The Nigerian government has reported that direct cash transfers have reached nine million of the poorest households as part of ongoing social reform efforts supported by the World Bank’s International Development Association (IDA). During a keynote address at the IDA20 Retrospective Launch, Finance Minister Wale Edun emphasized the importance of these reforms in protecting vulnerable populations. The cash transfer program aims to provide financial assistance to households in order to alleviate poverty and improve living standards.

Edun highlighted the integration of digital identification systems in facilitating these transfers, noting that over 12 million Nigerians have enrolled, with nearly 60% of them being women. This digital approach not only simplifies the identification process but also enhances transparency and reduces corrupt practices, thereby building trust within the community. The minister stressed that when identification systems are secure, it leads to decreased leakages in funds and expanded opportunities for disadvantaged individuals.

The initiatives under the IDA20 are crucial as they contribute to the strengthening of social safety nets in Nigeria. The focus on digital ID systems alongside cash transfers forms part of a broader strategy to ensure that financial assistance reaches those who need it most effectively. As the Nigerian government continues to partner with international organizations like the World Bank, the potential for scalable poverty alleviation strategies increases, fostering sustainable economic growth in the country.