House to Probe N226.3bn Judgement Debts Incurred by Government’s MDAs

*Urges SON to check proliferation of sub-standard steel products

*Advises FCCPC to live up its core mandate 

Adedayo Akinwale and Juliet Akoje in Abuja

The House of Representatives has resolved to investigate the sum of N226,281,801,881.64 judgement debt incurred by Ministries, Departments and Agencies (MDAs) of the government.

The resolution House followed the adoption of a motion on the urgent need to ensure the prompt payment of top priority judgement debt incurred by MDAs through Promissory Notes, moved at the plenary yesterday, by Hon. Lanre Okunlola.
Moving the motion, the lawmaker stressed the need for resolving top priority judgement debt incurred by MDA through the issuance of promissory notes in the sum $556,754,584.31 and £398,526.17.

He said: “The various MDAs of government have incurred substantial judgement debt totaling the sum of $556,754,584.81, £98,526.17 and N 226,281,801,881.64 which pose a significant financial burden on our nation’s finances.”
 Okunlola emphasised that the judgement debts were top priority obligations that required prompt resolution to ensure the financial stability and reputation of government.

He was of the opinion that it was essential to address the judgement debts in a responsible and transparent manner.
To this end, the House resolved to investigate the existence and magnitude of the judgement debt incurred by MDAs.
Furthermore, the House, “Recognises the urgency of addressing these judgement debts to safeguard the financial stability of our government.
“Authorise the issuance of Promissory Note to settle these judgement debts.”

The lawmakers also mandated its Committee on Aids, Loans and Debt Management to oversee the process of issuing promissory notes and report to the House accordingly.
Meanwhile, the House of Representatives, yesterday urged the Standard Organisation of Nigeria (SON) to check the proliferation of sub-standard steel production in Nigeria.

The House also called on SON to commence massive enforcement of its mandate to prosecute anyone dealing in substandard steel products to face the law as enshrined in section (4) sub section (l) of the Standard Organisation of Nigeria (SON) Act,2015.
The lawmakers further urged the Federal Competition and Consumer Protection Commission (FCCPC) to live up to its core mandate as stipulated in the Federal Competition and Consumer Protection Act of 2018 (FCCPA) by eliminating hazardous and substandard products from the market.

These resolutions followed the adoption of a motion on “the need to curb proliferation of sub-standard steel production in Nigeria,” moved by Hon. Aluko Ahmed Yinka.
Yinka, noted that the increasing rate of building collapse claiming the lives of Nigerians, was not unconnected to the circulation of substandard steel products.