‘Find Anyone I Owed, I’ll Quit 2027’ – Obi Challenges Anambra Govt Over Loans

Peter Obi, former Anambra State governor and presidential candidate of the Nigeria Democratic Congress, NDC, has challenged the Anambra State Government to produce anyone he allegedly owed when he left office.

Obi made the challenge after the state government said it was still servicing loans and other financial obligations inherited from previous administrations, including those linked to his tenure.

The former governor said he left office without owing salaries, pensions, gratuities, contractors or suppliers.

He also attached a political consequence to any evidence that he left behind unpaid obligations.

Obi said, “I left office as Governor nearly 13 years ago. On the day I left office, I was not owing any salaries, pensions, gratuities or any money that the Anambra State Government was supposed to pay.

“I did not owe a single supplier or contractor. If you find even one person I owed, I will end my 2027 campaign today.”

The statement followed comments by Anambra State Commissioner for Finance, Izuchukwu Okafor, on the state’s inherited debt profile.

Okafor had said the administration of Governor Chukwuma Soludo was still making repayments on loans obtained by previous governments.

He specifically mentioned the administrations of Obi and former governor Willie Obiano.

The commissioner made the disclosure while speaking on the Ndi Anambra podcast released by the state government’s New Media team.

According to him, Anambra continues to experience deductions from its monthly Federation Account Allocation Committee, FAAC, funds because of loans secured by previous administrations.

He said the deductions were visible in the state’s monthly FAAC statements.

The commissioner stated, “Every month during our FAAC meetings, when you see the schedule of FAAC, you will notice there are substantial, significant deductions from our own FAAC because of loans previously borrowed by previous administrations.”

He added, “These loans were borrowed during the time of Peter Obi and Willie Obiano and other past governors.”

The claim has now brought Obi’s financial record as governor back into focus, particularly as the former governor prepares for another presidential contest in 2027.

Obi governed Anambra from 2006 until 2014. He was succeeded by Obiano, who remained in office until 2022.

Soludo took over as governor in March 2022.

Since assuming office, the Soludo administration has repeatedly highlighted debt reduction and financial management as part of its economic programme.

Okafor said the current government had not taken any commercial bank loan since it came into office.

“It’s on record that this administration has not borrowed a kobo from any commercial bank since the inception of this administration,” he said.

He explained that not taking new commercial loans did not mean the state had stopped making repayments.

According to him, some of the obligations inherited by the Soludo administration were structured in a manner that allowed repayments to be deducted from the state’s federal allocations.

The commissioner also claimed that the state’s overall debt profile had fallen by more than 83 per cent since Soludo became governor.

“We have been able to manage the state debt very well, that we have brought it down by more than 83 per cent as of today,” Okafor said.

He said the government had already repaid a substantial portion of the liabilities it inherited.

The commissioner also drew a distinction between conventional loans and other obligations inherited from previous administrations.

He said the state had addressed several domestic liabilities, including unpaid contracts, gratuity arrears and pension arrears.

He further claimed that Anambra’s domestic debt was now almost completely cleared.

“In terms of our domestic debt as of today is near-zero balance,” he said.

However, some external obligations remain.

Okafor explained that repayments on certain foreign-denominated facilities continue because of the agreements attached to those loans.

He mentioned facilities associated with the World Bank and other institutions.

According to him, the repayment arrangements mean that the deductions are made from the state’s federal allocation before the balance is released to the government.

The commissioner also disclosed that the state had recently completed repayment of one of its outstanding debts.

“There is one debt that we recently paid off, CAGS,” he said.

He said clearing inherited obligations had created more financial room for the state government.

“So, in a nutshell, I’ve been able to, you know, create more fiscal space for Anambra State,” Okafor said.