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By Tracy Moses
The House of Representatives has urged the Federal Government to submit a detailed account of all financial interventions granted to states and local governments, aside from the statutory monthly allocations distributed through the Federation Account Allocation Committee (FAAC), covering the period from 2023 to date.
This resolution followed the adoption of a motion moved on Tuesday by Hon. Abdussamad Dasuki, who raised concerns over the absence of transparency and public access to information regarding several forms of financial assistance extended by the Federal Government to subnational governments.
Over the years, the Federal Government has introduced different intervention schemes designed to cushion economic challenges, support infrastructure development, and ease the fiscal pressures faced by states and local councils. These interventions, which run parallel to FAAC disbursements, include budget support loans, infrastructure development funds, ecological and emergency relief grants, as well as other conditional and discretionary aids.
Dasuki, however, observed that while such measures are crucial for stabilizing state and local government finances, there is no central public record showing the total sums involved, beneficiaries, or the timeline of releases. He cautioned that this lack of documentation weakens public trust and complicates the work of oversight institutions.
“The lack of an open and verifiable record of these financial interventions raises valid concerns about fiscal transparency and accountability,” Dasuki said. “It is our constitutional responsibility as lawmakers to ensure that public funds are properly tracked and used in the best interest of Nigerians.”
He further argued that the absence of transparency not only hampers effective monitoring but also makes it difficult for citizens to measure the developmental outcomes of such financial support.
After extensive deliberations, the House directed the Minister of Finance and the Governor of the Central Bank of Nigeria (CBN) to present, within two weeks, a comprehensive report detailing all forms of federal interventions to states and local governments outside FAAC allocations since 2023. The report, lawmakers said, must indicate the amount disbursed, purpose, date of release, beneficiaries, and any conditions attached to each intervention.
In addition, the House mandated its Committees on Finance, Inter-Governmental Affairs, and Public Accounts to scrutinize the report once submitted, consult relevant agencies, and ensure that all such interventions comply with the principles of accountability, transparency, and value for money. The committees are expected to submit their findings within four weeks for further legislative action.
Lawmakers noted that the resolution reflects the National Assembly’s ongoing commitment to deepening fiscal transparency, promoting equitable resource distribution, and ensuring that federal financial interventions are efficiently managed to achieve inclusive national development.