The Federal Government says it plans to expand its direct cash transfer programme to reach more poor and vulnerable Nigerians as part of efforts to cushion the impact of ongoing economic reforms.
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, disclosed this on Tuesday while speaking at the Oxford Global Think Tank Leadership Conference and Book Launch held in Abuja.
Edun said the initiative currently supports over 15 million households across the country through transparent and accountable digital payments, but more Nigerians are set to benefit as the government scales up its social intervention programmes.
“There is an attempt to ensure that the pains of reform are immediately alleviated,” Edun said. “That’s why there is a transparent, accountable, and robust system of providing direct payments to 15 million households.”
According to the minister, the cash transfer programme is part of a broader strategy to reduce poverty and ensure that citizens experience the positive results of economic reforms introduced by the Tinubu administration.
He explained that every beneficiary is properly identified through a digital verification system that links payments to the National Identification Number (NIN) and personal details.
“In some places, people say they haven’t heard of anyone receiving the payments,” he said. “We immediately call for the data to verify this because each individual is identified by name, national identity number, and paid digitally—either to a bank account or a mobile wallet. There is accountability, transparency, and a record.”
Edun highlighted that the system was designed to prevent fraud and ensure funds reach genuine beneficiaries.
The minister also announced a new ward-based development initiative to channel resources directly to Nigeria’s 8,809 wards across the country’s 774 local government areas.
He said the project aims to empower small-scale entrepreneurs, artisans, and cottage industries at the grassroots level by giving them financial and technical support.
“This will empower economically active people at the ward level—small businesses and cottage industries—by providing support and financing,” Edun explained. “It’s a key element in ensuring that the benefits of current reforms reach right down to the local level.”
The initiative, according to him, will complement the existing cash transfer programme and help create jobs while boosting local production.
Edun also noted that while progress has been made in stabilising inflation and the exchange rate, the government recognises that more needs to be done to make the reforms felt by ordinary Nigerians.
“We are working to stabilise the economy while protecting the most vulnerable,” he said. “Our goal is to ensure that reform outcomes are fair, inclusive, and sustainable.”
Also speaking at the event, Dr. Arunma Oteh, Founder of the Oxford Global Think Tank Leadership, called for increased investments in infrastructure and human capital as key drivers of sustainable development.
Oteh, a former Vice President of the World Bank and ex-Director-General of the Securities and Exchange Commission (SEC), said Nigeria must prioritise “patient capital” — long-term funding dedicated to infrastructure growth and innovation.
“China, over the years, invested 24 per cent of its GDP in infrastructure. At best, we do 4 to 5 per cent,” she said. “If we want to bridge the infrastructure gap, we must raise this to at least 12 per cent.”
She warned that without significant investment in power, transportation, and education, Nigeria’s economic transformation goals would remain out of reach.
Oteh also stressed the importance of grooming young Nigerians for leadership roles to ensure continuity in governance and development.
“We must equip our young people for leadership. Long-term growth depends on consistent investment in people and infrastructure,” she added.
Nigeria’s cash transfer programme was first introduced under the National Social Investment Programme (NSIP) to support low-income households and reduce poverty. The initiative provides regular stipends to vulnerable families, often linked to their participation in small-scale enterprises, education, or health programmes.
Since President Bola Ahmed Tinubu removed fuel subsidy in May 2023, the cost of living has risen sharply, prompting the government to strengthen social safety nets like cash transfers, food support, and small business grants.
As the Federal Government expands its reach to millions more Nigerians, Edun assured that transparency and accountability will remain central to implementation.
“We are building a system that Nigerians can trust,” he said. “Every naira must go to the right place, and every citizen must feel the impact of our reforms.”
