The All Progressives Congress (APC) Presidential Campaign Council has accused Peter Obi, former Anambra State Governor and presidential candidate of the Nigeria Democratic Congress (NDC), of misleading Nigerians over the financial record of his administration in the state. The council's spokesperson, Dele Alake, issued a statement on Sunday, September 21, 2026, citing recent disclosures by the Anambra State Government on loans allegedly contracted during Obi's eight-year tenure as governor.
According to the Anambra State Government, 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 said eight external borrowing facilities associated with projects undertaken during Obi's tenure remained outstanding after he handed over power on March 17, 2014. These projects covered areas including malaria control, healthcare, education, erosion management, agriculture, and community development.
The Anambra State Government disclosed that 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.
Obi's camp has disputed the state government's characterization of the facilities, arguing that several of the programs were federally negotiated development-financing arrangements in which Anambra participated. His supporters also argued that the original financing agreements did not necessarily amount to Peter Obi personally contracting the loans. 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.
The APC campaign 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. 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.
Dele Alake alleged that Obi did not fulfill that pledge and claimed that arrears remained when he left office. Alake also criticized Obi over his recent political activities, including a solidarity visit to an individual facing trial by the Economic and Financial Crimes Commission (EFCC). The APC spokesperson 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.
Key points
- The APC campaign council accused Peter Obi of misleading Nigerians over Anambra's financial record.
- The Anambra State Government disclosed outstanding loans of $92.35 million as of June 30, 2026.
- Obi's camp disputed the state government's characterization of the facilities as personally contracted loans.
