Nigeria’s cash transfer programme reached only 10% of targeted households, says World Bank

The World Bank has raised an alarm that only 10 per cent of targeted poor and vulnerable households have benefitted from the Federal Government’s recently launched cash transfer of N25,000 per month.

This is according to data from the World Bank’s Lead Economist for Nigeria, Alex Sienaert, during his presentation of the Nigeria Development Update December 2023 edition titled “Turning The Corner, From Reforms and Renewed Hope to Results” launched last week in Abuja.

According to his presentation document, the Federal Government plans to make cash transfers to low-income households, paying N25,000 per month for three months targeting 15 million households, however, only 1.5 m households had benefitted till date.

“Currently 1.5 million households have received money, and the programme is expected to reach five million households by the end of December” he said.

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With only 1.5 million households paid out of the targeted 15 million, it means that payment has been made to only 10 per cent of the projected households.

This also means that 90 per cent of the targeted households are yet to get their monthly N25,000 cash transfers despite the overwhelming hardship in the country.

The elimination of fuel subsidies and other recent policies have had a disproportionate impact on Nigeria’s poor and vulnerable, who stand to benefit greatly from a monthly cash transfer system that the Federal Government intends to fund with the World Bank loan.

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