In a significant milestone for Nigeria’s social intervention efforts, the number of Nigerians benefiting from the Federal Government’s cash transfer program has surged to 32.21 million as of January 2025, according to a recent report by the World Bank. The initiative, designed to alleviate poverty and empower vulnerable households, has been hailed as a critical lifeline for millions amid economic challenges.
Thank you for reading this post, don't forget to subscribe!Naija247news gathered that the cash transfer scheme, a cornerstone of the Federal Government’s social safety net, has expanded significantly since its inception, reaching an additional 5 million beneficiaries in the past year alone. The World Bank, in its latest assessment, praised the program for its transparency, efficiency, and impact on reducing poverty levels across the country.
According to Naija247news, the report highlighted that the program has particularly benefited women, children, and persons living with disabilities, with 65% of recipients being women. “The cash transfer scheme has not only improved household incomes but also enhanced access to education, healthcare, and nutrition for millions of Nigerians,” the World Bank stated.
Naija247news understands that the program’s success has been attributed to the integration of digital payment systems, which have streamlined the disbursement process and minimized leakages. Beneficiaries receive monthly stipends directly into their bank accounts or mobile wallets, ensuring timely and secure access to funds. A beneficiary in Kano State, Hajia Fatima Usman, told Naija247news, “This money has helped me start a small business and send my children to school. It has changed our lives.”
The World Bank also noted that the cash transfer program has contributed to Nigeria’s economic stability by boosting local economies. Naija247news reports that small-scale traders and farmers in rural areas have seen increased patronage, thanks to the additional income in the hands of beneficiaries.
However, challenges remain. Some stakeholders have called for further expansion of the program to reach more underserved communities and address gaps in implementation. “While the progress is commendable, there is a need to ensure that no one is left behind,” said Dr. Ibrahim Musa, a development economist.
As Nigeria continues to grapple with economic pressures, the cash transfer scheme stands out as a beacon of hope for millions. Naija247news concludes that with sustained commitment and strategic improvements, the program could play an even greater role in lifting Nigerians out of poverty and fostering inclusive growth.
