Former Anambra State Governor Peter Obi has challenged the state government’s account of loans linked to his tenure, insisting that he left office in 2014 with more than $150 million in funds and did not personally borrow money on behalf of the state.
Obi, the 2027 presidential candidate of the Nigeria Democratic Congress (NDC), made the clarification during an interview on Arise News’ Prime Time on Thursday, days after the Anambra State Government released records showing eight external loans totalling about $123.7 million were contracted between 2007 and 2013, with $92.35 million still outstanding as of June 2026.
He said the facilities cited by the state were concessionary development funds obtained by the Federal Government and made available to qualifying states for specific projects, rather than loans he independently secured from financial institutions. Obi added that the facilities had long repayment periods and that substantial portions were not drawn down before he left office.
The former governor also disputed the suggestion that his administration handed over a financially distressed state, saying Anambra had more than $150 million invested in bonds when he exited office. According to him, the investments were generating about $10 million annually at the time, while the state’s foreign debt stood at roughly $30 million when he left, compared with about $18 million when he assumed office.
Obi further maintained that his administration left no outstanding salaries, pensions or gratuities owed by the state to workers scheduled for payment, and said verified contractors and suppliers who had completed their jobs were also not left unpaid. He dismissed separate claims concerning the state water corporation, arguing that its workers were not directly covered by the state government’s payroll.
To support his position, Obi presented what he described as his 2014 handover document, containing details of the state’s cash, investments and foreign-currency holdings. He urged journalists and relevant institutions, including the World Bank and banks named in the records, to independently verify the figures, saying the documents would establish what his administration actually received and handed over.
