The Anambra State Government says the current administration is servicing debts, with hundreds of millions of naira reportedly spent every month on debt repayment, borrowed by the dormer State governor, Peter Obi for projects in areas including malaria control, erosion management, education and healthcare.
The state government said it does not object to borrowing when the funds are used for projects that deliver tangible benefits to the people. According to the government, the key issue is being able to identify and demonstrate the impact of the projects for which the loans were obtained.
It also suggested that debt itself should not automatically be viewed negatively if the borrowed funds are invested in projects that improve the lives of residents and contribute to the development of the state.
The comments come amid discussions over Anambra’s existing debt obligations and the legacy of projects undertaken by previous administrations. The state government maintained that what matters is whether the borrowing produced visible and lasting results for the people of Anambra.
