Tinubu to present 2027 budget before year end

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, disclosed this on Wednesday when she briefed State House correspondents on some of the outcomes of the Federal Executive Council meeting.

Uzoka-Anite said the administration is already assembling the proposal, which President Tinubu is expected to present to lawmakers before December 31.

She also said that the FEC had officially endorsed the National Development Plan 2026–2030 alongside new legal frameworks designed to tackle child stunting and boost national food security.

Earlier, Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, clarified that the $21.7 billion borrowing proposal transmitted to the National Assembly by President Tinubu is an investment in assets and not for spending.

Oyedele explained that the proposed $21.7 billion plan represented a multi-year investment plan spanning roughly five years rather than an immediate drawdown.

He disclosed that $10.6 billion of the money was slated for critical transport links, including the Sokoto–Badagry Highway, Lagos–Calabar Coastal Highway, and the Kano–Kaduna Metro Rail.

Oyedele said that over $7.9 billion of the loan would be sourced from multilateral and bilateral development partners (led by $5 billion from the World Bank) at an average interest rate of just 2.1 per cent.

The minister said the government was prioritising favourable financing terms to reduce borrowing costs and ensure that the projects delivered lasting economic benefits.

Cash transfer: 10m households receive over N600bn

The minister also disclosed that more than 10 million households had received over N600 billion in cash transfers, while the Nigerian Education Loan Fund had disbursed N372.6 billion to more than 1.5 million students.

He added that more than 800,000 micro, small and medium-sized enterprises had benefited from subsidised loans at single-digit interest rates.

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