‘If Your Father Left You ₦100m, Would You Say He Left You With Debt?’ — Peter Obi Defends Anambra Record

Former Anambra State Governor and presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has defended his financial record as governor, using an inheritance analogy to challenge claims that his administration left the state heavily indebted.

Obi, speaking during an interview on Arise News, said it would be unfair to describe an inheritance of ₦100 million as a debt simply because the deceased left an obligation of ₦10 million.

“Assuming your father left you ₦100m and someone says he owed ₦10m, will you go to the market and say he left you with debt? That would be unfair,” Obi said.

He argued that even if the disputed debt figure were accepted for the sake of argument, the financial resources he said were left behind would have been sufficient to settle the obligation while keeping Anambra financially stable.

“Even if there was a debt, there was enough left to pay it, and the state would still be financially stable,” he said.

The former governor has been responding to claims by the Anambra State Government over loans and other liabilities allegedly incurred during his administration.

The state government has said eight external borrowing arrangements linked to the period of Obi’s administration had outstanding balances. It put the total value of the facilities at about $123.77 million and said the outstanding balance as of June 30, 2026, was about ₦127.4 billion at the applicable exchange rate.

Obi, however, disputes the interpretation of those figures. He has maintained that he did not personally approach financial institutions to borrow money or issue bonds on behalf of the state during his eight years in office.

He also drew a distinction between approved financing facilities and funds actually accessed, arguing that an entire facility should not automatically be classified as money owed if only part of it was drawn.

“If I went to a bank and borrowed ₦10 billion, but I only drew down ₦500 million, you cannot say I am owing ₦10 billion,” Obi said in a separate explanation of his position.

According to Obi, some of the financing arrangements being attributed to his administration involved concessionary multilateral support backed by the Federal Government, including World Bank-supported programmes.

He specifically cited the State Education Programme Investment Project (SEPIP), arguing that its drawdown occurred after he had left office in March 2014.

Obi has also disputed the $123.7 million figure as the debt he allegedly left behind. He said Anambra's recorded foreign debt was about $18 million when he assumed office and approximately $30 million when he left in March 2014.

He further said the state's foreign debt stood at about $45 million in December 2014, nine months after he left office, arguing that describing $123.7 million as the amount he left behind amounted to incorrect accounting.

The Anambra Government maintains a different position, saying the loans were contracted during the previous administration and remain liabilities being serviced by successive governments.

The disagreement therefore centres partly on how the figures should be classified  whether the focus should be on the total value of approved financing facilities, actual drawdowns, outstanding balances, or other liabilities recorded at the time of handover.

Obi has challenged the state government to publish relevant records, saying the figures can be independently verified through banks and international development institutions.

The dispute comes amid a wider political and public debate over the financial records inherited by successive administrations in Anambra State.