The Federal Government has disclosed that 9 million of Nigeria’s poorest households received direct cash transfers under reforms backed by the World Bank’s International Development Association (IDA).
This was made known in a statement issued on Thursday by the Federal Ministry of Finance and obtained by Nigeria Startup News. According to the ministry, the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, revealed this while delivering a keynote address at the IDA20 Retrospective Launch hosted by the World Bank Group on Wednesday.
Edun stressed that “Reform must protect the vulnerable.”
He explained that through digital ID integration, “Over 12 million Nigerians enrolled,” with “Nearly 60 per cent women,” while “9 million poorest households received direct cash transfers.”
The minister noted that strengthening identification systems played a key role in the process. According to him, when identification is secure and transparent, “Leakages decline. Trust improves. Opportunity expands.”
The ministry stated that IDA20, the World Bank Group’s 20th replenishment of the International Development Association, mobilised $97.4bn in concessional financing to support the world’s poorest and most vulnerable countries, including Nigeria. The funding was aimed at helping countries manage poverty, fragility, climate change and global economic shocks.
Reflecting on the time IDA20 was launched, Edun said, “When IDA20 was launched, the world was in crisis.” He cited “Pandemic aftershocks. Supply chain disruptions. Rising food insecurity” as major global challenges at the time.
The statement added that Nigeria faced mounting pressure “but chose reform over retreat,” highlighting “Exchange rate unification. Fuel subsidy removal. Ending deficit monetisation.”
Edun said IDA’s Development Policy Operation “provided timely support when it mattered most.”
Describing the country’s relationship with the lender, he said, “Nigeria’s partnership with IDA is unique.”
“We are both: A Recipient; A Contributing Donor,” he added.
He further stated that IDA20 “demonstrated that pooled, concessional finance aligned to country priorities delivers better results,” stressing that “It reduced fragmentation. It strengthened coherence. It supported responsible reform.”
