The Federal Government has reaffirmed its commitment to easing the economic strain on Nigerians through transparent and accountable welfare initiatives aimed at vulnerable households across the country.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, disclosed that the government is implementing a digital payment system designed to ensure efficiency and transparency in delivering direct financial support to 15 million households affected by ongoing economic reforms.
“There is an attempt to ensure that the pains of reform are immediately alleviated. That’s why there is a transparent, accountable, and robust system of providing direct payments to 15 million households,” Edun stated.
He explained that the government’s payment programme is built on a digital verification framework to prevent leakages and ensure that funds reach the intended beneficiaries.
“In some places, people say they haven’t heard of anyone receiving the payments. We immediately call for the data to verify this because each individual is identified by name, national identity number, and paid digitally—either to a bank account or mobile wallet. There is accountability, transparency, and a record,” the minister noted.
According to him, the administration plans to broaden the initiative to include more Nigerians at the grassroots level, as part of its effort to cushion the effects of the reforms and stimulate local economic activities.
Edun also announced the introduction of a ward-based development programme, which will channel resources directly to Nigeria’s 8,809 wards across the 774 local government areas.
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“This initiative will empower small businesses and cottage industries at the ward level by providing access to funding and support. It’s a key element in ensuring that the benefits of ongoing reforms reach every corner of the country,” he added.
Also speaking at the event, Dr. Arunma Oteh, Founder of the Oxford Global Think Tank Leadership, urged increased investments in infrastructure and human capital, describing them as crucial drivers of sustainable economic growth.
She pointed out that Nigeria must significantly scale up its infrastructure spending if it hopes to achieve transformative development.
“China, over the years, invested about 24 per cent of its GDP in infrastructure. At best, we do 4 to 5 per cent. If we want to bridge the infrastructure gap, we must raise this to at least 12 per cent,” Oteh said.
She further emphasized the importance of preparing young Nigerians for leadership, stressing that long-term prosperity hinges on consistent investments in people and infrastructure.