Governor Chukwuma Soludo of Anambra State has approved the reformation of the Anambra State Investment Promotion and Protection Agency (ANSIPPA) into the Anambra Development and Investment Corporation (ADIC).
The new corporation which is a brainchild of Governor Soludo will be empowered to attract, finance and oversee business and infrastructure projects aimed at developing and enhancing the business climate in Anambra State.
Establishment Process
The landmark establishment of the Anambra State Development and Investment Corporation by the Anambra State Government was advised by Stren & Blan Partners who acted as external counsel to the Anambra State Investment Promotion and Protection Agency (ANSIPPA).
The firm played a pivotal role in the comprehensive restructuring of ANSIPPA into the newly established Anambra State Development and Investment Corporation (ADIC), a corporation structured to attract foreign and local investment into the State for the development of key infrastructural projects.
It was involved in the conceptualisation, legal design, and development of a regulatory framework for ADIC as a private-sector,commercially oriented and professionally managed investment corporation typified by a structure that ensures operational independence, corporate governance, and financial sustainability—critical elements necessary to insulate ADIC from bureaucratic constraints and political interference.
The law establishing the corporation, the Anambra State Development and Investment Corporation Law, 2025 was part of six bills recently signed into law by Governor Soludo. The ADIC Law introduces an innovative governance and investment framework that aligns with global best practices while remaining responsive to the unique socio-economic goals of the State. It empowers ADIC to mobilise capital from both public and private sources, including the vibrant Anambra diaspora.
The other laws signed into law are the Anambra State Electricity Law, 2025, which are anticipated to bolster the state’s economic landscape and energy infrastructure, the Anambra State Homeland Security (Amendment) Law, 2025, aimed at enhancing safety protocols, the Anambra State Herbal Practice Law and the Anambra State Indigenous Traditional Medicine Practices Law, both set for 2024 and 2025 respectively, which seek to integrate traditional healthcare practices into the state’s medical framework in addition to the Anambra State Mission Schools of Nursing and Midwifery (Amendment No. 2) Law, 2025, which intends to improve nursing and midwifery education standards within the state.
