The House of Representatives’ Public Accounts Committee (PAC) on Monday announced the recovery of over N200 billion in lost revenue for the federal government within the last year.
Chairman of the committee, Hon. Bamidele Salam, disclosed this at the 11th Annual Conference and General Assembly of the West Africa Association of Public Accounts Committees (WAAPAC), which Nigeria is hosting for the first time since the body was established in 2009.
The five-day programme, holding from September 8 to 12 at the National Assembly Complex, Abuja, is themed “Strengthening Parliamentary Oversight of Public Debt: The Role of Finance and Public Accounts Committees.”
Salam explained that the recovered sum, estimated at $150 million, was made possible through “pragmatic measures” to strengthen fiscal compliance, enhance transparency, and boost efficiency in public financial management.
“This recovery demonstrates the power of legislative oversight when combined with institutional reforms and proactive engagement,” Salam said.
He noted that the recovery is among the most significant achievements of the committee since Nigeria’s return to democracy in 1999. The PAC, he said, had completed several reports duly adopted by the House, while one report was unusually rejected—“a healthy reminder that democracy thrives on scrutiny and debate.”
Another milestone, according to him, is the passage of the long-awaited Audit Bill by the House of Representatives.
The legislation, now awaiting concurrence at the Senate before transmission to President Bola Tinubu for assent, will provide a long-overdue legal framework for Nigeria’s Supreme Audit Institution, which has operated for decades without one.
“We are earnestly looking forward to the Senate’s concurrence and presidential assent to remove Nigeria from the list of countries without a proper legal framework for its supreme audit institution,” Salam stated.
The PAC has also taken steps to deepen transparency and accountability. In July, it convened Nigeria’s first national conference on public engagement in oversight, bringing together lawmakers, civil society, professional bodies, and technocrats to reimagine legislative scrutiny and build stronger fiscal discipline.
The committee also launched the WAAPAC Magazine, which offers citizens and development partners insight into its activities, findings, and recommendations.
Beyond domestic reforms, Salam said Nigeria’s PAC has intensified cross-border parliamentary cooperation, exchanging experiences with sister parliaments in Ghana, Kenya, and Rwanda, and hosting delegations from Uganda and Zimbabwe.
“These exchanges promote peer learning and help entrench best practices across the continent,” he noted, stressing that regional collaboration through WAAPAC is crucial in addressing Africa’s growing public debt crisis.
The conference continues in Abuja with participants expected to deliberate on innovative ways to strengthen oversight and enhance fiscal responsibility across West Africa.
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