Soludo-Obi Debt Debate: Why Anambra’s 2014 Records Matter More Than a 2026 Naira Conversion

The dispute over loans linked to Peter Obi’s time as Anambra governor should be settled with records, not headlines. The Soludo administration says eight external facilities associated with, or inherited by, the Obi administration had an outstanding balance of about $92.35 million as of June 30, 2026. Using its exchange rate, that equals about ₦127.37 billion. However, a 2026 naira value does not establish the debt position on March 17, 2014, when Obi handed over. Debt Management Office records reportedly placed Anambra’s external debt at about $30.32 million at the end of 2013, alongside about ₦3.03 billion in domestic debt. The key issue is the actual outstanding amount at handover, not a current exchange-rate conversion of loans still being serviced years later. Obi’s handover statement listed investments, State and MDA balances, and an approved federal refund totalling ₦91.67 billion. It estimated liabilities at ₦5 billion and stated a net balance of about ₦86.67 billion. These figures can be questioned, but they should be tested against verifiable financial records. A complete loan-by-loan schedule would clarify the matter. It should show each facility’s signing and disbursement dates, amount drawn, balance outstanding in March 2014, repayments under subsequent administrations, and current balance. That is the evidence needed to determine precisely what debt Anambra carried at the end of the Obi administration.

Use The App To Win ₦1m

Stories are shared by community members. This article does not represent the official view of NaijaWorld — the author is solely responsible for its content.