Lawmakers from 16 African countries have converged in Abuja with a shared determination to stem the massive loss of public funds estimated at $587 billion annually caused by corruption, illicit financial flows, and weak fiscal oversight.

The 8th Conference of the African Network of Parliamentary Budget Offices (AN-PBO), held at the Abuja Continental Hotel, brought together delegations from Nigeria, Ghana, Kenya, South Africa, Uganda, and other nations, who pledged to strengthen budget scrutiny and plug fiscal leakages fueling capital flight.

Speaker of Nigeria’s House of Representatives, Tajudeen Abbas, in a keynote address, described the moment as a turning point for Africa’s development.
“Every year, billions that should be building hospitals in Nairobi, equipping schools in Accra, or paving roads in Lagos vanish into illicit flows and profit shifting. Corruption alone drains Africa of $148 billion annually. This is unsustainable,” Abbas declared.

He highlighted Nigeria’s own fiscal vulnerabilities, noting that procurement fraud costs the country \$18 billion yearly—representing 3.8% of GDP.

To address this, Abbas reaffirmed the legislature’s support for the National Assembly Budget and Research Office (NABRO), an independent, non-partisan agency modeled after the U.S. Congressional Budget Office.
“NABRO will empower lawmakers to interrogate budgets, demand accountability, and ensure public money truly works for the people. With robust oversight and reliable data, we can prevent waste and restore public trust,” he said.

Clerk to the National Assembly, Barr. Kamoru Ogunlana, described the summit as more than a technical meeting, calling it “a springboard for innovation and a moment to reimagine fiscal governance across the continent.”

The four-day summit will feature workshops and strategy sessions on how to strengthen Parliamentary Budget Offices (PBOs) to provide evidence-based fiscal analysis and enable legislatures to serve as true watchdogs over public spending.

Delegates hailed the Abuja conference as a milestone in Africa’s effort to combat financial leakages that hinder growth and perpetuate poverty.

The resolutions adopted, they said, could mark a continental shift toward fiscal discipline, transparency, and accountable governance.