The federal government has disclosed that about nine million poorest households across Nigeria benefited from direct cash transfers.
The intervention was implemented under economic reform programmes supported by the World Bank’s International Development Association (IDA).
In a statement on Thursday, Wale Edun, the minister of finance and coordinating minister of the economy said the intervention was designed to cushion the impact of economic reforms on vulnerable Nigerians.
He stressed that reform must protect the vulnerable.
According to him, the programme was strengthened through digital identity integration, with over 12 million Nigerians enrolled, nearly 60 per cent of whom are women.
Edun said improved identification systems have enhanced transparency and accountability in the distribution process.
He said, “When identification is secure and transparent, leakages decline. Trust improves. Opportunity expands.”
He explained that the IDA20 programme mobilised about $97.4bn in concessional financing to support poor and vulnerable countries, including Nigeria, amid global economic challenges such as pandemic aftershocks, supply chain disruptions and rising food insecurity.
Edun noted that Nigeria responded to the global crisis by implementing key economic reforms, including exchange rate unification, fuel subsidy removal and the end of deficit monetisation.
He also described Nigeria’s relationship with the World Bank’s concessional lending arm as unique.
