Revenue Recovery: How Hon. Salam, Umaru are forcing the big boys to account
By Comrade Olumuyiwa Onlede
September 10, 2025
In an era where Nigeria grapples with economic pressures and a pressing need to diversify and boost its revenue sources, the actions of dedicated public institutions and individuals in government become more critical than ever. The Public Accounts Committee (PAC) of the House of Representatives has stood out as a beacon of transparency, accountability, and proactive governance. Under the diligent stewardship of its members, and in particular the vibrant and professional Deputy Chairman, Honourable Jeremiah Umaru, the committee has made significant strides in holding powerful entities accountable and recovering critical public funds.
One of the committee’s most commendable achievements in recent times has been the recovery of over 200 billion naira in unpaid revenues from International Oil Companies (IOCs). These funds, which would have otherwise remained unaccounted for, are now being redirected back into the national treasury, a development that could not have come at a more crucial time.
This recovery effort underscores the importance of legislative oversight and financial accountability in Nigeria’s democratic system. Honourable Jeremiah Umaru, a seasoned and professional Chartered Accountant, under the leadership of Honourable Bamidele Salam, the Chairman Public Accounts Committee of the House of Representatives brought to bear his expertise, attention to detail, and unwavering commitment to public service throughout the process. His background in finance and deep understanding of audit processes made him an invaluable asset to the committee, ensuring that loopholes were identified and that international stakeholders were held to their contractual and fiscal obligations.
Noteworthy is the impact of these recovered funds that cannot be overstated. At a time when Nigeria is facing budgetary constraints, dwindling oil revenues, and increasing pressure to fund essential infrastructure and social programs, the additional revenue has helped stabilize fiscal plans and reinforce critical sectors of the economy.
More so, the effort has sent a strong message to both local and international corporations: Nigeria is serious about fiscal responsibility and will enforce its laws to protect public interest. This move strengthens investor confidence and reinforces the country’s commitment to sound financial governance.
This milestone by the PAC, under the watch of Honourable Bamidele Salam (Committee Chairman) and Honourable Jeremiah Umaru (Deputy Chairman) and their colleagues, is a compelling reminder of the importance of a vibrant and empowered legislative arm. The dividends of democracy are best realized when all arms of government perform their constitutional roles effectively especially the legislature, which not only makes laws but also ensures compliance through oversight.
It is, therefore, imperative for Nigerians to support the National Assembly and its various committees as they carry out these important duties.
Rather than being seen as an appendage, the legislature must be recognized as a critical driver of accountability, development, and representation.
Honourable Jeremiah Umaru PAC Committee Deputy Chairman, who has been supportive to the Chairman exemplifies what it means to merge professional expertise with public service. His work within the PAC demonstrates how technical competence and a sense of national duty can combine to produce results that genuinely benefit the country.
As a Chartered Accountant, his contributions have not only led to tangible financial recovery but have also raised the standard of legislative oversight in Nigeria.
The achievements of the Public Accounts Committee are commendable and deserving of national recognition.
The effort of the Committee is not just about recovered funds they are about restoring trust in governance, promoting transparency, and ensuring that every naira owed to Nigeria is accounted for. In times of economic uncertainty, such accountability is priceless.
As citizens, policymakers, and stakeholders, we must rally behind the legislature and continue to demand and support the kind of diligent, transparent, and patriotic leadership exemplified by Honourable Umaru and the PAC. Only then can we continue to reap the true dividends of democracy and representation.
Comrade OlumuyiwaOnlede, ytlc
Public Affairs Analyst
Writes from Abuja