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Nigeria approves 2026-2030 development plan

By , based on Ghanaian Chronicle

Nigeria approves 2026-2030 development planIllustrative image · alameen .ng · Pexels · Licence Pexels

Nigeria’s Federal Executive Council has approved the National Development Plan 2026-2030 and a revised food and nutrition policy. State Minister for Budget Doris Uzoka-Anite also said President Bola Tinubu would present the 2027 budget before the end of 2026, according to the Ghanaian Chronicle.

Nigeria’s Federal Executive Council has approved the National Development Plan 2026-2030, State Minister for Budget and Economic Planning Doris Uzoka-Anite announced on Wednesday. The government has also approved a revised national food and nutrition policy framework for 2026, aimed at strengthening sustainable financing and coordination across several sectors, the minister said, according to Channels Television.

Doris Uzoka-Anite made the announcements after a Federal Executive Council meeting chaired by President Bola Tinubu. She also said the 2027 federal budget proposal would be presented to Parliament before the end of 2026, a deadline already announced by Bola Tinubu.

Finance Minister and Economy Coordinator Taiwo Oyedele said the proposed $21.7 billion in borrowing submitted to Parliament was intended to finance investments over about five years, not to be disbursed immediately. He said $10.6 billion would go towards transport infrastructure, including the Sokoto-Badagry and Lagos-Calabar highways and the Kano-Kaduna metro.

More than $7.9 billion would come from multilateral and bilateral partners, including $5 billion from the World Bank, at an average interest rate of about 2.1%. The programme would also allocate $3.3 billion to state projects and $1.45 billion to the Federal Capital Territory, Abuja, according to Taiwo Oyedele. These figures form part of the debate on Nigeria’s foreign borrowing.

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