Editorial clarification: Reports published on 21 October 2026 describe Anambra’s ₦70 billion request as an application to the Federal Government’s Stabilisation Fund, undergoing technical review by the Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC). They do not establish that it is an approved domestic loan or set out repayment terms. Kingsley Ubani’s description of the request as borrowing is his interpretation, not a verified finding of Anambra Socials.

In this contributed opinion, Kingsley Ubani questions the administration’s financial priorities and contrasts its request for support with the proposed second airport development. His submitted argument appears below.

Kingsley Ubani’s opinion

Anambra State Government's financial request means one thing, the state is about to take a domestic loan of N70bn

Now it all makes sense why the Professor Soludo led administration was recently trying to 'expose' Peter Obi's supposed borrowings during his tenure.

You know I will not report this news the way others will. It is my opinion that Professor Soludo needed to borrow, and accusing Obi of taking loans would give him a soft landing.

I am however worried that among the reasons the state government gave for this fund request, nothing was said about the controversial SECOND AIRPORT project, which is the biggest project the state currently has at hand.

According to media report, the Secretary to the Anambra State Government, Chiamaka Nnake, who led the fund request presentation to FG, “said that the proposed assistance would complement existing government investments, sustain essential public services, protect livelihoods, improve investor confidence and promote a more diversified and resilient economy.”

"Nnake identified insecurity, erosion, flooding, inflation and the rising cost of public services as major pressures on the state’s finances."

"She explained that sit-at-home orders and restrictions on movement had disrupted commercial activities, reduced government revenue and weakened investor confidence, particularly in major economic centres such as Awka, Onitsha and Nnewi."

"The SSG disclosed that the state had introduced a Homeland Security Law, established a security outfit and strengthened collaboration through a joint task force."

"She said additional funding would support the procurement of operational vehicles, surveillance and communication equipment, personnel training and improved coordination among security agencies."

I'm really surprised that Anambra, a state that is on its way towards owning a second airport in five years, is seeking financial support to procure operational vehicles, surveillance and communication equipment for its state owned security outfit.

Kingsley Ubani

What the published reporting establishes

Voice of Nigeria’s 21 October report says RMAFC is assessing the application and that the technical review is not automatic approval. The reported assessment includes the state’s financial documents, proposed projects and their expected benefits.

Punch’s account contains the remarks about security equipment and fiscal pressures cited in the contribution. These are reported statements attributed to Nnake, rather than a direct interview conducted by Anambra Socials.

The reports reviewed do not identify an airport allocation within the request. Their summaries alone do not establish everything contained in the state’s complete submission. This article has not independently established the airport project’s comparative size or a completion date.

For the state’s published explanation of the airport-centred proposal and the questions surrounding its economic case, read our earlier commentary on Anambra’s second airport project.

Sources and reporting basis

Editor’s note: This is an opinion article by Kingsley Ubani. His assessments of the administration’s political motives and spending priorities represent his views. The reported funding request does not, by itself, establish a domestic borrowing agreement, approval or disbursement. Anambra Socials has added the editorial clarification and reporting context separately from the contributor’s text. No causal connection between the request and the political dispute over Peter Obi’s financial record has been established here.