Tinubu to Submit 2027 Budget Proposal Before Year-End

President Bola Tinubu is expected to present the 2027 Appropriation Bill to the National Assembly before the end of 2026. This announcement was made by Doris Uzoka-Anite, the Minister of State for Budget and Economic Planning, during a briefing on the outcomes of the Federal Executive Council meeting.

The proposal is currently being assembled and is anticipated to be presented before December 31. Additionally, Taiwo Oyedele, the Minister of Finance and Coordinating Minister of the Economy, clarified that the $21.7 billion borrowing proposal submitted to the National Assembly is intended for investment in assets over a multi-year plan rather than immediate spending.

Of this amount, $10.6 billion is earmarked for critical transport infrastructure, including the Sokoto–Badagry Highway and the Lagos–Calabar Coastal Highway. The government aims to secure favorable financing terms, with over $7.9 billion sourced from multilateral and bilateral partners, including $5 billion from the World Bank at an average interest rate of 2.1 percent.