Tinubu to present 2027 Budget before end of 2026

President Bola Tinubu is expected to present the 2027 Appropriation Bill to the National Assembly before the end of 2026.

The Minister of State for Budget and Economic Planning, Doris Uzoka-Anite, disclosed this on Wednesday when she briefed State House Correspondents on some of the outcomes of the Federal Executive Council Meeting chaired by President Bola Tinubu at the Council Chamber of the State House.

She also said that the FEC had officially endorsed the National Development Plan 2026–2030 alongside new legal frameworks designed to tackle child stunting and boost national food security.

Speaking with correspondents following the council meeting, Uzoka-Anite announced the key approvals while reflecting on the successful conclusion of the 32nd edition of the Nigerian Economic Summit (NES) held in Abuja from October 26 to October 28.

She said FEC also approved a Revised National Policy on Food and Nutrition (2026) to replace older frameworks to establish sustainable financing and strengthen inter-ministerial collaboration across agriculture, livestock, health, education, and development partners.

Earlier, Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele,
clarified that the $21.7 billion borrowing proposal transmitted to the National Assembly by President Bola Tinubu is an investment in assets and not for spending.

Oyedele explained that the proposed $21.7 billion plan represented a multi-year investment plan spanning roughly five years rather than an immediate drawdown.

He disclosed that $10.6 billion of the money was slated for critical transport links, including the Sokoto–Badagry Highway, Lagos–Calabar Coastal Highway, and the Kano–Kaduna Metro Rail.

Oyedele said that over $7.9 billion of the loan would be sourced from multilateral and bilateral development partners (led by $5 billion from the World Bank) at an average interest rate of just ~2.1 per cent.

He said $3.3 billion is earmarked directly for state government projects, with an additional $1.45 billion set aside for the Federal Capital Territory (FCT), ​out of the overall package.

Credit: channelstv.com

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