The Minister of Finance and Coordinating Minister of the Economy, Wale Edun has disclosed that 9 million of Nigeria’s vulnerable households have received direct cash transfers under the government’s social protection reforms.
In a statement issued on Thursday, the Federal Ministry of Finance said the minister disclosed this while delivering a 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 from IDA20 — the twentieth replenishment of the International Development Association — which mobilised $97.4 billion in concessional financing for the world’s poorest and most vulnerable countries, including Nigeria.
Speaking on social protection and digital reforms, Edun said over 12 million Nigerians have been enrolled through digital ID integration, with women accounting for nearly 60 percent of them.
According to him, “Nine million poorest households have received direct cash transfers.
When identification is secure and transparent, leakages decline, trust improves, and opportunity expands.”
Top Society reports that Nigeria’s debt to the World Bank’s concessional lending arm, the International Development Association, surged by $1.9bn in just one year to reach $18.7bn as of December 31, 2025.
Reflecting on the period of the programme’s launch, Edun said, “When IDA20 was launched, the world was in crisis.”
The ministry stated that IDA20, the World Bank Group’s 20th replenishment of the International Development Association, mobilised $97.4bn in concessional financing to support the world’s poorest and most vulnerable countries, including Nigeria, as they navigated poverty, fragility, climate change and global economic shocks.
According to the IDA Management’s Discussion and Analysis for the period ended December 31, 2025, Nigeria’s exposure to the bank’s loan portfolio rose significantly from $16.8bn at end-2024, marking an 11.3 per cent year-on-year increase.
The sharp rise shows growing reliance on multilateral concessional financing as the Federal Government navigates tightening fiscal space amid global market volatility.
The latest figures place Nigeria as the third-largest borrower in the IDA portfolio, behind Bangladesh ($23.0bn) and Pakistan ($19.4bn), among the top ten countries with the highest exposures.
Reflecting on the period World Bank programme was initiated, Edun said IDA20 was launched at a time when the “world was in crisis”, reeling from pandemic aftershocks, supply chain disruptions, and rising food insecurity.
“Nigeria faced mounting pressure, but chose reform over retreat,” the minister said, listing exchange rate unification, petrol subsidy removal, and the end of deficit monetisation among the major reforms undertaken during the cycle.
While noting that IDA’s development policy operation provided timely financial and technical support, the minister said Nigeria’s partnership with IDA is unique because the country serves as both a recipient and a contributing donor.
He noted that IDA20 demonstrated how pooled concessional financing, aligned with country priorities, can reduce fragmentation, strengthen policy coherence and support responsible reform.
