About nine million of Nigeria’s poorest households received direct cash transfers under reforms supported by the International Development Association, the Federal Government has said.
In a statement issued on Thursday, the Federal Ministry of Finance said the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, disclosed this during a keynote address at the IDA20 Retrospective Launch hosted by the World Bank Group.
According to the statement, Edun emphasised that reform efforts must prioritise vulnerable citizens.
“Reform must protect the vulnerable,” he said.
He explained that through digital ID integration, over 12 million Nigerians were enrolled in the programme, with nearly 60 per cent of beneficiaries being women. He added that nine million of the poorest households received direct cash transfers.
“When identification is secure and transparent, leakages decline. Trust improves. Opportunity expands,” Edun stated.
The ministry noted that IDA20 — the World Bank’s 20th replenishment cycle of concessional financing — mobilised $97.4 billion to assist the world’s poorest and most vulnerable countries in addressing poverty, fragility, climate change and global economic shocks.
Reflecting on the global situation at the time of IDA20’s launch, Edun said the world was grappling with multiple crises.
“Pandemic aftershocks. Supply chain disruptions. Rising food insecurity,” he said.
The statement added that Nigeria faced mounting economic pressures during the period but opted to implement structural reforms. These included exchange rate unification, fuel subsidy removal and ending deficit monetisation.
Edun said IDA’s Development Policy Operation provided timely financial support during the reform process.
“Nigeria’s partnership with IDA is unique. We are both: A recipient; A contributing donor,” he noted.
He added that IDA20 demonstrated the value of pooled concessional finance aligned with national priorities.
“It reduced fragmentation. It strengthened coherence. It supported responsible reform,” he said.
However, Nigeria’s debt exposure to the IDA rose sharply over the past year. According to the IDA Management’s Discussion and Analysis report for the period ended December 31, 2025, Nigeria’s exposure increased from $16.8 billion at the end of 2024 to $18.7 billion by December 2025 — an 11.3 per cent year-on-year rise.
The increase reflects growing reliance on concessional multilateral financing as the Federal Government manages fiscal pressures amid global market volatility.
The latest data place Nigeria as the third-largest borrower in the IDA portfolio, behind Bangladesh at $23.0 billion and Pakistan at $19.4 billion among the top ten countries with the highest exposure.
