The Anambra State Government has put the outstanding balance on eight external loan facilities linked to previous administrations at $92.35 million, valued at N127.37 billion, as of June 30, 2026.
Commissioner for Information and Value Reorientation, Law Mefor, disclosed this in a statement on Wednesday, September 16, amid a renewed dispute with former governor Peter Obi over the state’s finances at the end of his tenure.
Obi handed over to Willie Obiano on March 17, 2014.
Mefor said the facilities, originally valued at $123.77 million, financed projects in malaria control, erosion management, healthcare, education, community development, Fadama development and agricultural value chains.
The government cited $48.33 million in additional financing for the Malaria Control Booster Project, with $37.34 million outstanding as of June 30, 2026. It also listed a $37.89 million Nigeria Erosion and Watershed Management Project facility, with $34.86 million outstanding.
Mefor said the loans were still being serviced by the current administration.
The disclosure followed Obi’s rejection of claims that his administration left unpaid salaries, pensions, gratuities and other liabilities.
Obi said his administration cleared more than N35 billion in historical gratuities and arrears and handed over without outstanding obligations to workers, pensioners or contractors for duly executed and certified projects.
Mefor countered that the Soludo administration inherited about N22 billion in gratuity arrears owed to retired state and local government employees and teachers.
He also alleged that workers of the defunct Anambra State Water Corporation had salary arrears after the 2014 handover. According to him, the current administration negotiated a three-instalment settlement and has paid two instalments.
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Mefor further claimed that some primary school teachers had salary, pension and gratuity arrears dating back to former governor Chinwoke Mbadinuju’s administration. He said 16 months were verified during Obi’s tenure, but only five months were paid.
N2.13bn Ecological Fund Dispute
The government also disputed Obi’s claim that he left N2.13 billion for the Oko/Umuchiana erosion project.
Obi said the money was released shortly before he left office and deliberately preserved for his successor because it was earmarked for the project. He identified a First Bank account as the repository.
Mefor said a certified statement showed no record of the amount as either an inflow or balance. He said the account was an internally generated revenue consolidated account, not an ecological fund account, and challenged Obi to explain where the money was kept.
The government also disputed Obi’s claim that his administration left more than N75 billion in savings and investments, without providing a detailed alternative breakdown.
The dispute echoes an earlier disagreement between Obi and Obiano over the funds and liabilities transferred at the 2014 handover.
Official records offer a separate snapshot of Anambra’s debt position before the transition. The Debt Management Office recorded the state’s external debt stock at $30.32 million as of December 31, 2013.
The figure differs in date and scope from the N127.37 billion cited by the state in 2026, which represents the government’s stated outstanding balance on eight identified facilities as of June 30, 2026.
The latest exchange has again placed Anambra’s financial records at the centre of a dispute between Obi and the state government, with both sides maintaining conflicting accounts of the obligations and resources associated with the 2014 transition.