🇳🇬NigeriaWest Africa
House of Representatives establishes committee to investigate debts owed to Federal Government
via Punch Nigeria3 min read
The House of Representatives has formed an ad-hoc committee to investigate outstanding debts owed to the Federal Government by state actors, private entities, and Ministries, Departments and Agencies. Oluwole Oke, representing Obokun/Oriade Federal Constituency, will chair the committee. The committee's mandate includes identifying debtors, assessing current recovery efforts, and recommending strategies for fund recovery. This initiative follows a motion highlighting Nigeria's increasing debt burden, which reached N153.29tn by September 30, 2025, with debt servicing consuming 47.85% of government revenue in the first nine months of 2025. Lawmakers expressed concern that insufficient attention has been given to recovering funds owed to the government, exacerbating fiscal challenges. The investigation aims to address the revenue crisis and the unlawful retention of public funds, which negatively impacts the economy amid rising debt obligations and infrastructure deficits. The committee is expected to submit its report within four weeks.
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This summary was AI-generated from a story originally published by Punch Nigeria.
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