FG to Expand Cash Transfer Scheme for More Poor Nigerians

The Federal Government intends to expand its direct cash transfer program to encompass a larger number of impoverished and at-risk Nigerians.

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, announced the development while speaking at the Oxford Global Think Tank Leadership Conference and Book Launch in Abuja on Tuesday.

He explained 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.

Edun 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.

He 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.