No fewer than nine million of Nigeria’s poorest households received direct cash transfers under reforms backed by the World Bank’s 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, Mr Wale Edun, disclosed this while delivering a keynote address at the IDA20 Retrospective Launch hosted by the World Bank Group on Wednesday.
According to the statement, Edun said, “Reform must protect the vulnerable.”
He noted that through digital ID integration, “Over 12 million Nigerians enrolled,” with “Nearly 60 per cent women,” while “9 million poorest households received direct cash transfers.”
The minister added that when identification is secure and transparent, “Leakages decline. Trust improves. Opportunity expands.”
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.
Reflecting on the period of the programme’s launch, Edun said, “When IDA20 was launched, the world was in crisis.”
He cited “Pandemic aftershocks. Supply chain disruptions. Rising food insecurity” as the global challenges at the time.
The statement added that Nigeria faced mounting pressure “but chose reform over retreat,” highlighting “Exchange rate unification. Fuel subsidy removal. Ending deficit monetisation.”
Edun said IDA’s Development Policy Operation “provided timely support when it mattered most.”
Describing Nigeria’s relationship with the lender, he said, “Nigeria’s partnership with IDA is unique.”
“We are both: A Recipient; A Contributing Donor,” he added.
The minister further said IDA20 “demonstrated that pooled, concessional finance aligned to country priorities delivers better results,” stressing that “It reduced fragmentation. It strengthened coherence. It supported responsible reform.”
The PUNCH earlier reported 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.
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.