Anambra government challenges Peter Obi’s account of $150m state savings

The Anambra State Government has challenged former governor Peter Obi’s account of saving more than $150 million before he left office in 2014, saying the funds should have been used to address poverty, insecurity and infrastructure needs. Commissioner for Information Law Mefor said the state was not disputing the reported amount of savings, but argued that Mr Obi’s administration showed “an uncomfortable lack of understanding of the purpose of government”. Mr Obi, who was governor from 2006 to 2014, discussed the savings during an interview on Arise News.

Mr Mefor said government existed to improve residents’ security and welfare rather than to save money and earn interest. He listed what he described as shortcomings during Mr Obi’s tenure, including the absence of pipe-borne water, a power plant, an airport and a government house, as well as more than 900 active gully-erosion sites. The commissioner argued that targeted investment in human capital and infrastructure could have produced greater social and economic benefits than the financial returns from savings.

He also said Mr Obi’s administration had collected taxes from poor residents while leaving major public-service and security challenges unresolved. Mr Mefor said successor Willie Obiano used the funds on an airport and other projects, and that poverty and insecurity improved before the emergence of attacks by unknown gunmen from 2021. However, a Premium Times review of Mr Obi’s interview found that the former governor did not specifically say Mr Obiano spent the money.

Mr Obi said successive administrations could have retained the $150 million, used its income to service a loan and preserved the capital. The commissioner further said Mr Obi’s administration took eight external loans between 2007 and 2013 worth $123.7 million, with $92.35 million allegedly outstanding as of June 30, 2026. He also disputed the former governor’s handover figures, saying they omitted liabilities from 101 signed road contracts covering 779 kilometres and valued at N127 billion.

Mr Mefor separately questioned Mr Obi’s claim that N2.13 billion in ecological funds had been left for the incoming administration. He said the cited First Bank account was an internally generated revenue account and contained no such inflow or balance, adding that the state government remained interested in locating the funds.