Tinubu to Present 2027 Budget Before Year-end—Uzoka-Anite

By Adedapo Adesanya

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, Mrs Doris Uzoka-Anite, has said.

Mrs Uzoka-Anite disclosed this on Wednesday while briefing State House correspondents on the outcomes of the Federal Executive Council (FEC) meeting chaired by President Tinubu at the State House in Abuja.

She said the council also endorsed the National Development Plan 2026–2030 and approved a Revised National Policy on Food and Nutrition (2026) to strengthen food security, address child stunting and improve collaboration among relevant ministries and development partners.

Meanwhile, the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, said the proposed $21.7 billion borrowing plan submitted to the National Assembly was designed to finance investments in infrastructure and other assets rather than recurrent spending.

Mr Oyedele explained that the proposal covered a multi-year investment programme spanning approximately five years, rather than an immediate drawdown of the entire amount.

He said $10.6 billion was earmarked for major transport infrastructure projects, including the Sokoto–Badagry Highway, Lagos–Calabar Coastal Highway and Kano–Kaduna Metro Rail.

According to him, more than $7.9 billion would be sourced from multilateral and bilateral development partners, including $5bn from the World Bank, at an average interest rate of about 2.1 per cent.

Mr Oyedele added that $3.3 billion was allocated to state government projects, while another $1.45 billion was earmarked for projects in the Federal Capital Territory.

President Tinubu this week wrote to the Senate, seeking approval of a supplementary external borrowing plan of $20.52 billion and €1.045 billion to finance infrastructure and development projects across the country.

He noted that the proposed borrowing is necessary to bridge Nigeria’s infrastructure funding gap, sustain economic growth, generate employment and improve the living conditions of Nigerians, urged the National Assembly to give the plan urgent consideration and approval to facilitate the timely release of funds and implementation of the projects.

In the letter, the president said the proposed external financing will support projects and programmes spanning virtually every sector of the economy.

“The 2026–2027 Supplementary External Borrowing Plan cuts across all sectors, with specific emphasis on infrastructure, agriculture, health, education, water supply, growth, security and employment generation, as well as financial management reforms, amongst others,” he said.

According to the letter, the proposed facilities cost $20,517,755,901 and €1,045,083,643.