The House of Representatives has passed for second reading a bill seeking to establish a 50-year national economic plan aimed at ensuring policy continuity and long-term development in Nigeria.
The proposal, debated during plenary presided over by Deputy Speaker Benjamin Kalu, was sponsored by lawmaker Amobi Ogah. He said the legislation would provide a legally binding framework to guide economic planning from 2026 to 2076, addressing longstanding challenges of policy inconsistency and short-term strategies.
Ogah noted that previous development initiatives, including Vision 2010, Vision 20:2020 and the Economic Recovery and Growth Plan, were often undermined by weak implementation and shifting government priorities. He said the new bill seeks to institutionalise coordination, accountability and sustained execution across administrations.
According to the sponsor, the framework is expected to promote macroeconomic stability, improve investor confidence and support long-term investments in key sectors such as infrastructure, manufacturing and energy. He added that it also aligns with global and regional practices, citing development strategies adopted by countries such as South Africa, Rwanda and Botswana, as well as the African Union’s Agenda 2063.
Contributing to the debate, House Leader Julius Ihonvbere said the bill would strengthen discipline in national planning, while Yusuf Gagdi highlighted the importance of consistent development policies.
The bill will proceed to a third reading before being transmitted to the Senate for consideration.
