The Federal Government says it is set to expand its direct cash transfer programme to reach more poor and vulnerable Nigerians, as part of efforts to ease the economic hardship arising from ongoing reforms. The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, disclosed this during the Oxford Global Think Tank Leadership Conference and Book Launch held on Tuesday in Abuja.
Edun noted that although the initiative currently benefits over 15 million households across the country, the government is taking steps to ensure that even more Nigerians in need are captured going forward. He explained that while the administration has made progress stabilising inflation and the exchange rate, more targeted support is necessary to ensure citizens feel the positive effects of ongoing economic adjustments.
“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 said.
According to him, the government is committed to transparency in the implementation of the cash transfer programme, noting that beneficiaries are digitally verified to prevent fraud and diversion of funds. He stated that every individual in the programme is identified using their name and National Identification Number, with payments made directly either into a bank account or mobile wallet.
“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 stressed.
Edun further announced a new ward-based development initiative aimed at empowering small businesses and cottage industries at the grassroots level. The programme, he said, will channel resources directly to Nigeria’s 8,809 wards across 774 local government areas to stimulate local economic activity and job creation.
“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 added.
Also speaking at the event, Founder of the Oxford Global Think Tank Leadership, Dr. Arunma Oteh, called for increased investment in infrastructure and human capital to drive sustainable national growth. She stressed that Nigeria requires what she described as “patient capital” to close its infrastructure deficit and unlock long-term 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 stated.
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She also emphasized the need to equip young Nigerians for leadership roles, noting that consistent investment in education, skills and innovation remains the foundation for sustained development.
The government’s plan to expand the cash transfer programme comes amid rising living costs, high food prices, and calls for stronger safety nets to cushion citizens against economic pressures. While the Federal Government has maintained that ongoing reforms will yield long-term gains, the expansion is seen as part of efforts to ensure that vulnerable Nigerians receive immediate relief.
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