Anambra State Government has released details of external loans it said were inherited from the administration of Peter Obi, the state’s former governor.
Gatekeepers News reports that Law Mefor, the state commissioner for information and value reorientation, said on Wednesday that Obi left office in March 2014 with eight external borrowings still outstanding.
According to Mefor, the outstanding balance of the loans stood at N127.4 billion as of June 30, 2026, when converted at the official exchange rate. He said the loans were obtained for projects covering malaria control, education, healthcare, erosion management, community development and value-chain development.
The commissioner also said the state had made billions of naira in debt-service payments on the loans since Obi left office.
The development followed comments by Izuchukwu Okafor, Anambra commissioner for finance, who said the state was still repaying loans obtained by previous administrations, including those of Obi and Willie Obiano.
Obi had disputed the claim that he left outstanding debts, saying his administration did not owe salaries, pensions or contractors when he left office. He also said he left more than N2.1 billion in ecological funds for the state.
However, Mefor disputed the claim concerning the ecological fund, saying the state government could not find records showing that Anambra received the alleged N2.1 billion during Obi’s eight-year tenure.
The commissioner also said the government’s review was based on audited and published expenditure records and maintained that borrowing could be used to finance development projects.
