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| Peter Obi NDC Presidential Candidate |
The Anambra State government has published what it describes as official public debt records from the tenure of former Governor Peter Obi, challenging his recent claims of “phantom debts.” In a statement signed by Commissioner for Information and Value Reformation Dr Law Mefor, the government insisted Obi left both external loans and unpaid pensions and gratuities when he exited office on 17 March 2014.
According to the statement, Obi’s administration contracted about US$123.77 million in external debt across eight different borrowings. As of 30 June 2026, the outstanding balance stood at N127.4 billion at the official exchange rate. The government said it has been servicing these loans with hundreds of millions of naira monthly for projects ranging from malaria control and erosion management to education and healthcare.
It further calculated that Obi spent the equivalent of roughly US$4.05 billion (about N5.4 trillion at current rates) over his eight years in office. Officials stressed that debt itself is not inherently negative if used for productive purposes, but argued the former governor’s recent public statements were misleading.
Beyond loans, the government alleged Obi left verified arrears of salaries, gratuities and pensions for retired teachers and Water Corporation staff. It also claimed his administration bequeathed non-functional urban and rural water schemes, under-resourced public schools and hospitals, rising insecurity and widespread poverty, with 44 percent of communities lacking any public primary school.
The release comes amid the 2027 election cycle, after Obi publicly disputed debt figures raised by the state Commissioner for Finance. The Anambra government said transparency required a factual response once a former governor made “verifiably false claims” about the financial legacy he left behind.