Peter Obi, presidential candidate of the Nigeria Democratic Congress (NDC), has maintained that he left office as governor of Anambra State without leaving behind any debt.

Obi, who served two terms as governor before leaving office in 2014, spoke on Thursday during an interview on Arise News while responding to claims that his administration left outstanding loans and liabilities.

The Anambra State Government, through its Commissioner for Information and Value Reorientation, Law Mefor, had said Obi left $123.77 million in external debt at the end of his tenure.

Mefor said the loans were obtained for projects covering malaria control, education, healthcare, erosion management, community development and value chain development.

Responding to the claim, Obi said the funds being described as debts were not loans he personally obtained from banks.

“I told you these are not loans. I didn’t go to the bank,” Obi said.

He said his administration had left more than $150 million in dollar-denominated savings invested in various bonds, generating about $10 million annually for the state.

“As at the time I left office, the dollar components of my savings invested in various bonds were over $150 million, which gives Anambra state guaranteed income of about $10 million yearly.

“Let me assume the worst-case scenario — which is false — that there was $123.7 million owed as of the time I left. I left over $150 million that was earning about $10 million.

“If they just kept the money that I left and were using the income to pay the loan, they would have finished paying it now, with the capital of $150 million still remaining, and still giving Anambra state $10 million annually.

“Assuming your father left you an inheritance of $100 million, and suddenly somebody comes up and says your father is owing $10 million, are you going to go to the market and say your father left you with debts? You would be unfair.”

Obi also distinguished between conventional borrowing and concessionary support from multilateral institutions.

He said the support was facilitated by the Federal Government and the World Bank, which selected Anambra, Ekiti and Bauchi states for the programme because of their performance in education.

“They (federal government) selected Anambra, Ekiti and Bauchi because these three states were doing well in education and said: why don’t we give them concessionary multilateral support to help them do better? It was a decision made by the federal government and the World Bank to give support,” Obi said.

He maintained that even if the $123.77 million debt claim were accurate, the funds he left behind would have been sufficient to repay the liabilities.