The Federal Government has disclosed that no fewer than nine million vulnerable households across Nigeria have benefited from its direct cash transfer programme under ongoing social protection reforms.
Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, made this known while delivering a keynote address at the International Development Association (IDA20) retrospective launch organised by the World Bank Group.
According to a statement posted on X by the Ministry of Finance, the event, themed “Lessons from IDA20: Delivering Impact in Times of Crisis,” reviewed achievements recorded under the twentieth replenishment of the International Development Association, which mobilised about $97.4 billion in concessional financing to support the world’s poorest countries, including Nigeria.
Edun explained that the cash transfer initiative was strengthened through digital reforms aimed at improving transparency and accountability in social intervention programmes.
He revealed that over 12 million Nigerians have so far been enrolled through digital identity integration, noting that women constitute nearly 60 per cent of the beneficiaries.
He said: “Nine million poorest households have received direct cash transfers. When identification is secure and transparent, leakages decline, trust improves and opportunities expand.”
Reflecting on the economic challenges faced during the implementation period, the minister noted that the IDA20 programme was introduced at a time of global crisis marked by pandemic aftershocks, supply chain disruptions and rising food insecurity.
Despite the challenges, Edun said Nigeria opted for economic reforms rather than policy reversals, listing exchange rate unification, removal of petrol subsidy and the stoppage of deficit monetisation as key measures undertaken by the government.
He added that financial and technical support from the IDA development policy operations played a significant role in supporting Nigeria’s reform agenda.
The minister further described Nigeria’s relationship with the International Development Association as unique, noting that the country participates both as a beneficiary and a contributing donor.
According to him, the IDA20 framework demonstrated how coordinated concessional financing aligned with national priorities can enhance policy coherence, reduce fragmentation and promote responsible economic reforms.