The House of Representatives has constituted an ad-hoc committee to investigate debts owed to the Federal Government by state actors, private organisations, and Ministries, Departments and Agencies (MDAs).
The resolution followed concerns raised by lawmakers over Nigeria’s rising debt burden and declining revenue profile.
Leading the motion, a member of the House Salisu Yusuf warned that the continued failure to recover outstanding funds owed to the government was worsening the country’s fiscal challenges and putting additional pressure on public finances.
According to the lawmaker, successive administrations have focused heavily on debt servicing and fresh borrowing while paying limited attention to recovering funds owed to the Federal Government.
He also referenced the establishment of the Presidential Initiative on Continuous Audit in 2015, which was created to strengthen financial oversight and improve accountability in government spending.
The House expressed concern that the inability to recover public funds had contributed to Nigeria’s revenue crisis and encouraged the unlawful retention of government resources.
Lawmakers further noted that the situation was negatively affecting the economy at a time when the country is facing rising debt obligations, infrastructure deficits, and mounting fiscal pressures.
The House subsequently appointed Oluwole Oke as chairman of the investigative panel.
The committee is expected to examine all outstanding liabilities owed to the Federal Government, identify debtors, review recovery efforts by relevant agencies, and recommend measures for recovering the funds.
The Oke-led panel has been given four weeks to complete its investigation and submit its report for further legislative action.
