Nigeria's 50-Year Economic Blueprint Bill Advances

The House of Representatives debated a bill on Wednesday that seeks to establish a 50-year national economic plan for Nigeria, covering the period from 2026 to 2076. The bill, sponsored by Amobi Ogah, aims to provide a legal framework to ensure continuous coordination and accountability in economic planning.

Ogah highlighted Nigeria's poor track record in implementing development plans, citing issues such as frequent policy changes, weak institutions, and lack of legal backing that have led to abandoned projects and inefficient use of public resources. He emphasized the need for reform and stated that the proposed plan would promote macroeconomic stability and attract investment, particularly in the capital-intensive sector.

The bill aligns with global best practices and aims to strengthen institutional coordination. House leader urged colleagues to support the bill, while Yusuf Gagdi linked it to Nigeria's historical economic progress under past administrations.

The bill is expected to return for a third and final reading before being transmitted to the Senate for concurrence.