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 while briefing State House correspondents on the outcomes of the Federal Executive Council (FEC) meeting chaired by Tinubu in Abuja.
She also announced that the council had approved the National Development Plan 2026–2030 and a revised national policy on food and nutrition aimed at tackling child stunting and strengthening food security.
The revised National Policy on Food and Nutrition (2026) is expected to replace existing frameworks and promote sustainable financing and stronger collaboration among ministries responsible for agriculture, livestock, health and education, alongside development partners.
The announcements followed the 32nd Nigerian Economic Summit, held in Abuja earlier this month.
Meanwhile, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has clarified that the proposed $21.7bn borrowing plan submitted to the National Assembly is intended to finance investments rather than recurrent expenditure.
Oyedele said the proposal represents a multi-year investment programme spanning about five years, rather than an immediate withdrawal of the entire amount.
He said $10.6bn would be allocated to major transport infrastructure projects, including the Sokoto–Badagry Highway, Lagos–Calabar Coastal Highway and Kano–Kaduna Metro Rail.
According to the minister, more than $7.9bn would come from multilateral and bilateral development partners, with the World Bank expected to provide $5bn. The loans would carry an average interest rate of about 2.1 per cent.
The plan also includes $3.3bn for projects by state governments and $1.45bn for the Federal Capital Territory.
The proposed financing package is expected to support infrastructure development across the country, while the government’s planned 2027 budget will outline its spending priorities for the coming fiscal year.
