The All Progressives Congress Presidential Campaign Council has accused former Anambra State Governor and 2027 presidential candidate Peter Obi of misrepresenting the state’s financial position during his tenure.
The council’s spokesperson, Dele Alake, made the allegation in a statement on Monday, September 21, while reacting to disclosures by the Anambra State Government concerning loans associated with Obi’s administration.
According to the state government, eight external financing facilities contracted during Obi’s tenure had an original combined value of about $123.77 million, with an outstanding balance of about $92.35 million as of June 30, 2026. The loans were linked to projects involving malaria control, healthcare, education, erosion management, community development and agriculture.
The APC campaign council also alleged that Obi’s administration spent about $4.05 billion during his eight years in office and left salary-related obligations, including liabilities involving workers of the Anambra State Water Corporation.
Alake referenced a 2006 memo reportedly written by Obi’s then Chief of Staff, Chuks Ileogbunam, requesting the payment of about N15 million in monthly salaries owed to Water Corporation workers.
The council argued that the disclosures contradicted Obi’s position that he left Anambra without outstanding debt liabilities.
It also challenged Obi over his reported pledge to withdraw from the 2027 presidential race if it was established that his administration left a debt burden in the state.
The APC campaign council consequently called on Obi to withdraw from the presidential contest and account for the financial obligations it said were linked to his tenure.
However, the figures cited in the dispute require distinction. The $123.77 million represents the original value of the eight external loan facilities, while the $92.35 million figure represents their reported outstanding balance as of June 30, 2026. Neither figure, on its own, establishes the precise amount outstanding on March 17, 2014, when Obi handed over power to his successor.
Obi has rejected the Anambra State Government’s claims, maintaining that his administration cleared more than N35 billion in inherited gratuities and arrears and left office without outstanding salary, pension or gratuity liabilities. He also said the state owed nothing to contractors for completed and certified projects.
The former governor has further disputed the state government’s account of a separate N2.13 billion fund allegedly set aside for the Oko/Umuchiana erosion crisis.
Anambra State Commissioner for Information and Value Reorientation, Law Mefor, disputed Obi’s description of the account, saying a certified statement obtained by the state showed that it was an Internally Generated Revenue Consolidated Revenue Account rather than an ecological fund account.
The controversy has therefore centred on the distinction between loans approved or contracted, funds actually disbursed and the amount of debt outstanding when Obi left office in 2014.
The dispute comes as political activities ahead of the 2027 general elections intensify, with the financial record of Obi’s eight-year administration in Anambra becoming a subject of renewed public and political scrutiny.
