Anambra still repaying debts incurred by administrations of Obi, Obiano — Commissioner
The Anambra State Government has said the administration of Governor Chukwuma Soludo is still servicing loans and other debts incurred by previous administrations, including those of former governors Peter Obi and Willie Obiano. The Commissioner for Finance, Izuchukwu Okafor, disclosed this during a Ndi Anambra podcast uploaded by Anambra State New Media on Monday while Read More:…
The Anambra State Government revealed that the Soludo administration is continuing to service loans and debts inherited from previous administrations, including those of former governors Peter Obi and Willie Obiano. Commissioner for Finance, Izuchukwu Okafor, explained this during a Ndi Anambra podcast on Monday. Okafor stated that the current administration has not borrowed from any commercial bank since taking office but has continued to service loans inherited from previous governments.
He clarified that deductions from the state's Federation Account Allocation Committee funds were made every month to repay these inherited loans. Okafor also mentioned that some of these loans were obtained during the administrations of Obi and Obiano. The Soludo administration has significantly reduced the state's debt burden, bringing it down by more than 83 per cent, and has cleared several inherited domestic obligations, including unpaid contracts, gratuity arrears, and pension arrears. The state's debt-management strategy has created more fiscal space, according to Okafor.
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