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By Gloria Ikibah

The National Assembly has set in motion a major push to reform the Nigeria’s planning and budgeting system, signalling a renewed effort to tackle inefficiencies that have long slowed economic progress.

The initiative will take shape through a high-level national policy dialogue aimed at aligning development plans with actual budget implementation—an area widely seen as a weak link in Nigeria’s growth framework.

Chairman House Committee on National Planning and Economic Development, Rep. Gboyega Isiaka, disclosed during a briefing at the National Assembly Complex on Monday in Abuja.

Speaking for a joint committee of both legislative chambers, he outlined the scope of the engagement and its expected impact.

The two-day dialogue is scheduled for 14 and 15 April 2026 at the Bola Ahmed Tinubu International Conference Centre, where policymakers, private sector leaders and development experts are expected to converge.

At the heart of the discussions is the need to close the persistent gap between policy formulation and execution—an issue that has repeatedly undermined national development efforts.

The dialogue is being organised in collaboration with key government institutions, including the Office of the Vice President, Ministry of Finance, Ministry of National Planning and Budget Office of the Federation, all of which play central roles in shaping the country’s fiscal direction.

Lawmakers believe that bringing these actors together will help create a more coherent and disciplined approach to economic planning, particularly as Nigeria pursues the ambitious target of becoming a $1 trillion economy.

Despite recent gains, concerns remain over the pace of growth. Current figures hover around 3.54 per cent, a rate considered too modest to deliver transformative change, especially when set against a population growth rate of about 2.7 per cent.

The proposed reforms are therefore seen as a critical step towards accelerating growth, improving fiscal coordination and ensuring that national ambitions translate into tangible outcomes for citizens.

He said: “We cannot continue on a business-as-usual trajectory. Our growth must not only accelerate but must also be deliberately tied to a well-structured and implementable national plan”.

Reflecting on Nigeria’s history of development planning—from pre-independence strategies to Vision 2020 and the Economic Recovery and Growth Plan—he observed that while some frameworks recorded partial successes, many fell short due to structural weaknesses, macroeconomic volatility, and external shocks such as fluctuating oil prices.

Rep. Isiaka further that the forum will also serve as a platform for robust engagement among policymakers, legislators, heads of Ministries, Departments and Agencies (MDAs), and experts in finance, procurement, and economic planning, with the aim of producing actionable outcomes.

“The lessons are clear. Plans alone are not enough; execution, consistency, and adaptability are critical. This dialogue is about getting it right going forward.

“We are bringing everyone to the table to build consensus around a planning and budgeting system that delivers real, measurable results for Nigerians,” he added.

The Deputy Chairman House Committee on Budget and National Planning, Rep. Clement Jimbo, underscored the centrality of strategic planning to national development, as he cautioned that weak planning frameworks can continue to undermine economic progress.

He stressed that even marginal improvements from the dialogue can have far-reaching impacts on Nigeria’s development trajectory.

“If you fail to plan, you are invariably planning to fail,” Jimbo said, as he pointed to global examples such as Singapore’s transformation through disciplined and forward-looking policies.

“Even if we achieve just one percent improvement from the ideas generated here, it will significantly enhance our planning process and outcomes,” he stated.

On Nigeria’s current budgeting model, particularly the envelope system, Rep. Jimbo acknowledged existing concerns but maintained that every system comes with inherent limitations.

He explained that while alternatives such as zero-based budgeting offer advantages, they may be difficult to implement fully given the scale of government operations.

“With over a thousand MDAs, adopting zero-based budgeting wholesale could be time-intensive and impractical. What we need is a system that reflects our realities while improving efficiency and accountability,” he said.

He added that the dialogue will explore a range of options, including performance-based budgeting, with breakout sessions designed to enable MDAs to share experiences and propose reforms tailored to Nigeria’s context.

Fielding questions from journalists on managing potential oil windfalls, Rep. Jimbo said while the responsibility lies primarily with the executive, there are viable strategies to ensure fiscal stability, including saving excess revenues and adjusting budgets to reflect changing economic conditions.

“There are multiple pathways to managing windfalls effectively, and I am confident that with the right framework, Nigeria can better optimise such opportunities,” he said.

The lawmakers expressed optimism that the forthcoming dialogue will be a turning point in Nigeria’s approach to development planning—laying the foundation for a more responsive, coordinated, and results-driven budgeting system capable of delivering sustained economic growth.