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.

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.

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.

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.