The House of Representatives on Thursday set up an ad-hoc committee to investigate debts owed to the Federal Government by state agencies, private organisations, and ministries, departments and agencies. The committee will be led by Oluwole Oke, who represents Obokun/Oriade Federal Constituency in Osun State.
The decision followed the adoption of a motion during plenary, moved by Salisu Yusuf and five other lawmakers. The lawmakers said the panel will look into all outstanding debts, identify those owing the government, review recovery efforts, and suggest ways to recover the funds.
Yusuf raised concern about Nigeria’s rising debt and weak revenue situation, saying the country’s financial pressure is growing because of unpaid money owed to government bodies. He noted that as of September 30, 2025, Nigeria’s total public debt reached about ₦153.29 trillion, driven by both local and foreign borrowing as well as currency value changes.
He also explained that more than half of the debt is domestic, while the rest is external, adding that a large share of government income is used for debt repayment within the first nine months of 2025.
The lawmaker said many countries, including Nigeria, took loans after the COVID-19 period to support their economies, and some reforms introduced by the current administration have helped improve currency stability in recent times.
However, he said attention has not been enough on recovering money owed to the Federal Government by individuals, companies, government agencies, and other bodies. According to him, these debts include judgment debts, unpaid taxes, and other financial obligations both within and outside the country.
He also recalled the creation of the Presidential Initiative on Continuous Audit in 2015, which was meant to improve monitoring of government spending and revenue collection.
Yusuf said the failure to recover these debts is affecting government finances at a time when spending needs are rising due to infrastructure demands and other national needs.
The House then asked the committee to carry out a full investigation and submit its report within four weeks for further action.
Lawmakers said the move is aimed at improving government revenue without increasing tax pressure on citizens already facing economic hardship.
The investigation is expected to review how government agencies handle debt recovery and may lead to tighter rules on the collection of public funds.