Obi denies borrowing money as Anambra governor, rejects Soludo’s debt claims

The presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has denied borrowing money or issuing bonds on behalf of Anambra State during his eight years as governor.

Obi made the clarification on Thursday while appearing on Arise Television’s Prime Time, amid an escalating dispute with the administration of Governor Chukwuma Soludo over the financial legacy of his tenure.

“Let me categorically say again, I, Mr Peter Obi, didn’t approach any financial institution to borrow money or issue bonds on behalf of Anambra State in the eight years I was in government,” he said.

Obi also maintained that he left office in March 2014 without outstanding salaries, gratuities or pensions owed by the state government and without debts to contractors whose projects had been executed, certified and verified.

His comments followed claims by the Soludo administration that loans contracted during Obi’s tenure remain liabilities of Anambra State.

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The state government recently released records which it said showed eight external loans associated with the Obi administration between 2007 and 2013, with a combined value of about $123.7 million. According to the government, the outstanding balance stood at $92.35 million, equivalent to about N127.37 billion as of June 30, 2026.

The state said the facilities were linked to projects including malaria control, erosion management, healthcare, education and agricultural development.

Obi, however, argued that the facilities being attributed to his administration should not automatically be regarded as money borrowed directly by him or as debts he left behind.

He cited concessionary funding supported by the Federal Government, including the State Education Programme Investment Project (SEPIP), involving Anambra, Ekiti and Bauchi states.

According to him, some of the funds were drawn down after he had already left office, reinforcing his position that they should not be characterised as borrowings undertaken by his administration.

The former governor has repeatedly maintained that his administration left Anambra in a strong financial position. He previously claimed that more than N75 billion in savings was left behind at the point of handover, a claim also cited by his former Secretary to the State Government, Oseloka Obaze.

The Anambra government, however, has disputed Obi’s account and maintained that liabilities from previous administrations continue to be serviced by the state.

The disagreement has consequently developed into a broader dispute over whether financial facilities secured during Obi’s tenure should be classified as debts incurred by his administration and whether outstanding liabilities at the time of handover amounted to unpaid obligations.

Obi has challenged the state government to substantiate its allegations, insisting that official records can establish the financial position of Anambra when he left office.