The house of representatives on Thursday inaugurated an ad-hoc committee to investigate debts owed to the federal government by Ministries, Departments and Agencies (MDAs), private organisations and other state actors.
The committee, chaired by Oluwole Oke, the lawmaker representing Obokun/Oriade Federal Constituency of Osun State was constituted following the adoption of a motion moved during plenary by Rep. Salisu Yusuf and five other lawmakers.
The panel was mandated to identify individuals and organisations owing the federal government, assess ongoing recovery efforts by relevant agencies and recommend measures for recovering the outstanding funds.
Speaking while presenting the motion, Yusuf expressed concern over Nigeria’s growing debt profile and declining revenue base, warning that failure to recover public funds owed to the government was worsening the country’s fiscal challenges.
According to him, Nigeria’s total public debt rose to N153.29 trillion as of September 30, 2025, driven largely by increased domestic borrowing and exchange rate depreciation.
He noted that debt servicing accounted for a significant portion of government revenue within the same period, placing additional pressure on public finances.
The lawmaker stated that while governments at different levels had continued to focus on borrowing and debt servicing, little attention had been paid to recovering monies owed to the Federal Government.
He said several state and non-state actors, including government agencies and private entities, were yet to remit huge sums due to the government through taxes, royalties, judgment debts and operating surpluses.
Yusuf also recalled the establishment of the Presidential Initiative on Continuous Audit in 2015 to strengthen accountability and oversight in government spending.
He, however, lamented that weak enforcement mechanisms and bureaucratic bottlenecks had continued to frustrate debt recovery efforts.
“The House is aware that the federal government of Nigeria is owed huge sums of money within and outside the country, including judgment debts,” he said.
He warned that the continued failure to recover the debts had compounded Nigeria’s revenue crisis and encouraged unlawful retention of public funds.
Following deliberations, the house directed the committee to conduct a comprehensive investigation into the outstanding liabilities and submit its report within four weeks for further legislative action.
