Anambra: We’re Still Repaying Loans Borrowed Under Obi, others

The Anambra State Government continues to service loans taken out during previous administrations, including the tenure of former governor Peter Obi, according to the state's Commissioner for Finance, Izuchukwu Okafor. Deductions for these inherited obligations are still being made from the state's federal allocation, as revealed during a recent podcast discussion.

Okafor's comments came amid a long-standing dispute over Anambra's financial position at the end of Obi's tenure in 2014. While Obi's camp maintains that he left the state with substantial cash and investments and did not leave it indebted, official debt records show that Anambra had outstanding formal debt obligations of about $30.3 million and N3 billion as of December 2013.

The financial dispute has resurfaced under the current Soludo administration, which claims to have reduced the state's overall debt by over 83 percent since taking office in 2022. Okafor emphasized that the state has cleared most of its domestic liabilities, including unpaid contracts, gratuities, and pensions, and has recently repaid a facility obtained from the Central Bank of Nigeria under the Commercial Agriculture Credit Scheme.

However, the controversy also extends to the assets Obi claimed to have left behind, with fact-checkers noting that no conclusive document establishes the exact figure of $150 million. The financial debate has become increasingly political, with Obi and Soludo, both prominent figures ahead of the 2027 elections, engaging in public clashes.