DMO Records Show Rise in Anambra State's External Debt During Obi's Tenure
What happened
The Debt Management Office (DMO) maintains records of Anambra State’s external debt, showing a rise during Peter Obi’s tenure as governor. The DMO data indicates that the state’s external debt was $16.87 million in December 2006. By the time Obi left office in March 2014, the debt had increased to $30.32 million, representing about an 80 per cent rise over that period.
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Why it matters
These figures are central to an ongoing dispute between Peter Obi and the current Anambra State Government regarding financial liabilities inherited by successive administrations. The current state government states that Obi’s administration left eight external loan facilities that subsequent governments have continued to service.
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Who's involved
- Anambra StateState government whose financial liabilities are under dispute.
- Debt Management OfficeAgency responsible for officially tracking and verifying Anambra State's external debt.
- Peter ObiFormer governor of Anambra State whose administration's financial legacy is questioned.
How this reaches others
Each traced step by step, with the reporting behind itKeep exploring
The entities involved
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Anambra State
state in Nigeria
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Debt Management Office
nigeria’s public debt manager
Related events
- Anambra State is repaying loans from previous administrations, with deductions made from federal allocation.
- A dispute has emerged regarding the financial liabilities of Anambra State, involving Peter Obi.
- Nigerian banks held commercial debt obligations, and the government expanded commercial financing for infrastructure via syndicated loans.