…says cash transfer programme anchored on transparency and accountability.
ABUJA, NIGERIA – The iNews Times | The Federal Government has announced plans to expand its direct cash transfer programme to accommodate more poor and vulnerable Nigerians, as part of ongoing efforts to ease the hardship triggered by economic reforms.
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.
According to Edun, the initiative currently benefits over 15 million households across the country. He explained that while progress had been made in stabilising inflation and the exchange rate, much work remained to ensure that citizens tangibly feel the benefits of government 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 said.
The minister emphasised that the cash transfer programme is anchored on transparency and accountability, supported by a digital verification system designed to eliminate fraud and ensure targeted disbursement.
“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 further disclosed that the Federal Government plans to expand the programme to reach even more beneficiaries at the grassroots level, reinforcing the administration’s commitment to cushioning the impact of ongoing reforms.
In addition to the cash transfer initiative, Edun announced a new ward-based development scheme 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.
At the same event, Dr. Arunma Oteh, Founder of the Oxford Global Think Tank Leadership, called for increased investment in infrastructure and human capital, describing them as the twin engines of sustainable growth.
“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.
She also urged policymakers to prepare young Nigerians for leadership, stressing that long-term national development depends on consistent investments in people and infrastructure.
The expanded cash transfer programme and ward-level funding initiative, according to officials, are expected to serve as critical tools for reducing poverty, empowering small businesses, and ensuring that economic reforms deliver measurable benefits to households nationwide.
