To show to Nigerians and the world that its cash transfer policy to vulnerable citizens is not charade, the federal government has promised to release data of beneficiaries.
The Minister of Finance, Mr Wale Edun, speaking at the Oxford Global Think Tank Leadership Conference on Tuesday in Abuja, said the government has established a transparent, accountable, and robust system for providing direct payments to 15 million households across the country, noting that the process ensures transparency and accountability while enabling the government to monitor disbursements in real time.
“Each individual beneficiary is identified by name and their national identity number, and payments are made digitally—either directly to their bank accounts or mobile wallets,” he disclosed at the event.
He assured Nigerians that the federal government’s ongoing economic reforms were being implemented with a strong focus on easing the hardships faced by ordinary citizens, particularly the poor and vulnerable.
The Minister acknowledged the economic challenges confronting Nigerians, including rising food and transport costs, but emphasized that measures were already in place to cushion the effects of the reforms.
Responding to concerns that some communities had yet to benefit from the payments, Mr Edun said data would soon be released showing the names of beneficiaries who had received the first, second, and third tranches.
Beyond the cash transfers, he disclosed that the government was also implementing a ward-based development programme designed to take resources, information, and funding directly to the 8,809 wards in Nigeria’s 774 local government areas.
“The initiative will empower economically active people at the ward level—supporting small businesses, cottage industries, and local entrepreneurs to boost production and create sustainable livelihoods,” he stated, noting that the reforms aim not only to stabilize the economy but also to ensure that their benefits “reach right down to the lowest levels of society.”
He commended the organisers of the event for fostering dialogue on leadership and development, reiterating that the government’s goal was to build an inclusive economy where every Nigerian feels the positive impact of reforms.
The founder of Oxford Global Think Tank, Ms Arunma Oteh, called for urgent action to mobilize long-term capital, accelerate infrastructure development, and decentralize the management of Nigeria’s mineral resources to unlock sustainable growth.
Ms Oteh, who was one a Director General of the Securities and Exchange Commission (SEC) and Vice President at the World Bank, said Nigeria’s economic potential could only be realized if the country creates an environment that attracts “reasonably priced, long-term, patient capital” for both government and private sector development.
According to her, Nigeria’s infrastructure deficit remains a major barrier to growth. Citing data from China, she noted that the Asian country invested about 24 per cent of its GDP in infrastructure, compared to Nigeria’s 4–5 per cent. “If we want to bridge our infrastructure gap, we must increase that investment to at least 12 per cent of GDP,” she stated.