Anambra Govt Releases Peter Obi-Era Loan Records, Says $123.77m Was Borrowed

The long-running argument between the Anambra State Government and former governor Peter Obi over the state’s finances has taken another turn and this time, the state government has released figures it says came from the Debt Management Office (DMO).

The controversy began after Anambra Commissioner for Finance, Izuchukwu Okafor, said in a recent podcast that the administration of Governor Charles Soludo was still servicing loans inherited from previous governments, including the administrations of Peter Obi and Willie Obiano.

Peter Obi pushed back, insisting that he left Anambra without outstanding salaries, pensions, gratuities or debts owed to contractors whose work had been completed and certified.

He also addressed claims surrounding an alleged ₦2.13 billion ecological fund, saying the money had been left untouched for the incoming administration to tackle the Oko/Umuchiana erosion crisis.

On Wednesday, Anambra Commissioner for Information and Value Reorientation, Law Mefor, released a detailed statement titled “Gov Peter Obi and Record of Public Debt in Anambra: Facts Beyond Propaganda and Lies.”

According to the state government, eight external loans linked to Obi’s administration had a combined original value of $123.77 million.

The government says $92.35 million of those loans remained outstanding as of June 30, 2026 — equivalent to about ₦127.37 billion at the official exchange rate used by the state.

The loans, according to the government, were connected to projects including malaria control, Fadama development, healthcare, education, community development, erosion control and agricultural value-chain development.

The state says the figures were compiled from the latest DMO report on Anambra’s debt position. 

The figure of $123.77 million is the original value of the loans, not the amount currently outstanding. The state says $92.35 million remains unpaid as of June 30, 2026.