“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.”
By Olawale Lamina
The Federal Government has unveiled plans to increase its direct cash transfer programme to capture more poor and vulnerable Nigerians
This was disclosed by the Minister of Finance and Coordinating Minister of the Economy, Mr.Wale Edun, who spoke at the Oxford Global Think Tank Leadership Conference and Book Launch in Abuja on Tuesday.
The minister informed that the programme, at the moment benefits over 15 million households across the country.
Edun said that while some headway 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 initiatives of the federal government.
He stated that, “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 noted that the direct cash transfer programme is being implemented with transparency and accountability, backed by a digital verification system.
He added that, “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 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.
Also speaking at the event, Founder of the Oxford Global Think Tank Leadership, Dr. Arunma Oteh, made case for increased investment in infrastructure and human capital to drive sustainable growth.
She noted 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 emphasized.”
Oteh also called on policymakers to empower the youths for leadership, arguing that long-term development could be measured by consistently investing in people and infrastructure.
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