Millions of Nigerians Receive Cash Transfers from FG, Wale Edun Discloses Exact Figure
- Minister of Finance, Wale Edun, said nine million of Nigeria’s poorest households have received direct cash transfers
- Over 12 million Nigerians have been enrolled through digital ID integration, with women forming nearly 60 per cent
- Edun cited exchange rate unification, petrol subsidy removal and the end of deficit monetisation as key reforms
Oluwatobi Odeyinka is a business editor at Legit.ng, covering energy, the money market, technology and macroeconomic trends in Nigeria.
Nigeria’s minister of finance and coordinating minister of the economy, Wale Edun, says nine million of the country’s poorest households have benefited from direct cash transfers under ongoing social protection reforms.
According to a statement shared by the Ministry of Finance on its official X account , Edun disclosed this on Thursday, February 26, 2026, while delivering a keynote address at the IDA20 retrospective launch hosted by the World Bank Group.
Source: UGC
The event, themed “Lessons from IDA20: Delivering Impact in Times of Crisis”, reviewed the outcomes of the twentieth replenishment of the International Development Association (IDA20), which mobilised $97.4 billion in concessional financing for low-income and vulnerable countries, including Nigeria.
9 million households receive transfers
Speaking on Nigeria’s social protection and digital reform efforts, Edun said over 12 million Nigerians have been enrolled through digital ID integration, with women making up nearly 60 percent of beneficiaries.
He stated that nine million of the poorest households have received direct cash transfers as part of the programme.
According to the minister, strengthening identification systems has improved transparency and reduced leakages in the distribution process.
“When identification is secure and transparent, leakages decline, trust improves, and opportunity expands,” Edun said.
Reforms during global crisis
Reflecting on the period when IDA20 was introduced, Edun said the initiative came at a time of global uncertainty marked by the aftereffects of the COVID-19 pandemic, supply chain disruptions and rising food insecurity.
He noted that Nigeria faced economic pressures during the period but opted to implement structural reforms.
Among the measures listed were the unification of exchange rates, the removal of petrol subsidy, and the end of deficit monetisation. Edun added that IDA’s development policy operations provided financial and technical backing to support these reforms.
Source: Twitter
Nigeria’s dual role in IDA
The minister described Nigeria’s relationship with IDA as distinctive, noting that the country participates both as a beneficiary and as a contributing donor.
He said IDA20 highlighted the importance of pooled concessional financing aligned with national priorities, adding that such coordination can reduce fragmentation, improve policy coherence and strengthen reform efforts.
FG invites Nigerians to apply for zero-interest loans
Legit.ng earlier reported that the federal government announced plans to empower market women, small-scale traders, and artisans with access to zero-interest loans of up to N100,000.
The empowerment will be done through its upcoming programmes, MarketMoni and TraderMoni, targeting women, micro-entrepreneurs, artisans, and cooperatives nationwide.
MarketMoni will provide market women with interest-free loans to grow working capital, restock inventory, and expand their businesses.
Source: Legit.ng
