Precious Nwonu, Enugu
President Bola Tinubu is expected to present the 2027 Appropriation Bill to the National Assembly before the end of December 2026, the Minister of State for Budget and Economic Planning, Doris Uzoka-Anite, has disclosed.
Uzoka-Anite made this known on Wednesday while briefing State House correspondents on decisions taken at the Federal Executive Council (FEC) meeting presided over by Tinubu at the State House.
She also announced that the council approved the National Development Plan for 2026–2030, alongside new policy measures aimed at reducing child stunting and improving food security.
Among the approvals was the Revised National Policy on Food and Nutrition 2026, which is expected to replace existing frameworks and promote sustainable funding for nutrition programmes.
According to the minister, the policy will strengthen cooperation among key sectors, including agriculture, livestock, health and education, as well as development partners.
The announcements followed the 32nd Nigerian Economic Summit, held in Abuja from October 26 to 28.
Meanwhile, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has defended the Federal Government’s proposed $21.7bn external borrowing plan, describing it as a long-term investment in infrastructure and other productive assets rather than funds intended for immediate expenditure.
Oyedele explained that the proposal covers a period of about five years and does not mean the entire amount would be borrowed or disbursed at once.
He said $10.6bn had been earmarked for major transportation projects, including the Sokoto–Badagry Highway, Lagos–Calabar Coastal Highway and Kano–Kaduna Metro Rail.
The finance minister added that more than $7.9bn would come from multilateral and bilateral development partners, including a proposed $5bn facility from the World Bank, at an average interest rate of about 2.1 per cent.
The borrowing plan also includes $3.3bn for projects by state governments and $1.45bn for the Federal Capital Territory.
The proposed financing has been presented to the National Assembly for consideration.
Leave a Reply