Peter Obi rejects $123.77 million debt claim, challenges Anambra government

Former Anambra State Governor Peter Obi has dismissed claims that he left the region with $123.77 million in debt when he stepped down in March 2014. Obi stated that he did not take out any loans or issue bonds on behalf of Anambra during his tenure. He clarified that the $123.77 million figure cited by the Anambra State Government includes various types of multilateral development financing.

In a statement posted on his X account, Obi challenged the figures attributed to the Debt Management Office (DMO) and argued that they did not substantiate the claim of a $123.77 million debt left by his administration. The Anambra State Government maintains that eight external loan facilities associated with projects undertaken during Obi's time still have outstanding balances totaling $123.77 million, with $92.35 million still owed as of June 30, 2026.

These facilities covered initiatives in sectors such as healthcare, education, agriculture, community development, and erosion control. Obi cited DMO records showing Anambra's external debt at around $18 million when he became governor in March 2006, and an estimated $30 million when he left office in March 2014. He also provided a DMO figure of about $45.15 million as of December 31, 2014.

Obi emphasized that he did not seek any financial assistance from institutions during his governorship, and that the state had no unpaid salaries, gratuities, or pensions upon his departure. He also stated that the state did not owe contractors or suppliers for completed projects that had been verified and certified. Obi argued that the values associated with the cited facilities should be considered as separate entities: the approved value of the multiyear programs, the actual funds drawn by Anambra under his leadership, and the outstanding balance at the time of his handover.

Nairametrics reported that Anambra's debt stood at N11.55 billion in 2025, representing 0.26% of the total subnational debt, which is a 59.73% decrease from N28.68 billion in 2024, marking the largest year-over-year reduction among all ten states.