Former Anambra State Governor and presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has rejected claims by the Anambra State Government that his administration left behind about N127.4 billion in outstanding external debt.
Obi, who spoke on Arise TV’s Prime Time programme on Thursday, said he left office in March 2014 without borrowing from any financial institution or issuing bonds on behalf of the state.
He also maintained that his administration did not leave behind unpaid salaries, pensions or gratuities due from the state government, or outstanding payments to contractors and suppliers whose jobs had been completed, verified and certified.
The dispute followed claims by the state government that eight external financing facilities contracted during Obi’s tenure had a combined value of $123.77 million, with $92.35 million, equivalent to about N127.4 billion, still outstanding as of June 30, 2026.
Obi, however, disputed the description of the facilities as conventional loans obtained by his administration. He said several were multilateral development programmes negotiated by the Federal Government, with Anambra among the participating states.
According to him, some of the facilities involved institutions such as the World Bank and the International Fund for Agricultural Development, with funds accessed through arrangements involving the Federal Government.
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He argued that the total amount approved for a facility should not automatically be treated as debt if the money was not fully drawn.
“Each facility must be examined in light of its approval, effectiveness, drawdown, and repayment record,” Obi said.
He also cited figures attributed to the Debt Management Office, saying Anambra’s external debt stood at about $30 million when he left office in March 2014.
The Anambra Government has maintained that the eight facilities remain liabilities of the state, regardless of whether they were federally guaranteed or accessed through development-financing arrangements. It said the facilities were used to fund projects in areas including education, healthcare, erosion control and malaria prevention.
The two sides have also disagreed over Obi’s claim that his administration left more than N2.13 billion in an ecological fund account. The state government has disputed the claim, saying its records did not support the description of the account as an ecological fund.
Obi has equally rejected allegations that his administration left salary, pension and gratuity arrears, including liabilities involving workers of the state Water Corporation.
He said his disagreement was with the financial claims and not with Governor Chukwuma Soludo, whom he described as his “dear elder brother.”
At the heart of the controversy is the interpretation of the eight development-financing facilities, including the amounts approved, funds actually drawn, timing of disbursements, and the repayment obligations inherited by subsequent administrations.
