The Federal Government has disclosed plans to expand its direct cash transfer programme to reach more beneficiaries at the grassroots level in a broader effort to cushion the impact of economic reforms in the country.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, made this known on Tuesday at the Oxford Global Think Tank Leadership Conference and Book Launch in Abuja.
While announcing plans to scale up the cash transfer programme to include more poor and vulnerable Nigerians, Edun revealed that the initiative currently benefits over 15 million households across the country.
The Minister noted that while progress had been made in stabilising inflation and the exchange rate, more needed to be done to lift Nigerians out of poverty and ensure citizens feel the positive effects of ongoing economic reforms.
“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.
He emphasised that the programme is being implemented with transparency and accountability, supported by a digital verification system.
“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.
He revealed that the Federal Government plans to expand the programme to reach even more beneficiaries at the grassroots level, as part of broader efforts to cushion the impact of economic reforms.
Edun also announced a new ward-based development initiative aimed at channelling 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.
Founder of the Oxford Global Think Tank Leadership, Dr. Arunma Oteh, in a remark at the event, called for increased investment in infrastructure and human capital to drive sustainable growth.
She stressed that Nigeria needs “patient capital” to bridge its infrastructure gap and spur 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 called on policymakers to equip young Nigerians for leadership, noting that long-term development would depend on consistent investments in people and infrastructure.
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