President Bola Tinubu is expected to present the 2027 Appropriation Bill to the National Assembly before December 31, 2026, as the Federal Government prepares its spending plan for the next fiscal year.
The Minister of State for Budget and Economic Planning, Doris Uzoka-Anite, disclosed this on Wednesday. She briefed State House correspondents on the outcomes of the Federal Executive Council (FEC) meeting.
Uzoka-Anite said the administration had started preparing the budget proposal. She also announced that the FEC had endorsed the National Development Plan 2026–2030.
The council also approved new legal frameworks to tackle child stunting and strengthen national food security. Meanwhile, the 2027 Appropriation Bill will outline the government’s spending priorities and economic plans for the coming year.
Why FG Is Borrowing $21.7bn
Earlier, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, explained the government’s proposed $21.7 billion borrowing plan.
Oyedele said the loan proposal submitted to the National Assembly was an investment in assets, not routine government spending.
He explained that the plan covered about five years. Therefore, the government would not draw down the entire amount immediately.
The minister said $10.6 billion would fund major transport projects. These include the Sokoto–Badagry Highway, Lagos–Calabar Coastal Highway and Kano–Kaduna Metro Rail.
Oyedele added that more than $7.9 billion would come from multilateral and bilateral development partners. He said the World Bank would provide $5 billion.
According to the minister, the proposed financing would carry an average interest rate of 2.1 per cent. He said the government was seeking favourable terms to reduce borrowing costs and secure lasting economic benefits.
Cash Transfers Reach Over 10 Million Households
The minister also disclosed that more than 10 million households had received over N600 billion through cash transfers.
He added that the Nigerian Education Loan Fund had disbursed N372.6 billion to more than 1.5 million students.
Furthermore, over 800,000 micro, small and medium-sized enterprises had benefited from subsidised loans at single-digit interest rates.
These programmes form part of the administration’s efforts to support vulnerable households, improve access to education and help businesses grow.
Budget to Shape 2027 Economic Priorities
The proposed 2027 budget will provide an opportunity for the government to set its spending priorities and allocate resources to key sectors.
Following the presidential presentation, lawmakers will examine the estimates and engage relevant ministries, departments and agencies before approving the final document.
The proposed borrowing plan, cash transfers and development programmes are also likely to attract attention as the government prepares its next fiscal strategy.
As Nigerians await the budget presentation, the key test will be whether the government can translate its spending plans into better infrastructure, stronger food security, job creation and improved living conditions. Effective implementation and accountability will be essential to ensure that public funds deliver tangible benefits to citizens.
