Anambra approves N200bn investment corporation, releases N315m for power restoration

By Vincent Ujumadu
The Anambra State Executive Council has approved a capital base of N200 billion for the establishment of the Anambra Development and Investment Corporation (ADIC), with the state government committing 30 per cent of the capital.
The state’s Commissioner for Information and Value Reformation, Dr. Law Mefor, disclosed this after the Executive Council meeting, stating that the government had also approved the transfer of identified key state assets to the corporation.
According to him, ADIC will soon launch a public-private partnership initiative to mobilise development financing and attract investment into the state.
“Effective immediately, ADIC will operate as a ...