Reps Set Up Committee to Recover Debts Owed to Federal Government

The House of Representatives has constituted an ad-hoc committee to investigate and recover debts owed to the Federal Government by state actors, private organisations, and Ministries, Departments and Agencies.

The committee will be chaired by Oluwole Oke, who represents Obokun/Oriade Federal Constituency of Osun State.

The decision followed the adoption of a motion sponsored by lawmaker Salisu Yusuf and five other members during plenary on Thursday.

The panel is expected to identify debtors, assess efforts already made by government agencies to recover the funds, and recommend measures for the recovery of outstanding liabilities.

Speaking during the debate, Yusuf expressed concern over Nigeria’s rising debt profile and declining revenue base, warning that failure to recover funds owed to the government was worsening the country’s fiscal challenges.

According to him, Nigeria’s total public debt had risen to N153.29 trillion as of September 30, 2025, driven largely by increased domestic borrowing and currency depreciation.

He further stated that debt servicing consumed about 47.85 per cent of government revenue within the first nine months of 2025.

The lawmaker noted that several countries, including Nigeria, resorted to borrowing and other economic interventions after the COVID-19 pandemic to stabilise their economies.

While acknowledging some improvements in the economy, including the relative stability of the naira, Yusuf argued that more attention must be paid to recovering public funds owed to the government rather than relying heavily on fresh borrowing.

He stated that huge sums of money remain unpaid by both government and non-government actors, including unpaid taxes, unremitted operating surpluses, royalty obligations, judgment debts, and other liabilities.

Yusuf also referenced the Presidential Initiative on Continuous Audit established in 2015 to strengthen accountability and improve oversight of government finances.

Lawmakers expressed concern that weak enforcement mechanisms and bureaucratic bottlenecks had continued to frustrate debt recovery efforts, thereby worsening the country’s revenue crisis.

The House directed the Oke-led committee to conduct a comprehensive investigation and submit its report within four weeks for further legislative action.

The move is part of broader efforts by lawmakers to improve government revenue generation without placing additional financial pressure on citizens already facing inflation and rising living costs.