Responding to the debt question that is being discussed publicly, Peter Obi, former Governor of Anambra State, has come out to clarify that, he owed no one when he left office.
Taking to X, he said, he chose to remain silent on the debt conversation in the past few days because “I have been grieving the loss of my very dear elder brother and friend, Chief Okey Ezeibe”.
Obi urged everyone to remain focused on the “existential challenges” facing the country alongside the “hardship” Nigerians are being confronted with, and, never allow themselves be distracted by “needless” political issues.
The 2027 Presidential candidate of the Nigeria Democratic Congress (NDC) made known, he has no “disagreement” with Chukwuma Soludo, Executive Governor of Anambra State, whom he described as an “elder brother”.
Obi said: “I respectfully urge everyone to concentrate on the existential challenges confronting Nigeria and the hardships endured by its citizens, rather than on the needless distractions that have become widespread in our politics.
“I wish to assure the public that I have no disagreement with my dear elder brother, Governor Soludo, or with any governor in Nigeria. I am not seeking the office of governor in any state, and I will not seek that position again, even if the Constitution is amended.”
The former African Democratic Congress (ADC) member clarified “unequivocally”, he did not “borrow funds from any financial institution” when he was serving as Governor of Anambra State, neither did he “issue a bond on behalf of the state”.
When he finished serving, the Southeastern State “owed no unpaid salaries, gratuities, or pensions”, even contractors and suppliers were paid after their works have being “verified and certified”.
Obi said: “Regarding the multilateral funding inaccurately described as “debt owed by Peter Obi” in Anambra State, I wish to state unequivocally:
“As Governor of Anambra State, I did not approach any financial institution to borrow funds or issue a bond on behalf of the state.
“Indeed, at his farewell ceremony, the then Director-General of the DMO, Abraham Nwankwo, appointed me chairman and declared that, during his 10 years in office, I was the only state governor who had not approached him for a loan facility.
“When I left office, the Anambra State Government owed no unpaid salaries, gratuities, or pensions. Neither did it owe any contractor or supplier who had completed work that the government had verified and certified.”
On the World Bank funds, Obi clarified: “Regarding development financing from the World Bank, these are concessionary development-support funds secured by the Federal Government for states selected by it to address specific needs. Repayment is spread over 25 to 30 years.
“The Anambra State Government must therefore differentiate among three separate figures: the total amount approved for the multiyear development program; the amount Anambra State actually drew during my tenure; and the funding balance outstanding when I handed over on 17 March 2014.
“The government has combined these distinct categories, added them together, and described the resulting US$123.77 million as “loans left by Peter Obi.” That is an incorrect application of public-sector accounting.
“The eight facilities identified were primarily World Bank and IFAD development programs negotiated by the Federal Government, with participating states receiving access to the funds through subsidiary arrangements. They were not conventional commercial loans that I personally secured during my tenure.
“This does not suggest that Anambra had no repayment responsibilities; rather, each facility must be examined in light of its approval, effectiveness, drawdown, and repayment record.
“The clearest contradiction appears in the government’s own figures. It states that the original facilities amounted to approximately US$123.77 million and that US$92.35 million remained outstanding in June 2026. However, the DMO’s published records showed Anambra’s total external debt at approximately US$18 million when I began my tenure in March 2006, about US$30 million in March 2014, when I left office, and approximately US$45.15 million as of 31 December 2014, nine months after my departure.
“The Anambra State Government must therefore clarify how a state whose recorded external debt was about US$30 million in March 2014 and US$45.15 million in December 2014 could supposedly have inherited US$123.77 million from Peter Obi, who left office in March of that same year.”
Obi made known, he left over “$150 million” when he left Office. He said, the money is supposed to bring into the State’s account a whopping “$10 million” income on a yearly basis.
He said: “On the day I left office, I left more than US$150 million as the dollar component of my investment in Anambra State as governor. I hereby provide documents that can be verified with the various banks. Had it remained untouched, this investment was expected to provide Anambra State with approximately US$10 million in annual income.
“Even if their assertion were accurate—which it is not—that Anambra owed US$123 million, the government could have used the US$10 million generated annually from my savings to reduce the debt. It has now been 13 years since I left office, which would amount to US$130 million. The debt should have been fully settled by now.”
After putting figures together, the former Labour Party (LP) member said, if the funds he left in the bank had been “retained”, Anambra State would have accumulated a total of “approximately $335 million today”.
He reaffirmed, he left Anambra State in a “strong financial position”, and, the “strongest” State in Nigeria.
Obi said: “Had they retained the funds I left in the bank, including the compound interest on the principal and the additional income, the total would be approximately US$335 million today. If they had chosen to repay the US$92.35 million funding, the entire amount would have been covered, leaving approximately US$242 million to be reinvested. That sum would have generated about US$20 million annually for Anambra State.
“Let me reiterate that, when I left office, I left Anambra State in a strong financial position—the strongest of any state in Nigeria—and I stand by that position.”
He said, currently, his “focus” is on the “issues” plaguing the Nigerian masses, and that is why he is running for the Office of the President of Nigeria.
Obi said: “Through this clarification, I wish to state categorically that I will neither engage nor trade words with anyone regarding my tenure in Anambra State. My focus will now be on issues affecting the suffering Nigerian masses, which is the reason for my presidential ambition.”
