Anambra Debt Row: Presidency dares Obi To quit 2027 race

The Presidency has thrust former Anambra State Governor Peter Obi's 2027 presidential aspirations into the spotlight amid the controversy surrounding the financial standing he left behind following his resignation in 2014. The leadership urged Obi to uphold his pledge to cease his electoral campaign should evidence emerge disproving his assertions of leaving Anambra debt-free.

Bayo Onanuga, an influential figure in President Bola Tinubu's administration, disclosed on Wednesday that Obi had set the terms for this challenge himself. If anyone could substantiate that his administration had left behind unpaid liabilities, Obi had declared his willingness to abandon his presidential bid.

The Anambra State Government presented financial records that directly contradicted Obi's claims. Onanuga emphasized that these records revealed the former governor was responsible for outstanding debts, including those owed to Water Corporation workers, educators, and pensioners, as well as funds borrowed for seemingly unnecessary expenditures.

He posed a question: "Now, the Anambra government has confronted him with facts and figures showing he owed Water Corporation workers, teachers, and pension and gratuities, and had also borrowed for frivolous things. The ball is back in his court. Will he follow through on his threat by quitting the race?"

Obi's current response to these allegations came in the form of a staunch defense of his administration's financial management. He denied reports of unpaid salaries, pension and gratuity obligations, and contractor debts accumulated during his eight-year tenure. Obi asserted that his government had disbursed more than N35 billion in historical gratuities and arrears.

He further challenged anyone who could provide contrary evidence to step forward. He declared, "If anybody can establish anything to the contrary, I will stop campaigning."

This dispute traces its origins to the transition period following Obi's resignation in March 2014. Competing accounts regarding the financial and contractual debts inherited by the new administration emerged. The incumbent administration later claimed to have inherited approximately N185 billion in project-related liabilities from Obi's tenure.

Obi's team contested this claim, asserting that he had left Anambra with a surplus of cash and investments, and thus, had not transferred a financially distressed state. Debt Management Office records from December 31, 2013, indicated that Anambra's external debt stood at about $30.32 million, while its domestic debt amounted to roughly N3.03 billion.

The complexity surrounding the issue intensified when Charles Soludo took over in 2022, claiming his administration inherited more than N100 billion in debt, coupled with a significantly smaller cash reserve.