The Federal Government has announced plans to expand its direct cash transfer programme in a bid to reach more poor and vulnerable Nigerians across the country.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, disclosed the plan during an economic policy session in Abuja, noting that the initiative currently supports over 15 million households nationwide.
According to Edun, the programme was designed to ease the impact of ongoing economic reforms and ensure that the most vulnerable citizens receive immediate relief. He emphasized that the system is built on transparency and accountability, with every beneficiary verifiable through digital records.
“There is an attempt to ensure that the pains of reform are immediately alleviated,” Edun explained. “That’s why there is a transparent, accountable, and robust system of providing direct payments to 15 million households.”
He noted that each beneficiary is identified by name and National Identification Number and receives funds digitally—either through a bank account or mobile wallet—ensuring that payments are traceable and credible.
“In some places, people say they haven’t heard of anyone receiving the payments. We immediately call for the data to verify this because each record is captured digitally. There is accountability and a full audit trail,” he added.
The minister said the Federal Government intends to extend the cash transfer programme to more communities as part of its broader poverty-reduction agenda, particularly targeting citizens in rural and underserved areas.
Edun also announced the introduction of a new ward-based development initiative, designed to channel resources directly to Nigeria’s 8,809 wards across the 774 local government areas.
According to him, the initiative will empower small businesses, artisans, and cottage industries at the grassroots level through targeted financial support.
“This will empower economically active people at the ward level by providing access to financing and support for small enterprises,” Edun said. “It’s a key element to ensure that the benefits of the government’s reforms reach right down to the local level.”
Also speaking at the conference, Dr. Arunma Oteh, Founder of the Oxford Global Think Tank Leadership Initiative, stressed the need for patient capital to drive sustainable growth and close Nigeria’s widening infrastructure gap.
Oteh noted that the country must significantly raise its infrastructure spending from the current 4 to 5 percent of GDP to at least 12 percent if it aims to accelerate development and improve competitiveness.
“China invested about 24 percent of its GDP in infrastructure for years. If Nigeria wants to close its infrastructure deficit, we must raise our investment level to at least 12 percent,” she said.
She further emphasized that sustained investment in human capital development and youth leadership would be crucial for achieving inclusive and long-term economic transformation.
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