Obi Mourns Olu Jacobs as Anambra Defends N127.4bn Debt Claim

Peter Obi, presidential candidate of the Nigeria Democratic Congress, NDC, has paid tribute to veteran actor Olu Jacobs, even as his disagreement with the Anambra State Government over the state’s inherited debts continues.

Obi, in a statement shared on his X handle on Thursday, described Jacobs as an embodiment of excellence in Nigeria’s creative industry and condoled with his family, friends, colleagues and the wider creative community.

The tribute was issued amid a dispute over loans and other financial obligations allegedly linked to Obi’s eight-year tenure as governor of Anambra State.

Obi had earlier challenged the state government to substantiate its claims that he left debts behind, saying he would stop campaigning if the allegations were established.

The former governor made the statement on Monday while reacting to claims that his administration left inherited liabilities, including a N2 billion ecological loan.

He described the allegations as false and said his administration cleared more than N35 billion in historical gratuities and arrears.

Obi also insisted that he left office without outstanding salaries, gratuities or pensions, adding that contractors had been paid for projects that were executed and certified.

Regarding the N2 billion ecological fund, he explained that the money was released roughly three months before the end of his tenure to tackle the Oko/Umuchiana erosion crisis.

He said he intentionally left the funds for his successor because they were earmarked for the specific project.

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

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

The Anambra State Government, however, rejected Obi’s position.

Commissioner for Information and Value Reorientation, Dr Law Mefor, said the administration of Governor Chukwuma Soludo had paid about N22 billion in inherited gratuity arrears owed to retired state and local government employees and teachers.

Mefor said the government would not enter into a dispute over which administration paid particular arrears, but maintained that some liabilities inherited from earlier governments were still outstanding.

He cited salary arrears owed to employees of the defunct Water Corporation, which he said remained unresolved throughout Obi’s tenure.

He further 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.

Mefor said the current government was recently informed that the Obi administration had verified and certified 16 months of salary arrears and agreed to settle them in instalments.

“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.

“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.

The commissioner also cited the latest Debt Management Office report, saying it put the outstanding balance of loans attributed to the Obi administration at N127.4 billion as of June 30, 2026, based on the official exchange rate.

According to Mefor, the loans covered areas such as malaria control, erosion management, education and healthcare, with the state government servicing the obligations monthly.

He maintained that the Soludo administration was not opposed to borrowing when loans were deployed to bankable projects and human capital development.

“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.

Mefor added that the state would have no objection to borrowing if the funds were used to improve public schools and hospitals, water schemes and infrastructure, or tackle poverty and insecurity.

Obi’s Tribute to Olu Jacobs

In his tribute, Obi described Olu Jacobs as representing “the excellence of the Nigerian spirit” through his impact on the film and creative industry.

He said the veteran actor demonstrated talent, discipline, professionalism and dedication throughout his decades-long career in Britain and Nigeria.

Obi said Jacobs’ death also served as a reminder of the need for people to make meaningful contributions to society while entrusted with responsibilities.

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

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

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