The House of Representatives has taken significant actions to address critical issues affecting Nigeria’s revenue and governance in two separate motions.

Firstly, the House has resolved to investigate allegations of abuse of tax incentives, tax breaks, and tax waivers by public institutions and companies, resulting in an estimated loss of N14 trillion in revenue. The investigation aims to identify the companies involved and assess the extent of the losses.

Additionally, the House has decided to limit crude oil lifting contracts to companies listed on the Nigerian Exchange Group, in an effort to enhance transparency, governance, and accountability in the oil and gas sector. The move intends to curb revenue losses caused by briefcase companies lacking the necessary capacity and expertise.

Furthermore, the House has undertaken an inquiry into the utilization of ecological funds allocated to the Great Green Wall initiative, aiming to examine the utilization of international funding, federal allocations, and contracts awarded for the project since 2015. These measures reflect the House’s commitment to addressing financial mismanagement, promoting accountability, and safeguarding the country’s economic stability.