Peter Obi Faces Fresh Questions as Soludo Government Releases New Loan Details
Former Anambra State Governor and 2027 Nigeria Democratic Congress (NDC) presidential candidate, Peter Obi, is facing renewed questions over his administration’s financial record after the government of Governor Chukwuma Soludo released fresh details about loans linked to his tenure.
The latest development is part of an escalating disagreement between Obi and the Anambra State Government over whether his administration left outstanding debts when he handed over power in 2014.
The Anambra Government said records from the Debt Management Office indicate that loans attributed to Obi’s administration had an outstanding balance of about ₦127.37 billion as of June 30, 2026. The state said the loans originated from eight external facilities secured between 2007 and 2013 for projects covering areas such as healthcare, education, malaria control, erosion management and agricultural development.
The disclosure follows comments by Anambra Commissioner for Finance, Izuchukwu Okafor, who said the state was still making deductions from its monthly Federation Account allocation to service loans associated with previous administrations, including that of Obi.
On Friday, September 18, Anambra Commissioner for Information and Value Reorientation, Law Mefor, said the obligations remained loans despite some facilities involving Federal Government guarantees. He maintained that the state continues to service the debts.
Obi, however, has strongly rejected the suggestion that he left Anambra with unpaid obligations. He said that when he left office, salaries, pensions, gratuities and payments owed to contractors for completed and certified projects had been settled.
The former governor also challenged the Anambra Government to provide evidence contradicting his account, saying he would stop his 2027 presidential campaign if it could establish that he left the state in debt. He separately maintained that more than ₦75 billion in savings and investments remained when he handed over power.
The dispute has now expanded beyond the question of whether Anambra borrowed money during Obi’s tenure to include questions about the nature of the facilities, who authorised them, how they were classified and who is legally responsible for repayment.
The state government has also challenged Obi’s account of an ecological fund reportedly left in a First Bank account, while Obi has maintained that the money was preserved for a specific erosion-control project.
With both sides presenting different accounts, the controversy is increasingly centred on the underlying financial records and documentation. Independent examination of the relevant loan agreements, disbursement records, repayment schedules and bank statements would provide greater clarity on the competing claims.
The dispute comes as Obi prepares for the 2027 presidential election, making his record as Anambra governor a subject of renewed national attention.