Finance minister highlights digital ID integration, subsidy reforms and Nigeria’s dual role at World Bank’s IDA20 retrospective…..
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, says nine million of Nigeria’s poorest households have benefited from direct cash transfers under the Federal Government’s ongoing social protection reforms.
Edun disclosed this on Thursday while delivering the keynote address at the IDA20 retrospective launch hosted by the World Bank Group.
The event, themed “Lessons from IDA20: Delivering Impact in Times of Crisis,” reviewed outcomes under International Development Association (IDA20) — the twentieth replenishment cycle of the World Bank’s concessional financing arm — which mobilised $97.4 billion to support the world’s poorest and most vulnerable countries, including Nigeria.
Digital ID and Social Protection Expansion
According to a statement posted by the finance ministry on X, Edun said more than 12 million Nigerians have been enrolled through digital identity integration as part of reforms aimed at improving transparency and efficiency in social interventions. Nearly 60 per cent of those enrolled are women.
“Nine million poorest households have received direct cash transfers,” Edun said.
He stressed that secure and transparent identification systems are central to improving the credibility of government programmes.
“When identification is secure and transparent, leakages decline, trust improves, and opportunity expands,” he added.
Reform Amid Crisis
Reflecting on the period IDA20 was launched, Edun described it as a time when the global economy was grappling with the lingering effects of the COVID-19 pandemic, supply chain disruptions and rising food insecurity.
“Nigeria faced mounting pressure, but chose reform over retreat,” he said.
He cited major policy actions undertaken during the period, including exchange rate unification, the removal of petrol subsidy and the discontinuation of deficit monetisation, noting that IDA’s development policy operations provided timely financial and technical backing.
Nigeria’s Unique Role
Edun also highlighted what he described as Nigeria’s distinctive relationship with IDA, pointing out that the country serves both as a beneficiary of concessional financing and as a contributing donor.
He said IDA20 demonstrated how coordinated, pooled concessional funding aligned with national priorities can reduce policy fragmentation, enhance coherence and support responsible economic reforms.
The minister’s remarks come as the Federal Government continues to push structural adjustments aimed at stabilising the economy while expanding targeted social protection to cushion vulnerable households.
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