FG Prepares 2027 Budget, Targets Single-Digit Inflation

The Federal Government is actively working on the 2027 budget, aiming to present it to the National Assembly before the end of 2026. This initiative includes a proposed $21.7 billion external borrowing program to support infrastructure and other development projects.

Finance Minister Taiwo Oyedele has stated that the $21.7 billion external financing plan is intended to fund critical infrastructure and development initiatives. The government remains committed to achieving single-digit inflation by the end of 2027.

Recent data shows headline inflation fell to 14.63% in September, indicating progress toward the government's inflation control goals. The 2027 budget presentation is expected to outline strategies for maintaining this trajectory.