Anambra approves N200bn investment corporation, releases N315m for power restoration

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By Vincent Ujumadu

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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.

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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.

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According to him, ADIC will soon launch a public-private partnership initiative to mobilise development financing and attract investment into the state.

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“Effective immediately, ADIC will operate as a highly favourable platform for both individual and corporate investors,” Mefor said.

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The Council also approved the commencement of Code Anambra Talents Mastery Cohort 2 under the Solution Innovation District (SID), following the success of the first cohort.

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Mefor said the decision was informed by the abundance of technology talent in the state and the increasing global demand for digital skills and innovation.

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The Solution Innovation District is the Soludo administration’s technology and innovation hub, established to train, incubate, mentor and support innovators, startups, technology companies and entrepreneurs in developing solutions for the state’s growth and technological advancement.

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The commissioner further announced that the state government had reaffirmed the state of emergency on the environment in response to widespread environmental degradation.

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As part of enforcement measures, he said there would be a statewide environmental sanitation exercise on Saturday, July 4, 2026, from 6:00 a.m. to 10:00 a.m., during which communities and businesses across the state would observe a temporary lockdown.

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According to him, the sanitation exercise will mark the commencement of a statewide desilting and waste evacuation campaign aimed at tackling flooding.

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Meanwhile, the Executive Council also approved the release of N315,460,777.41 for the restoration of electricity to parts of Uli community in Ihiala Local Government Area and the Chukwuemeka Odumegwu Ojukwu University, Chinweoke Mbadinuju Campus, Uli.

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