The House of Representatives has passed for second reading a bill proposing a 50-year national economic plan designed to ensure policy stability and guide development across successive administrations.
Sponsored by Amobi Ogah, who represents Isuikwuato/Umunneochi Federal Constituency in Abia State, the legislation seeks to create a legally binding framework for long-term economic planning that would outlive political transitions and address persistent policy inconsistency.
Leading the debate, Ogah described the proposal as a bold step toward fixing one of Nigeria’s most enduring development challenges—short-term planning and frequent shifts in government priorities.
He said the bill aims to institutionalize continuity, coordination, and accountability in economic management, helping to reposition the country for sustainable growth and stronger global competitiveness.
According to him, the framework would also tackle issues such as abandoned projects, inefficient use of public resources, and vulnerability to external shocks, particularly fluctuations in global oil prices.
Ogah argued that a long-term plan would establish stable fiscal and monetary priorities, reduce uncertainty, boost investor confidence, and support sustained economic expansion.
He added that Nigeria’s history of inconsistent economic planning has weakened infrastructure development, slowed growth, and discouraged investment—gaps the proposed legislation seeks to close.
