The federal government has announced that President Bola Tinubu will present the 2027 Appropriation Bill to the National Assembly before the end of 2026. This disclosure was made by Minister of State for Budget and Economic Planning, Doris Anite-Uzoka, after the Federal Executive Council meeting on Wednesday. The meeting, presided over by Tinubu, took place at the Council Chamber of the State House in Abuja. Anite-Uzoka provided the update in response to a question about the timeline for presenting the proposed 2027 budget.
According to Anite-Uzoka, the Federal Government has already started working on the budget and plans to submit it to lawmakers before the end of the year. The budget preparation process began several weeks prior to the disclosure, with the Budget Office of the Federation issuing guidelines for government agencies to submit their personnel cost proposals for the coming fiscal year. This move is part of the government's efforts to ensure a smooth and timely budget preparation process.
The Budget Office of the Federation issued a Personnel Costs Budget Call Circular on September 4, directing all ministries, departments, and agencies to submit their proposed personnel expenditure for 2027. The circular introduced a new requirement for agencies to attach their establishment Acts to their personnel cost proposals. This measure aims to address concerns over fictitious government agencies and improve the management of public funds.
The new requirement also stipulates that agencies failing to meet the conditions will face restrictions on including personnel costs in the 2027 budget. Additionally, agencies not captured on the Integrated Payroll and Personnel Information System or the Government Integrated Financial Management Information System will not receive personnel cost provisions in the proposed budget. This move is part of the government's efforts to strengthen budget preparation and improve payroll accountability.
On Tuesday, Tinubu requested the National Assembly's approval for a fresh external borrowing plan worth $20.52 billion and €1.04 billion. The funds will be used to finance projects and programmes across different sectors of the economy. The request was conveyed to lawmakers in a letter read by Senate President Godswill Akpabio during plenary. The proposal requires legislative consideration before any approval can be granted.
The Federal Government has maintained that borrowing is part of its financing strategy for implementing projects and meeting financial obligations. The government has emphasized its commitment to ensuring that public funds are allocated to recognised government institutions. The 2027 budget presentation is expected to provide further clarity on the government's plans and priorities for the coming fiscal year.
The presentation of the 2027 budget will be a significant event, as it will outline the government's spending plans and priorities for the next year. The National Assembly will play a crucial role in scrutinizing the budget and ensuring that it aligns with the country's economic goals. The government's efforts to strengthen budget preparation and improve accountability are expected to have a positive impact on the country's economic development.
Key points
- President Bola Tinubu to present 2027 budget before end 2026
- Government introduces new requirements for personnel cost proposals
- Tinubu requests $20.52 billion and €1.04 billion external borrowing plan approval
