Obi: I Didn’t Leave Anambra With $123.7m Debt, Charge is Wrong Public Accounting
•Backs party leadership, rejects OK Movement’s parallel campaign structure •Says Opposition must unite to defend democracy Sunday Aborisade in Abuja Presidential candidate of the Nigeria Democratic Congress (NDC), Mr Peter
Presidential candidate Peter Obi rejected allegations of leaving Anambra State with $123.7 million in debt during his tenure, describing the claim as "very, very wrong public accounting." The figure comes from loans that were primarily concessionary development facilities obtained by the federal government and subsequently lent to qualified states for specific projects.
Obi clarified that such facilities were multi-year repayable schemes, and the amounts cited as Anambra's liabilities did not necessarily represent personal borrowing or funds drawn down by his administration. When Obi assumed office, Anambra's recorded foreign debt was about $18 million, and it increased to roughly $30 million by the time he left in March 2014.
As of December 2014, nine months after his departure, Anambra's total foreign debt stood at $45 million. Obi argued that the state could not be considered owing the full amount of a facility if it had not accessed the funds. He also highlighted that the state left with over $150 million in investments, capable of generating substantial annual income even if the higher debt figure were accepted for argument's sake.
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