By Kingston Magare 25.9.2026
Nigeria Democratic Congress (NDC), presidential candidate Peter Obi, said it is not true he left $123.7 million debt, when finished his tenure as Anambra State governor.
Incumbent governor Charles Chukwuma Soludo had claimed with documents that Mr Obi, who served as the governor of Anambra State from 2006 to 2014, left the debt and also owed workers salaries.
Obi who was speaking on Arise TV Thursday night said he has documents to also back his claim that he left no liability.
“Let me state categorically again. I, Mr Peter Obi, did not approach any financial institution to borrow money or issue bonds on behalf of the Anambra State in the eight years I was in government,” he said.
Obi stated that what Mr. Soludo listed as eight external loans he took was a case of “a wrong public accounting.”
He explained that the facilities Mr Soludo’s government termed “external loans” were not funds he personally obtained from financial institutions, but funding arrangements supported by the Federal government and the World Bank.
“These are concessionary facilities that are payable over a period of 25 to 35 years, with either no or small interest.
“So it was a decision made by the Federal government and the World Bank,” Obi clarified.
Obi submitted he did not use the entire FG guaranteed loan before leaving office.
“Even if I had gone to a bank and borrowed money, but I did not spend the money, you cannot call it debt I left.
“If I go to a bank and say ‘give me a loan of N10 billion’ and I only drew down N500 million. You cannot say I’m owing N10 billion because you know the amount,” he said.
“If you look at the State Education Programme Investment Project, you will see that the drawdown was well after I left office.”
According to Mr. Obi against the background of the FG guaranteed loan he left over $150 million in the treasury of Anambra State government.
“At the time I left office the component of my savings invested in various bonds was over $150 million, which gives Anambra State guaranteed income of about $10 million yearly.
“If they just kept that money that I left and was using the income to pay the loan, they would have finished paying it now with the capital, $150 million still remaining, and still giving Anambra State $10 million annually.
“And now we are earning $20 million minimum for the state every year, and counting.”
He also dismissed claims by Soludo he was owing salaries.
“On the day I left office, the government of Anambra State, which I served, was not owing any salary, gratuity or pension to those scheduled to be paid by the state government.
“We are not oweing any contractor or supplier who has executed his job, certified and verified. Not one,” he said.
The former governor insisted that anybody who had not completed his project at the time he left office could not claim he was owed.
“When you don’t complete your job, we’re not owing you. It is when you complete your job, we verify, certify that we’re owing you.”
Brandished his hand over notes Obi added: “I backed all the foreign currency components with the statements because that’s the area of dispute.
“So when I said I left over $150 million, you will see there. It’s documented. “The banks where they are and how the bonds were issued, they’re there. Please, publish the document,”