House of Representatives Probes ₦1.3 Billion Allocation to Alleged Non-Existent PFIPC
The House of Representatives has launched an investigation into the proposed allocation of ₦1.3 billion to the Presidential Foreign Investment Promotion Council (PFIPC) in the 2026 budget, an agency said to lack legal recognition.
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The House of Representatives has launched an investigation into the proposed allocation of ₦1.3 billion to the Presidential Foreign Investment Promotion Council (PFIPC) in the 2026 budget, following allegations that the agency does not legally exist. The move marks a critical scrutiny of the budgetary process and raises questions about the legitimacy of certain proposed expenditures.
According to Vanguard News, the House adopted a resolution to establish an ad hoc committee to investigate the alleged inclusion of the PFIPC—a body described as lacking legal backing—in the 2026 Appropriation Framework. The committee’s mandate includes examining the budgetary process and verifying the existence and statutory basis of the council. The report notes that the agency’s inclusion appears to contradict established procedures for creating federal institutions.
Naija News reported that the ₦1.3 billion allocation to PFIPC has drawn sharp criticism, particularly given the absence of public knowledge about the council’s functions or legal establishment. The report emphasizes that while the Senate has not taken similar action, the House’s decision underscores legislative oversight in fiscal accountability. The investigation is expected to assess whether the budget proposal adheres to constitutional and statutory requirements for public spending.
The controversy highlights ongoing concerns about transparency in Nigeria’s budget formulation. As the ad hoc committee begins its work, lawmakers are calling for greater clarity on how such allocations are approved and whether due process was followed. The outcome of the probe could influence future budget deliberations and reinforce demands for stricter verification of proposed agencies and expenditures.