The House of Representatives has inaugurated an Ad-hoc Committee to investigate the alleged establishment of the Presidential Foreign Investment Promotion Council (PFIPC) and its inclusion in the Federal Budget Framework.
Speaking at the inauguration, the Speaker of the House of Representatives, Rt. Hon. Tajudeen Abbas, said the House was demonstrating its commitment to transparency and accountability through the constitution of the committee.
According to the Speaker, the issue surrounding the Council has generated widespread public interest and dominated media reports, public commentary, and policy debates.
“The subject before this Committee is one that has generated considerable public interest. For weeks now, discussions surrounding the Presidential Foreign Investment Promotion Council have dominated media reports, public commentary, and policy debates. Questions have been raised about its legal status, institutional mandate, operational framework, relationship with existing agencies, and, importantly, its appearance within the Federal Budget Framework despite widespread uncertainty regarding its establishment.
“These questions deserve clear, factual and authoritative answers. The House of Representatives has therefore not constituted this Committee to validate speculation or amplify controversy. Neither is this a political exercise. Our objective is simply to establish the facts,” Abbas said.
The Speaker emphasized that the committee was constituted solely to establish the facts and ensure public confidence in the oversight role of Parliament.
He stated:
“At the 10th House of Representatives, we consider oversight to be more than a constitutional duty. It is the very channel through which citizens take part in governance. Every investigation we launch and every public hearing we conduct reinforces one simple truth: government exists to serve the people, and we must remain answerable to them.”
Abbas outlined the committee’s terms of reference, directing it to:
- Determine the legal basis, if any, for the establishment and operation of the Presidential Foreign Investment Promotion Council.
- Investigate the circumstances surrounding the creation of the Council and whether the constitutional and statutory procedures were followed.
- Examine the Council’s mandate, powers, governance structure, funding sources, operational activities, and relationship with existing statutory agencies responsible for investment promotion, economic planning, and public finance.
- Investigate how the Council was included in the Federal Budget Framework, identify the approvals and authorisations involved, and determine whether due process was followed.
- Assess whether the Council duplicates the statutory functions of existing government institutions and evaluate the implications for public administration, fiscal responsibility, and institutional efficiency.
- Receive memoranda and testimonies from relevant Ministries, Departments and Agencies (MDAs), constitutional bodies, experts, civil society organisations, and members of the public to aid its investigation.
The Speaker further stressed that democracy thrives when facts prevail over rumours and accountability takes precedence over opacity.
“Where legitimate public questions exist, Parliament has both the authority and the obligation to seek answers in an open, fair and transparent manner,” he said.
He added that the committee would ultimately recommend any legislative, administrative, or institutional reforms necessary to strengthen transparency, eliminate ambiguity, prevent duplication of functions, safeguard public resources, and reinforce accountability in the establishment and funding of public institutions.
According to Abbas:
“These Terms of Reference underscore that this inquiry is not about personalities. It is about institutions. More importantly, it is about the integrity of public administration. Every public institution must derive its authority from law and exercise its responsibilities within the limits prescribed by law.”
Chairman of the Ad-hoc Committee, Hon. Yusuf Gagdi, assured Nigerians that the committee would discharge its assignment diligently and in the national interest.
According to Hon. Gagdi, the committee would engage all relevant stakeholders and conduct a thorough investigation before presenting its findings to the House.
“I am confident that through our collective commitment and professionalism, we shall produce a report that will not only assist the House in arriving at informed decisions but also strengthen our democratic institutions and reinforce the rule of law.
“As we formally commence this assignment today, I pray that Almighty God grants us wisdom, discernment, courage, and the fear of God to faithfully discharge this responsibility. May He guide our deliberations and recommendations so that our work will advance justice, uphold the Constitution, and serve the best interests of the Federal Republic of Nigeria.”
Hon. Gagdi described the assignment as both significant and sensitive.
He said:
“Our mandate is to objectively examine the circumstances surrounding the alleged establishment and operations of the Presidential Foreign Investment Promotion Council, determine whether due constitutional and statutory processes were followed, engage all relevant stakeholders, carefully review the available evidence, and submit appropriate findings and recommendations to the House. We shall approach this assignment with an open mind, guided only by the Constitution, the law, credible evidence, and the overriding national interest.”
Also speaking, the Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Dr. Musa Adamu Aliyu, said the Commission would make the necessary submissions to the committee in due course.
The Head of the Civil Service of the Federation, Mrs. Didi Esther Walson-Jack, also briefed the committee on the sequence of interactions involving the PFIPC and submitted relevant documents to assist the investigation.
Lumidy’s Blog NG reports that the committee is expected to engage key stakeholders, review documentary evidence, and submit its findings and recommendations to the House of Representatives upon the conclusion of its investigation.
