Peter Obi Disputes Anambra's $123.77M Debt Claim

A controversy has emerged regarding the debt left by Peter Obi when he exited as governor of Anambra State on March 17, 2014. The Anambra State Government claims that eight external borrowing facilities connected to projects during Obi's administration totaled $123.77 million, with $92.35 million outstanding as of June 30, 2026.

Obi strongly refutes this, asserting that the $123.77 million figure reflects the combined face value of the facilities, not the actual amount borrowed at the time of his departure. He stated that the government incorrectly aggregated distinct categories of debt.

The 2014 Anambra State Handover Report, which Obi signed, did not mention the $123.77 million as outstanding external debt. Instead, it recorded local investments of N27 billion and foreign-currency investments of $56 million, leading to a net balance of N86.666 billion after liabilities were deducted.

The closest DMO record before Obi's departure indicated Anambra's external debt at approximately $30.32 million. The lack of a March 2014 DMO record means that while Obi's claim of around $30 million cannot be precisely confirmed, it suggests that Anambra was not debt-free upon his exit.