Peter Obi mourns Olu Jacobs, silent on N127bn Anambra debt

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By Nwafor Sunday Polycarp, Online News Editor

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Peter Obi, presidential candidate of the Nigeria Democratic Congress, NDC, has mourned veteran actor, Olu Jacobs, amid an ongoing dispute with the Anambra State Government over loans and other financial liabilities allegedly incurred during his tenure as governor of the state.

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Obi, in a statement posted on his X handle on Thursday, described Jacobs as a symbol of excellence in the Nigerian creative industry and expressed condolences to his family, friends, colleagues and the wider Nigerian creative community.

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His tribute came as the Anambra State Government maintained that his administration left behind financial liabilities, including loans, salary arrears, pensions and gratuities.

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Obi had earlier challenged the state government to prove that he left outstanding debts in the state, saying he would stop campaigning if such liabilities could be established.

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He made the challenge in a statement posted on his official social media page on Monday, while responding to claims by the Anambra State Government that his administration left inherited debts, including a N2 billion ecological loan.

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Obi dismissed the claims as false, saying his administration cleared historical gratuities and arrears worth more than N35 billion.

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He said there were no outstanding salaries, gratuities or pensions when he handed over power, adding that contractors had also been paid for projects that were duly executed and certified.

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On the N2 billion ecological fund, Obi said the money was released about three months before the end of his tenure for the Oko/Umuchiana erosion crisis.

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He said he deliberately left the money for his successor because it was tied to a specific project.

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According to Obi, the ecological fund was separate from more than N75 billion in savings he claimed his administration left behind.

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“If anybody can establish anything to the contrary, I will stop campaigning,” Obi said.

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However, the state government, through the Commissioner for Information and Value Reorientation, Dr Law Mefor, disputed Obi’s position.

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Mefor said the administration of Governor Chukwuma Soludo had cleared about N22 billion in inherited gratuity arrears owed to retired state and local government employees and teachers.

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He said the government would not engage in a debate over which administration paid particular arrears, but maintained that some legacy liabilities dating back to previous administrations remained outstanding.

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Mefor cited salary arrears owed to workers of the defunct Water Corporation, which he said persisted throughout Obi’s tenure.

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He also said salary, pension and gratuity arrears owed to primary school teachers under the local government system dated back to the administration of the late Governor Chinwoke Mbadinuju.

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According to him, the present administration was recently informed that the Obi administration had verified and certified 16 months of salary arrears and agreed to pay them in tranches.

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“We have been informed that the government of HE Peter Obi verified and certified the debt of 16 months of salary arrears and agreed to pay in tranches.

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“It only paid five months and no more until today. This administration has set up a committee headed by the Head of Service to finalise a new verification for us to pay,” Mefor said.

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Mefor further cited the latest report of the Debt Management Office, DMO, saying the total balance of loans attributed to the Obi administration stood at N127.4 billion as of June 30, 2026, based on the official exchange rate.

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He said the loans were obtained for areas including malaria control, erosion management, education and healthcare, adding that the state government was servicing the debts monthly.

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Mefor said the state government was not opposed to borrowing where funds were used for bankable projects and human capital development.

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“Hardly any government in the world has zero debt stock. The issue is not whether or not borrowing is good: no business or government can scale significantly without some debt,” he said.

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He added that the state would not have objected to borrowing if the funds were used to improve public schools and hospitals, water schemes and infrastructure or reduce poverty and insecurity.

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Meanwhile, in his tribute to Jacobs, Obi said the actor represented “the excellence of the Nigerian spirit” through his contributions to the film and creative industry.

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He said Jacobs demonstrated the importance of talent, discipline, professionalism and dedication throughout a career spanning several decades in Britain and Nigeria.

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Obi said the actor’s death was a reminder that people should make meaningful contributions to society while entrusted with responsibilities.

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He prayed for the repose of Jacobs’ soul and for strength for his family, friends, colleagues and the Nigerian creative community.

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“May the good Lord grant our father, Olu Jacobs, and all the faithful departed eternal rest. Amen,” he said.

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