ABUJA, Nigeria: Nigeria’s House of Representatives established an ad-hoc committee on Thursday, May 7, 2026, to investigate debts owed to the Federal Government of Nigeria by state actors, private entities, and government agencies.
Okay News reports that Salisu Yusuf moved the motion adopted at plenary, leading to the appointment of Oluwole Oke, the representative for the Obokun/Oriade Federal Constituency of Osun State, as chairman of the panel.
Yusuf detailed the national debt profile to the legislative body, highlighting figures that amount to approximately $102.19 billion USD. “As of September 30, 2025, Nigeria’s total public debt surged to N153.29tn, driven by increased domestic borrowing and currency depreciation,” Yusuf said.
He added, “The debt portfolio composed of over 53% domestic debt and roughly 47% external with debt servicing consuming a significant 47.85% of government revenue in the first nine months of 2025.”
The legislative motion focused on the failure to recover funds owed to federal authorities. “The House is aware that the Federal Government of Nigeria is owed huge sums of money within and outside the country, including judgment debts,” Yusuf said. “These sums are held by state and non-state actors, Ministries, Departments and Agencies of government.”
The committee led by Oke is mandated to conduct a comprehensive investigation into the outstanding liabilities and submit its report within four weeks for legislative action.
