Anambra Govt Says Obi Left N127.37bn In Outstanding External Loans

The Anambra State Government has released details of external loans it says remained outstanding from previous administrations, putting the balance linked to eight facilities at $92.35 million, or about N127.37 billion, as of June 30, 2026.

The disclosure came amid a renewed dispute between the state government and former Governor Peter Obi over the financial obligations and funds allegedly left behind when he handed over power in March 2014.

In a statement issued by the Commissioner for Information and Value Reorientation, Law Mefor, the state government said the eight loans were tied to projects covering malaria control, erosion management, healthcare, education, community development and agricultural value chains. The claims were also reported by other Nigerian media outlets on Wednesday.

According to the government, the original value of the facilities was about $123.77 million. Among them was $48.33 million in additional financing for the Malaria Control Booster Project, with $37.34 million still outstanding as of June 30, 2026.

The government also listed a $37.89 million Nigeria Erosion and Watershed Management Project loan, with an outstanding balance of $34.86 million.

Mefor said the loans were being serviced by the present administration, arguing that borrowing was not inherently wrong when funds were deployed to viable projects and human capital development.

The commissioner, however, disputed Obi’s claim that his administration left office without outstanding salaries, pensions and gratuities.

He said the current administration had inherited and cleared about N22 billion in gratuity arrears owed to retired state and local government workers and teachers. He also alleged that salary arrears involving workers of the former Anambra State Water Corporation remained unresolved until the present administration negotiated a settlement.

The government further claimed that some primary school teachers had outstanding salary, pension and gratuity arrears dating back to previous administrations, including that of former Governor Chinwoke Mbadinuju.

Obi has rejected the allegations, insisting that his administration cleared more than N35 billion in historical gratuities and arrears and left office without outstanding salaries, pensions, gratuities or liabilities to contractors for duly executed and certified projects.

The former governor has also challenged the state government to produce evidence contradicting his account, saying he would stop campaigning if anyone could establish that he left such obligations unpaid.

Another point of disagreement is an alleged N2.13 billion ecological fund which Obi said was available in a First Bank account at the end of his tenure for the Oko/Umuchiana erosion project.

The Anambra Government said its certified records showed that the account cited by Obi was an internally generated revenue consolidated account and contained no such amount from the time it was opened.

The dispute comes after the state’s Commissioner for Finance, Izuchukwu Okafor, said the government was still servicing loans inherited from previous administrations, including those associated with Obi and his successor, Willie Obiano.

The competing claims have placed the state’s debt records, inherited liabilities and financial position at the centre of a fresh political dispute ahead of the 2027 elections.