Economic Stimulus Bill

A Bill authorizes and structures a targeted economic stimulus package for Nigeria. It provides legal backing for government spending, tax incentives, and monetary interventions across key sectors. These measures aim to accelerate economic recovery, support SMEs, and create jobs.

Economic Stimulus Bill Policy Overview

What Is This Policy?

A bill to authorise and structure a targeted economic stimulus package for Nigeria, providing legal backing for government spending, tax incentives, and monetary interventions designed to accelerate economic recovery and growth.

Who Does It Target?

SMEs and large enterprises across key economic sectors Unemployed and underemployed Nigerians Federal Ministry of Finance, Budget, and CBN Vulnerable households eligible for social protection components

What Does It Aim to Achieve?

Stimulate GDP growth by at least 2 percentage points above baseline within 24 months Create 500,000 direct and indirect jobs through targeted sector investments Support SME survival and growth through low-interest credit and tax relief Protect vulnerable households from economic shocks through direct support mechanisms

Key Features

Current Status

Funding: Combination of domestic borrowing, external development finance, and reprioritised federal budget

How to Access

SMEs apply for credit through BOI and participating commercial banks; household support delivered through existing social registers. Requirements: SMEs: CAC registration, BVN, and minimum 12 months operating history Household transfers: registration on National Social Register Tax incentives: application through FIRS with qualifying investment documentation Application method: BOI: www.boi.ng | FIRS: www.firs.gov.ng | Social support: through state NSIO offices

Important Terms

Stimulus credit facilities carry concessional rates (single digit) with 3-year moratorium Tax incentives are time-limited and subject to minimum investment thresholds Stimulus spending subject to enhanced transparency and NFIU monitoring

Impact & Metrics

Nigeria's GDP growth slowed to 3.4% in 2024; the stimulus targets acceleration to 5.5%+ by 2026 with measurable job creation benchmarks.

Official Resources

Website: www.finance.gov.ng | www.boi.ng Contact: Federal Ministry of Finance — [email protected] | BOI — [email protected] Federal Republic of Nigeria — Policy Summary Document | March 2026

Legal Framework

Constitution of the Federal Republic of Nigeria 1999 (Sections 80-88 on federal finance); Fiscal Responsibility Act 2007; Finance (Control and Management) Act; Central Bank of Nigeria Act; Appropriation Act