• Strong Financial Standing: Obi maintained that his administration left the state in a stronger financial position than any other in the nation’s history. He argued that the funds he left behind, if properly managed, could have paid off all foreign debts while continuing to generate significant annual investment income [cite: 27].

• No Direct Borrowing: The former governor categorically stated that he did not approach any financial institution for loans or issue bonds on behalf of Anambra State during his eight-year tenure. He emphasized that his administration was not indebted to any contractor, nor did it owe outstanding salaries, gratuities, or pensions upon his departure in 2014 [cite: 27].

• Debt Attribution Dispute: Obi also clarified the nature of foreign debts attributed to the state, explaining that concessionary facilities from the World Bank and the International Fund for Agricultural Development (IFAD) were secured by the Federal Government and on-lent to states for specific projects. He provided figures showing a modest increase in foreign debt from approximately $18 million at the start of his term to $30 million when he left office in March 2014 [cite: 27].

• DMO Confirmation: Further supporting his claims, Obi referenced former Debt Management Office (DMO) Director-General Abraham Nwankwo, who publicly acknowledged that Obi was the only governor who never sought DMO approval to borrow money during his tenure [cite: 27].

Obi concluded that the presentation of Anambra’s financial position at the time he left office amounted to “very wrong public accounting,” and pointed to his official handover documents as proof of the state’s true financial health.

• Official Market Rates: According to data from the Central Bank of Nigeria (CBN), the local currency traded at an official rate of ₦1,328.6687 per dollar on Thursday, marking a slight shift from Wednesday’s rate of ₦1,328.4974 per dollar.

• Parallel Market Rates: In the parallel (black) market, the naira closed the trading day at ₦1,385 per dollar.

• Commercial and BDC Variances: Actual rates offered by commercial banks, Bureau de Change (BDC) operators, and other authorized dealers may vary due to transaction margins as well as prevailing supply and demand conditions.

Market analysts and participants continue to keep a close watch on forex inflows, underlying dollar demand, and upcoming CBN policies to gauge whether the naira can maintain its stability through the remainder of the month.

Key Highlights from the Governor’s Address:

• Economic Defense: Okpebholo argued that Nigeria is performing well and that President Bola Tinubu is actively stabilizing the economy.

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• The “Cruising Level” Analogy: Comparing current hardships to an aircraft’s takeoff—where passengers must wait for the seatbelt sign to turn off before receiving food—the governor expressed confidence that Nigeria will soon reach a “cruising level” of prosperity.

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• Infrastructure Progress: He highlighted ongoing nationwide concrete pavement road projects as tangible evidence of development under the current administration.

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• Support for 2027 Presidency: Echoing the sentiment of the Oba of Benin that “you don’t change a working President,” Okpebholo dismissed the idea that Aso Rock will be vacant in 2027, declaring that both Nigeria and Edo State are in safe hands.

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The event also marked the launch of emergency federal interventions on the critical Benin-Asaba highway, which the Minister of Works, David Umahi, stated will undergo temporary rehabilitation before being redesigned with reinforced concrete pavement.