must go beyond policy documents and be reflected in everyday life. “To the young people of the South-East and of Nigeria as a whole, let me speak plainly. You are not spectators in our national journey. You are central to it. Your energy, creativity, and ambition are essential to the Nigeria we are working to build,” he said.
He added that development should no longer remain an abstract promise. “Development must not remain an abstract promise. It must be felt in the daily lives of our people,” Shettima said, calling for practical outcomes that create opportunities and improve livelihoods.
Earlier in the forum, Governor Peter Mbah of Enugu State, speaking on behalf of leaders in the region, endorsed the South East Vision 2050 and described it as an opportunity for the region to align with the national development agenda tagged Vision 2060. He said the framework provides a clear pathway for the South East to play a stronger role in Nigeria’s long-term economic transformation.
Governor Mbah applauded the unity of purpose among political leaders and stakeholders across the region, describing the moment as historic. He proposed the creation of a South East common market to boost intra-regional trade and economic cooperation, referring to the development as the awakening of an economic giant.
On the idea of reimagining the South East as a unified economic bloc, Mbah said sustained focus on shared ideas, pooled resources, and a change in mindset among leaders and citizens was essential. He stressed that development planning must move beyond fragmented efforts and embrace regional synergy.
He urged a paradigm shift in how projects are planned and executed across the South East, calling for more strategic coordination and accountability. The governor also called on residents of the region to support the Federal Government’s renewed efforts to improve security, saying safety of lives and livelihoods was critical to inclusive development.
Mbah thanked the Vice President for his presence and commitment, noting that it reinforced the principle that sustainable regional development thrives on strong national leadership. According to him, the participation of the Vice President showed that the South East’s development agenda enjoys support at the highest level of government.
In his remarks, Governor Francis Nwifuru of Ebonyi State pledged the full support of his administration for the implementation of the South East development plan. He said the vision would help close unemployment and poverty gaps while unlocking economic potential across multiple sectors in the region.
Governor Nwifuru explained that Ebonyi State was building on the foundation laid by previous administrations in key areas such as agriculture and agribusiness, education, and solid mineral development. He said his government was pursuing a roadmap to transform Ebonyi into a hub of rural development within the South East.
Also speaking, Governor Alex Otti of Abia State expressed satisfaction over the unanimous adoption of the South East Vision 2050 by stakeholders from both the public and private sectors. He described the summit as closely linked to the economic revolution and transformation of the region.
Citing examples of transparent governance in Abia State, Governor Otti said the South East has abundant solid minerals and natural resources that can drive industrialisation. He stressed that economic transformation was achievable with committed leadership and transparent execution of development plans.
For his part, Governor Charles Soludo of Anambra State thanked President Tinubu for creating the SEDC, describing it as a long-awaited initiative that stakeholders in the region had clamoured for over the years. He said the commission represented a significant step toward addressing long-standing development gaps.
Soludo described the discussions around the Vision 2050 framework as historic, noting that it was the first time governors and other leaders across the South East were united around a single development roadmap. He said the shared framework would guide policy decisions and investments over the next 25 years.
In a keynote address, the Resident Representative of the United Nations Development Programme, Mrs Elsie Attafuah, spoke on global lessons in long-term regional planning and the importance of institutional capacity for sustainable implementation in complex environments.
She said genuine industrialisation requires that infrastructure development be closely linked to domestic production. According to her, roads, power, and transport systems must serve local industries and value chains to deliver lasting economic benefits.
Attafuah urged stakeholders to ensure cutting-edge execution of the Vision 2050 framework and emphasised the need to harness the comparative advantages of individual southeastern states. She said sustainability of development gains depends on aligning policies, institutions, and investments.
The Minister of Regional Development, Engr Abubakar Momoh, described the forum as a crowning moment in the development journey of the South East. He said it marked a new phase in fostering unity and shared prosperity across the region.
Momoh said the creation of the SEDC by the Tinubu administration demonstrated an institutional commitment to coordinated and targeted regional transformation. He highlighted plans to revitalise critical infrastructure, including rail transport and commodity ecosystems, as part of the broader agenda.
Also speaking, the Minister of Trade and Investment, Dr Jumoke Oduwole, underscored the importance of aligning resources and efforts, which she said was a key priority of the South East Vision 2050 programme. She pledged the support of her ministry for the initiative.
Dr Oduwole announced the launch of a nationwide trade facilitation tour aimed at boosting export potential across Nigeria. She described the South East as the springboard for Nigeria’s industrial transformation, citing its manufacturing base and entrepreneurial capacity.
In a goodwill message, the President of Ohanaeze Ndigbo World Wide, Senator Azuta Mbata, commended the Federal Government for prioritising regional integration and development through the summit. He said inclusion of the South East in the national development agenda was critical.
Mbata pledged the support of the people of the region for the Vision 2050 aspirations and the Renewed Hope Agenda of President Tinubu’s administration, saying collective commitment was needed to achieve the outlined goals.
The Chairman of the South East Development Commission, Sir Emeka Wogu, thanked President Tinubu for his commitment to the progress of the South East and its people. He said the Vision 2050 framework was designed to ensure continuity and coordination across successive administrations.
Wogu explained that the vision promotes synergy among state governments and provides a common direction for development efforts across the region.
The Managing Director of the SEDC, Mr Mark Okoye, also thanked the President for establishing the commission as a special purpose vehicle for economic transformation. He said the commission would work closely with state governments, the diaspora community, and the organised private sector.
According to Okoye, the SEDC will focus on infrastructure, power, peace building, and connectivity as part of efforts to chart a shared path to sustainable prosperity for South East Nigeria.
The forum also featured goodwill messages from representatives of corporate bodies, the Manufacturers Association of Nigeria, faith-based organisations, youth groups, diaspora communities, and development partners.
The Vice President, accompanied by governors of the South East states and other dignitaries, later toured an exhibition gallery mounted by the Director-General of the National Council for Arts and Culture.
