The administration of President Bola Tinubu has stated that nine million of Nigeria’s poorest households have received direct cash transfers under reform programmes backed by the World Bank Group.
The disclosure was made by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, during a keynote address at the IDA20 Retrospective Launch hosted by the World Bank Group on Wednesday, according to a statement from the Federal Ministry of Finance.
Edun emphasised the need to shield vulnerable citizens while implementing economic reforms, declaring that “reform must protect the vulnerable.” He noted that over 12 million Nigerians have enrolled through digital identity integration efforts, nearly 60 per cent of whom are women. Of that number, nine million of the poorest households have received direct cash transfers.
He added that the use of secure digital identification systems has helped reduce leakages, improve efficiency and strengthen public trust, saying it has created more opportunities for citizens.
Meanwhile, Nigeria’s debt exposure to the International Development Association (IDA) rose to $18.7 billion as of December 31, 2025. The figure represents an increase of $1.9 billion within a year, up from $16.8 billion at the end of 2024 — an 11.3 per cent year-on-year rise.
According to the IDA Management’s Discussion and Analysis for the period ended December 31, 2025, Nigeria is now the third-largest borrower in the IDA portfolio, ranking behind Bangladesh at $23.0 billion and Pakistan at $19.4 billion.
The ministry explained that IDA20 — the 20th replenishment of the International Development Association — mobilised $97.4 billion in concessional financing to support low-income and vulnerable countries, including Nigeria, in tackling poverty, fragility, climate challenges and global economic shocks.
Reflecting on the global situation at the time of the programme’s launch, Edun said the world was grappling with the aftereffects of the COVID-19 pandemic, supply chain disruptions and rising food insecurity. Despite mounting pressures, he said Nigeria opted for structural reforms rather than policy retreat, highlighting measures such as exchange rate unification, fuel subsidy removal and an end to deficit monetisation.
He described the Development Policy Operation supported by IDA as timely assistance that helped stabilise the economy during a critical period.
Edun also characterised Nigeria’s relationship with IDA as distinctive, noting that the country serves both as a recipient of concessional financing and a contributing donor. He added that the IDA20 framework demonstrated how pooled and concessional financing, aligned with national priorities, can strengthen policy coherence, reduce fragmentation and support responsible economic reform.
