Anambra Govt Puts Obi-Era Loan Balance at N127.4bn
The Anambra State Government has disputed claims that the administration of former Governor Peter Obi left the state without outstanding liabilities, saying loans incurred during his tenure remain part of the state’s debt obligations. The state’s Commissioner for Information and Value Reorientation, Law Mefor, cited the latest report of the Debt Management Office, which he said put the balance of loans attributed to the Obi administration at N127.4 billion as of June 30, 2026, based on the official exchange rate. Mefor said the loans were obtained for projects and programmes covering areas including malaria control, erosion management, education and healthcare. According to him, the state government currently spends hundreds of millions of naira monthly to service the debts inherited from previous administrations. He maintained that the government was not opposed to borrowing, provided such funds were used for projects capable of delivering measurable benefits to residents and improving human development.
Mefor argued that having outstanding debt does not necessarily mean a government acted improperly, noting that governments and businesses often rely on borrowing to finance large-scale projects and development programmes. He said the Obi administration could have borrowed for public schools, hospitals, water schemes, infrastructure, poverty reduction and security without criticism if the resulting projects and benefits were clearly demonstrated. “Debt, especially for bankable projects and human capital development, is justifiable,” Mefor said, urging the former governor not to portray all borrowing as inherently negative. The latest comments form part of the wider disagreement between the Anambra government and Obi over the financial position he left behind at the end of his tenure, including questions surrounding loans and other liabilities. The claims by the state government remain part of the ongoing political debate over the management of Anambra’s finances under successive administrations.
#UTVAfrica#
