President Bola Ahmed 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 outcomes of the Federal Executive Council (FEC) meeting.
She said the Federal Government had begun preparing the budget proposal, which Tinubu is expected to submit to lawmakers before December 31.
The minister also announced that the FEC had endorsed the National Development Plan 2026–2030, alongside new legal frameworks aimed at addressing child stunting and strengthening national food security.
FG Explains $21.7bn Borrowing Plan
Meanwhile, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has explained that the proposed $21.7 billion borrowing plan transmitted to the National Assembly by President Tinubu is intended to finance investments in assets rather than recurrent expenditure.
Oyedele said the proposal represents a multi-year investment programme spanning approximately five years, rather than an immediate drawdown of the entire amount.
According to him, $10.6 billion is earmarked for critical transport infrastructure, including the Sokoto–Badagry Highway, Lagos–Calabar Coastal Highway and Kano–Kaduna Metro Rail.
He added that more than $7.9 billion would be sourced from multilateral and bilateral development partners, including $5 billion from the World Bank.
The minister said the proposed development financing carries an average interest rate of 2.1 per cent, noting that the government is prioritising favourable borrowing terms to reduce costs and ensure that the projects deliver long-term economic benefits.
Over 10 Million Households Receive N600bn in Cash Transfers
Oyedele also disclosed that more than 10 million households had received over N600 billion through government cash transfer programmes.
He further said the Nigerian Education Loan Fund (NELFUND) had disbursed N372.6 billion to more than 1.5 million students to support access to higher education.
According to the minister, more than 800,000 micro, small and medium-sized enterprises (MSMEs) had also benefited from government-backed loans offered at single-digit interest rates.
The disclosures come as the Federal Government prepares its 2027 budget proposal and outlines its development priorities, including infrastructure investment, social protection, education financing and support for small businesses.
