Finance Minister Wale Edun says the Federal Government will expand its cash transfer scheme beyond 15 million households to ease reform pains.
Federal Government cash transfer expansion — 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 cushion the impact of ongoing economic reforms.
Also read: Peter Obi defends Nigerians, slams elitist insults
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, made the announcement on Tuesday while speaking at the Oxford Global Think Tank Leadership Conference and Book Launch in Abuja.
Edun said the initiative, which currently benefits over 15 million households, remains one of the key measures designed to support citizens and ensure that the effects of reform are mitigated at the grassroots level.
“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,” he stated.
The minister explained that the programme operates under a digitally verified system, which ensures transparency and prevents fraud.
“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,” Edun said.
He added that plans were underway to expand the programme to include more beneficiaries, particularly at the ward level, in line with President Bola Tinubu’s Renewed Hope Agenda.
According to Edun, a new ward-based development initiative will soon be launched to channel resources directly to Nigeria’s 8,809 wards across 774 local government areas, supporting small businesses and local enterprises.
“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 explained.
Also speaking at the event, Dr Arunma Oteh, Founder of the Oxford Global Think Tank Leadership, urged Nigeria to increase investment in infrastructure and human capital as the foundation for sustainable economic 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,” she said.
Also read: Tacha delivers Powerful Accountability Message to Nigerians
Dr Oteh also called for greater focus on youth leadership and capacity building, stressing that long-term progress depends on consistent investment in people and infrastructure.
