Money transfers reached 9 million poorest houses – FG

About 9 million poorest households in Nigeria acquired direct money transfers beneath reforms backed by the World Financial institution’s Worldwide Improvement Affiliation, the Federal Authorities has stated.

In an announcement issued on Thursday, the Federal Ministry of Finance stated the Minister of Finance and Coordinating Minister of the Economic system, Mr Wale Edun, disclosed this whereas delivering a keynote deal with on the IDA20 Retrospective Launch hosted by the World Financial institution Group on Wednesday.

Based on the assertion, Edun stated, “Reform should shield the weak.” He famous that via digital ID integration, “Over 12 million Nigerians enrolled,” with “Practically 60 per cent ladies,” whereas “9 million poorest households acquired direct money transfers.”

The minister added that when identification is safe and clear, “Leakages decline. Belief improves. Alternative expands.”

The ministry acknowledged that IDA20, the World Financial institution Group’s twentieth replenishment of the Worldwide Improvement Affiliation, mobilised $97.4bn in concessional financing to help the world’s poorest and most weak international locations, together with Nigeria, as they navigated poverty, fragility, local weather change, and international financial shocks.

Reflecting on the interval of the programme’s launch, Edun stated, “When IDA20 was launched, the world was in disaster.” He cited “Pandemic aftershocks. Provide chain disruptions. Rising meals insecurity” as the worldwide challenges on the time.

The assertion added that Nigeria confronted mounting strain “however selected reform over retreat,” highlighting “Change price unification. Gasoline subsidy removing. Ending deficit monetisation.”

Edun stated IDA’s Improvement Coverage Operation “supplied well timed help when it mattered most.” Describing Nigeria’s relationship with the lender, he stated, “Nigeria’s partnership with IDA is exclusive. We’re each: A recipient; A contributing donor.”

The minister additional stated IDA20 “demonstrated that pooled, concessional finance aligned to nation priorities delivers higher outcomes,” stressing that “It lowered fragmentation. It strengthened coherence. It supported accountable reform.”

The PidomNigeria earlier reported that Nigeria’s debt to the World Financial institution’s concessional lending arm, the Worldwide Improvement Affiliation, surged by $1.9bn in only one yr to achieve $18.7bn as of December 31, 2025.

Based on the IDA Administration’s Dialogue and Evaluation for the interval ended December 31, 2025, Nigeria’s publicity to the financial institution’s mortgage portfolio rose considerably from $16.8bn at end-2024, marking an 11.3 per cent year-on-year enhance.

The sharp rise exhibits rising reliance on multilateral concessional financing because the Federal Authorities navigates tightening fiscal area amid international market volatility.

The newest figures place Nigeria because the third-largest borrower within the IDA portfolio, behind Bangladesh ($23.0bn) and Pakistan ($19.4bn), among the many high ten international locations with the best exposures.