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NASS Targets Budget Overhaul as Nigeria Eyes $1 Trillion Economy
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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.
News
Wike Hails Quality of Abuja Road Projects
Minister of the Federal Capital Territory (FCT), Barr. Nyesom Wike, has expressed satisfaction with the pace and quality of ongoing road projects across Abuja, saying residents can now “see governance in action.”
Wike spoke on Wednesday while inspecting ongoing infrastructure projects in Karu, Apo-Karshi and Gbazango, popularly known as Arab Road in Kubwa.
The minister commended contractors handling the various projects, particularly local construction firm Abdul Val and Zeberced, for delivering quality work within schedule.
“With what we have seen today, right from the roads in Karu down to Apo-Karshi and now to Gbazango, which is popularly called Arab Road in Kubwa, we are very satisfied with the level of work that has taken place,” Wike said.
He praised Abdul Val for the quality of work on the Karu road project, noting that the company had earlier delivered the Ushafa road project commissioned last year by President Bola Ahmed Tinubu through Vice President Kashim Shettima.
“I’m quite impressed. This is the second time. If you remember, the Ushafa road commissioned last year was also carried out by Abdul Val, and they are doing the one in Karu now. They are doing a good quality job,” he stated.
According to him, the Karu road project will be among projects slated for inauguration during President Tinubu’s third anniversary in office.
Speaking on the Apo-Karshi road being handled by SCC, Wike described it as a critical project frequently demanded by residents, expressing optimism that it would be completed before the end of the year.
He also commended Zeberced for the ongoing Gbazango road project, which he said would also be inaugurated during the President’s third anniversary celebrations.
“If you remember, this company handled the A2 to Pai road commissioned by Mr. President last year. They are also handling the Goma to Yangoji road, which will also be inaugurated during the third anniversary,” he said.
“You can see the quality of work. You can see how happy the residents are seeing us here. Without invitation, they came out to appreciate the fact that they can now see governance in action.”
Wike stressed that beyond quality delivery, meeting project timelines remained equally important.
“One thing is doing a quality job, another thing is keeping to timeline. I’m very happy. I think the President’s third anniversary will be full of activities,” he added.
News
“I don’t play politics of enmity” — Wike defends Visit to APC Chair Yilwatda(Photos)
The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has dismissed insinuations following his recent visit to the National Chairman of the All Progressives Congress (APC), Professor Nentawe Yilwatda, stating that he does not practice “politics of enmity”.

Speaking with newsmen during a project inspection on Wednesday, Wike clarified that his interaction with the APC chairman was a matter of personal association and professional courtesy rather than a formal political meeting.
The Minister had inspected the ongoing construction of roads in Karu, Apo-Karshi and Kubwa, to ensure completion as scheduled.
Responding to questions regarding the lack of a formal briefing after the visit, the Minister maintained that he is under no obligation to disclose details of his private life or social interactions.
Wike argued that every individual has the freedom to associate with others regardless of political affiliations.
He maintained that the visit was private, questioning why such a personal act should be announced to the “whole world”.
He rejected the idea that members of different political parties, such as the APC and PDP, should avoid each other.
Wike reminded reporters of his long-standing relationship with Yilwatda, noting that both had served as colleagues when was a minister.

”We’re all colleagues before he left for the chairmanship of APC. So what I should do anytime I see him is to hide? Anytime he sees me, he should run away so people will not say something?”
He explained that the visit was a reciprocal gesture after Yilwatda had made several unsuccessful attempts to see him at his office.
Wike noted that as a busy minister, he often receives many visitors, and since the APC Chairman could not secure an appointment at the office, he opted to visit the APC chairman at his residence to hear what he had to say.
The Minister emphasized that his primary concern remained the fulfillment of his duties and the satisfaction of his “appointor”.
He stated that he remained indifferent to public perception or “what somebody on the road is thinking” as long as he is carrying out his assigned tasks dutifully.
”What’s important to me is what I’m doing for my people,” Wike concluded, asserting that the results of his work hold more weight than political speculation.
News
Comedian AY narrates how Ekubo was all smiles in his dying moments
Comedian, AYo Makun, professionally known as AY, has spoken about the late Nollywood actor, Alex Ekubo’s final moments.
Recall that Alex Ekubo died in Lagos hospital on Monday, May 11 2026, after a long battle with cancer.
Alex, who was diagnosed with stage four liver cancer in 2024, underwent a transplant.
In 2026, the liver failed again, and he died from complications hours after being placed on life support.
Speaking about Alex’s final moments in an Instagram post, Comedian AY, who was present at the hospital, revealed that Alex was smiling when he breathed his last breath.
“Some losses do not feel real no matter how many times you try to process them. Still struggling with the reality that you are gone, Alex.
From the laughter to the conversations, the random moments, the brotherhood, and all the memories we shared in this industry. This one hurts deeply.
“I was there. I saw you still smiling even in death. I saw the tears from friends and family. And honestly, a part of me is still in shock. Rest well my brother. You will be remembered beyond the lights, the cameras, and the fame”, AY wrote.
Also, Alex Ekubo’s friend, Godwin Nnadiekwe, revealed that Alex prepared his will before his death.
Godwin wrote on his Instagram story “Alex Ekubo. To think you already prepared your will, It’s a heartbreak I can’t quite describe. Rest well, my friend.”
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