Anambra State Government says it is still repaying loans and other debts incurred by previous administrations, including those of former governors Peter Obi and Willie Obiano. Finance Commissioner Izuchukwu Okafor makes the disclosure on the Ndi Anambra podcast released by the state’s New Media team.
Okafor says the current administration under Governor Chukwuma Soludo is not taking new loans from commercial banks, but monthly deductions are made from the state’s Federation Account Allocation Committee (FAAC) allocations to service inherited borrowing. He adds that repayments on some external loans are linked to automatic deductions from federal allocations under loan covenants.
Across the reports, outlets focus on the same core points: debt service continues despite Soludo’s claim of no new commercial borrowing, and the government highlights progress in reducing the overall debt burden, including clearing some domestic obligations such as unpaid contracts and arrears related to gratuities and pensions. One outlet also notes the state recently paid off a named external debt (CAGS), which officials say creates additional fiscal space. The claims are presented in the context of earlier political statements, including assertions by Obi during his 2022 presidential campaign.
