The Federal Government has announced plans to expand its direct cash transfer programme to reach more poor and vulnerable Nigerians. The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, disclosed this at the Oxford Global Think Tank Leadership Conference and Book Launch held in Abuja on Tuesday.
Edun explained that the initiative, which currently supports over 15 million households nationwide, is part of ongoing efforts to reduce poverty and cushion the effects of economic reforms. He said the government is committed to ensuring that Nigerians begin to feel the benefits of stabilising inflation and exchange rates.
“There is an attempt to ensure that the pains of reform are immediately alleviated. That’s why there is a transparent, accountable, and robust system of providing direct payments to 15 million households,” Edun stated.
The minister added that the programme is built on transparency and accountability through the use of a digital verification system. According to him, the system ensures that all beneficiaries are verified by name, national identity number, and digital payment records.
“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 individual is identified by name, national identity number, and paid digitally—either to a bank account or mobile wallet. There is accountability, transparency, and a record,” he explained.
Edun revealed that the Federal Government is working to expand the cash transfer programme further to reach more beneficiaries, especially at the grassroots level. This move, he said, aligns with the broader goal of reducing poverty and supporting economic recovery.
He also announced a new ward-based development initiative that will channel resources directly to Nigeria’s 8,809 wards across 774 local government areas. “This will empower economically active people at the ward level—small businesses and cottage industries—by providing support and financing. It’s a key element in ensuring that the benefits of current reforms and improvements reach right down to the local level,” he said.
Also speaking at the event, the Founder of the Oxford Global Think Tank Leadership, Dr. Arunma Oteh, called for more investment in infrastructure and human capital to sustain growth.
She noted that Nigeria needs “patient capital” to close its infrastructure gap and drive economic transformation. “China, over the years, invested 24 per cent of its GDP in infrastructure. At best, we do 4 to 5 per cent. If we want to bridge the infrastructure gap, we must raise this to at least 12 per cent,” Oteh said.
She further urged policymakers to invest in young Nigerians, stressing that long-term growth depends on continuous investment in people and infrastructure.