APC campaign council challenges Obi over Anambra debt claims - The Guardian Nigeria News

The All Progressives Congress (APC) Presidential Campaign Council has accused former Anambra State Governor and presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, of misleading Nigerians over the financial record of his administration in the state.

The council’s position was contained in a statement issued on Sunday by its spokesperson, Dele Alake, following recent disclosures by the Anambra State Government on loans allegedly contracted during Obi’s eight-year tenure as governor. Alake said the disclosures had contradicted claims that Obi left Anambra State without a debt burden when he left office in March 2014.

According to the APC campaign council, the Anambra State Government said Obi’s administration spent about $4.05 billion during its eight years in office and contracted $123.77 million in external loans.

The state government had said eight external borrowing facilities associated with projects undertaken during Obi’s tenure remained outstanding after he handed over power on March 17, 2014.

It said the loans covered projects in areas including malaria control, healthcare, education, erosion management, agriculture and community development.

The state government further said the facilities, which had an original value of about $123.77 million, had an outstanding balance of $92.35 million as of June 30, 2026. Based on the exchange rate used by the state, the outstanding balance was valued at approximately N127.37 billion.

The disclosures followed a challenge by Obi over claims that his administration left outstanding debts and other financial liabilities.

The Anambra State Government said the records were based on data from the Debt Management Office (DMO), adding that subsequent administrations had continued to service the obligations.

However, Obi’s camp has disputed the state government’s characterisation of the facilities, arguing that several of the programmes were federally negotiated development-financing arrangements in which Anambra participated.

His supporters have also argued that the original financing agreements did not necessarily amount to Peter Obi personally contracting the loans, noting that some were negotiated between the Federal Government and international development institutions before being implemented through participating states.

The APC campaign council, however, said the issue was not whether borrowing was inherently wrong but whether Obi’s claims about the financial position he left behind could be reconciled with available records.

“Borrowing is not injudicious if used for development,” Alake said, arguing that the issue was the contrast between Obi’s public image as a fiscally conservative leader and the liabilities the Anambra Government says remained after his tenure.

The council also raised allegations concerning unpaid salaries during Obi’s administration.

It cited a memo dated April 25, 2006, reportedly written by Obi’s then Chief of Staff, Chuks Ileogbunam, urging the governor to pay workers of the Anambra State Water Corporation.

According to the APC statement, the memo appealed to Obi to release N15 million required for the corporation’s monthly wage bill to avert protests over unpaid salaries.

The council said the memo was significant because Obi had reportedly pledged during his campaign for governor that he would resign if workers in the state were not paid their salaries as and when due. Alake alleged that Obi did not fulfil that pledge and claimed that arrears remained when he left office.

The APC spokesperson also criticised Obi over his recent political activities, including a solidarity visit to an individual facing trial by the Economic and Financial Crimes Commission (EFCC), although the statement did not provide further details on the case.

Alake consequently called on Obi to withdraw from the 2027 presidential race, citing what he described as the former governor’s pledge to end his campaign if evidence emerged that his administration had left liabilities in Anambra State.

The debt controversy has emerged as part of a broader political dispute over Obi’s record as Anambra governor and his claims about the state’s financial position at the end of his tenure.

While the Anambra State Government maintains that external debt obligations linked to projects undertaken during Obi’s administration remained outstanding, Obi and his supporters have challenged the government’s interpretation of those liabilities.

Independent reports on the dispute have also noted an important distinction between the existence of external debt associated with Anambra and the description of the facilities as loans personally contracted by Obi. A fact-check examining available DMO, World Bank and International Fund for Agricultural Development (IFAD) records reported that several of the financing arrangements involved the Federal Government as the original borrower, with participating states receiving funds through federal on-lending or subsidiary arrangements.

The dispute therefore centres not only on whether Anambra had outstanding external debt, but also on the structure of the loans, the amount actually disbursed to the state, the liabilities outstanding at the time of the 2014 handover and the extent to which subsequent administrations inherited and serviced the obligations.