Former Anambra State Governor Peter Obi has rejected claims that his administration left the state with unpaid debts, saying he did not personally secure loans or issue bonds during his eight years in office.
Obi, who is now the presidential candidate of the Nigeria Democratic Congress (NDC), made the statement during an interview with Arise Television on Thursday.
He was asked about claims by the current Anambra State Government that successive administrations have continued to service loans and other liabilities connected to previous governments.
‘I did not borrow money’
Obi said his administration did not approach commercial banks or other financial institutions to borrow money on behalf of Anambra State.
He maintained that when he handed over power in March 2014, the state was not owing salaries, pensions or gratuities due from the state government.
He also said no contractor or supplier whose completed work had been properly certified and verified was left unpaid.
Obi argued that the existence of a financing facility did not automatically mean the entire approved amount had become a debt.
He said an amount that had not been drawn down should not be treated in the same way as money already received and spent.
Why World Bank funding was involved
According to Obi, the Federal Government identified Anambra, Ekiti and Bauchi as states that had performed well in education and subsequently supported them with concessionary multilateral financing.
He said the arrangement involved the World Bank and was designed to support development projects.
Obi stressed that the arrangement was different from a governor independently approaching a commercial bank to obtain a loan.
He also cited SEPIP, saying the drawdown of the facility occurred after he had left office.
Government’s position
The Anambra State Government has presented a different account.
In September, the state released loan records and said eight external borrowings contracted during Obi’s administration remained outstanding. The government said the balance was about N127.4 billion as of June 30, 2026, based on figures attributed to the Debt Management Office.
The state has therefore disputed Obi’s repeated claim that he left Anambra without outstanding financial obligations.
Obi, however, has continued to reject the characterization of the facilities as debts he personally incurred for the state.
In his latest interview, he argued that the records should distinguish between concessionary facilities supported by the Federal Government, amounts actually drawn down and liabilities outstanding when he handed over power.
He also said the financial records from his handover should be examined to establish the state’s position at the end of his tenure. Arise News reported that Obi said he left more than $150 million in funds and investments, a claim that remains part of the broader dispute over Anambra’s finances.
