Tinubu To Present 2027 Budget As FEC Approves New Development Plan
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, has said.
Uzoka-Anite disclosed this on Wednesday while briefing State House correspondents on the outcome of the Federal Executive Council (FEC) meeting chaired by Tinubu.
She also announced the council’s approval of the National Development Plan 2026–2030 and a revised National Policy on Food and Nutrition for 2026.
The revised policy is intended to strengthen efforts to tackle child stunting, improve food security and promote collaboration among relevant ministries and development partners.
Meanwhile, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has defended the Federal Government’s proposed $21.7 billion borrowing plan, describing it as a multi-year investment programme rather than funds intended for immediate spending.
Oyedele said $10.6 billion would be directed towards major transport projects, including the Sokoto–Badagry Highway, Lagos–Calabar Coastal Highway and Kano–Kaduna Metro Rail.
He added that more than $7.9 billion would come from multilateral and bilateral development partners, with the World Bank expected to provide $5 billion at an average interest rate of about 2.1 per cent.
The proposal also includes $3.3 billion for state government projects and $1.45 billion for the Federal Capital Territory.
The borrowing proposal has been transmitted to the National Assembly for consideration.
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