Nine Million Nigerian Households Receive Cash Transfers

On Thursday, Wale Edun, the Federal Minister of Finance and Coordinating Minister of the Economy, disclosed that nine million of Nigeria's poorest households have received direct cash transfers as part of a reform backed by the World Bank's International Development Association (IDA). This announcement was made during a keynote address at the IDA20 retrospective launch hosted by the World Bank Group.

Edun noted that the reform aims to protect vulnerable populations, with nearly 12 million Nigerians enrolled in a digital ID system, of which about 60 percent are women. The initiative is part of a broader strategy to improve security and transparency while reducing leakage and enhancing trust.

The IDA20 replenishment aims to mobilize $97.4 billion in concessional financing to support the world's poorest and most vulnerable countries, including Nigeria, as it navigates poverty and economic challenges exacerbated by global issues such as climate change and supply chain disruptions.