Reps Form Committee to Investigate FG Debt Recovery
On Thursday, the House of Representatives of Nigeria inaugurated an ad hoc committee to investigate debts owed to the Federal Government by states and private entities. The committee, chaired by Oluwol Ok, was formed following a motion moved by Salisu Yusuf, reflecting concerns over Nigeria's growing debt burden and declining revenue.
The committee is tasked with examining outstanding liabilities, identifying debtors, assessing recovery efforts by relevant agencies, and recommending measures to recover funds. Yusuf expressed worries about the country's fiscal challenges, noting that as of September 30, 2025, Nigeria's total public debt had surged to ₦153.29 trillion, driven by increased domestic borrowing and currency depreciation.
The committee is expected to submit its report within four weeks, amid rising concerns regarding the sustainability of Nigeria's debt and the impact of high debt servicing costs on government revenue.
Plus234Feed summary based on reporting from Punch Newspapers. Read the original report below.
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