Former Anambra State Governor, Peter Obi, has broken his silence on the controversy surrounding the state’s alleged $123.77 million debt, insisting that the figure does not represent loans he left behind when he handed over power in 2014.
Obi, in a statement shared on his official X account on Friday, said he decided to respond after days of public debate, explaining that he had earlier been mourning the death of his elder brother, Chief Okey Ezeibe.
The former governor called on Nigerians and political actors to focus more on the economic challenges facing citizens rather than engaging in what he described as unnecessary political distractions.
> “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.”
Obi also dismissed speculation of a rift between him and Anambra State Governor Chukwuma Soludo, saying he has no personal disagreement with the governor or any other state governor.
> “I wish to assure the public that I have no disagreement with my dear elder brother, Governor Soludo, or with any governor in Nigeria.”
He said he was not interested in contesting for the office of governor again and urged governors to allow political competition ahead of the 2027 elections.
According to Obi, every presidential candidate and other political aspirants should be given the opportunity to campaign freely, while voters should be allowed to make their choices.
Responding directly to the debt issue, Obi said he never approached any financial institution to borrow money or issue bonds for Anambra State during his tenure.
> “As Governor of Anambra State, I did not approach any financial institution to borrow funds or issue a bond on behalf of the state.”
He said the former Director-General of the Debt Management Office (DMO), Abraham Nwankwo, had publicly confirmed that he was the only governor during his 10-year tenure who did not seek a loan facility.
Obi added that he left office without unpaid salaries, pension arrears, gratuities or outstanding payments to contractors whose projects had been completed, verified and certified by the government.
The former governor explained that the funds being referred to were development financing programmes from institutions such as the World Bank and IFAD, which were secured through the Federal Government for states participating in specific development projects.
He argued that the Anambra State Government wrongly combined approved programme amounts, funds actually accessed during his administration and outstanding balances to arrive at the $123.77 million figure.
> “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.”
Obi said the facilities were not conventional commercial loans personally obtained by his administration, although they carried repayment obligations.
He further questioned the state government’s figures, referring to records from the Debt Management Office.
The former governor said available DMO records showed that Anambra’s external debt stood at about $18 million in March 2006, when he assumed office, about $30 million in March 2014, when he left office, and about $45.15 million by December 2014.
He therefore asked the state government to explain how a debt figure of $123.77 million could be attributed to his administration when he left office months earlier.
> “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.”
The former governor maintained that public discussions on government finances should be based on accurate records and proper interpretation of financial data rather than political narratives.
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