FG Expands N75,000 Cash Transfer to Reach Millions More Nigerians amid Rising Hardship
- The Nigerian government has to expand the scope of the cash transfer initiative to include more vulnerable households
- The Minister of Finance of Finance, Wale Edun, said the initiative aims to ease the pains of reforms by the government
- Edun also announced another ward-based empowerment scheme to reach Nigerians across the 774 local governments
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
The Nigerian government has announced plans to expand its direct cash transfer initiative to reach more poor and vulnerable Nigerians struggling under the impact of ongoing economic reforms.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, disclosed this at the Oxford Global Think Tank Leadership Conference and Book Launch in Abuja on Tuesday, October 28, 2025. He revealed that about 15 million households currently benefit from the scheme.
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Cash transfer scheme to accommodate more Nigerians
According to Edun, while progress has been made in reducing inflation and stabilising the exchange rate, more efforts are needed to lift citizens out of poverty and ensure they experience the positive effects of the government’s reforms.
According to a Punch report, the minister said the initiative aims to ease the pain of economic adjustment, describing it as a transparent, accountable, and data-driven system that delivers direct digital payments to beneficiaries.
“Each individual is identified by name and national identity number and paid digitally—either to a bank account or mobile wallet.
There is accountability, transparency, and a record,” Edun stated.
He added that the government plans to expand the scheme to reach more grassroots beneficiaries as part of a broader effort to cushion the impact of reforms on low-income Nigerians.
FG launches ward-based development programme
Edun also announced a new ward-based development scheme to channel resources directly to Nigeria’s 8,809 wards across 774 local government areas.
He said the initiative will economically empower Nigerians at the community level by providing support and financing to small businesses and cottage industries.
According to him, the programme is designed to ensure that the benefits of the government’s reforms reach citizens at the grassroots.
Call for investment in human capital and infrastructure
Former director-general of the Securities and Exchange Commission (SEC), Arunma Oteh, also spoke at the event, urging increased investment in human capital and infrastructure to drive sustainable growth.
Oteh noted that Nigeria must attract patient capital to bridge its infrastructure gap, pointing out that while China invests about 24% of its GDP in infrastructure, Nigeria currently spends only 4–5%.
“If we want to bridge the infrastructure gap, we must raise this to at least 12%,” she said, adding that policy drivers must equip young Nigerians for leadership through long-term investments in people and infrastructure.
FG reopens YEIDEP portal for youth empowerment
In a related development, the federal government has reopened the application portal for the 2025 Youth Economic Intervention and De-Radicalization Programme (YEIDEP) after several postponements.
Source: Twitter
The initiative aims to empower young Nigerians through entrepreneurship training and business funding, offering grants of ₦50,000 to ₦500,000 for startups and small enterprises in selected sectors.
Experts believe that with consistent investment in people and targeted social programmes, millions of Nigerians could soon find a path out of poverty.
Group launches ₦100,000 grant for petty traders
Legit.ng earlier reported that thousands of small-scale traders across Nigeria are set to benefit from the Petty Traders Grant Support Programme, a new financial empowerment scheme designed to uplift street vendors, market sellers, and micro-entrepreneurs struggling to access capital.
The initiative, which offers ₦10,000 to ₦100,000 in free grants, targets individuals whose livelihoods depend on petty trading, from food vendors and kiosk owners to shoe repairers, tailors, and recharge card sellers.
At the heart of the programme is a simple goal: to help Nigerians grow self-sustaining businesses without the usual hurdles of collateral, company registration, or complex paperwork.
Proofreading by Kola Muhammed, copy editor at Legit.ng.
Source: Legit.ng
