The House of Representatives has constituted an ad-hoc committee to investigate debts owed to the Federal Government by state actors, private entities and government agencies, amid growing concerns over Nigeria’s fiscal health.
The House of Representatives on Thursday constituted an ad-hoc committee to investigate outstanding debts owed to the Federal Government, appointing Oluwole Oke of Osun State as chairman.
The committee, mandated to submit its report within four weeks, will identify debtors, assess recovery efforts and recommend measures for retrieving the funds.
Moving the motion, lawmaker Salisu Yusuf raised alarm over Nigeria’s deteriorating fiscal position, noting that “Nigeria’s total public debt surged to N153.29tn as of September 30, 2025, driven by increased domestic borrowing and currency depreciation.”
He added that “debt servicing consumed a significant 47.85% of government revenue in the first nine months of 2025.”
Yusuf argued that successive governments had focused heavily on borrowing while neglecting recovery of funds owed to the government by MDAs, contractors and other institutions.
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