World

Nigeria Targets 7.5 Million Households for Cash Transfers Amid Reform Push

By Ojochenemi Onje

The Federal Government announced a new round of cash transfers aimed at 7.5 million households as part of its effort to cushion the impact of economic reforms. At a panel discussion on “Connecting Growth to Households” during the 32nd Nigeria Economic Summit in Abuja, Minister of Humanitarian Affairs and Poverty Alleviation Bernard Doro said the government would continue deploying cash transfers, vocational skills training, grants to farmers and collateral‑free loans to support vulnerable Nigerians as the economy adjusts to reforms introduced over the past three years.

Doro noted that while the reforms have begun creating an enabling environment for businesses and improving economic confidence, their benefits will not reach households immediately. He compared Nigeria’s three‑year reform programme to China’s 40‑year effort that lifted about 800 million people out of extreme poverty. The minister emphasized the need to sustain reforms while expanding targeted interventions for households struggling with the cost of living.

He outlined a proposed “One Humanitarian, One Poverty Response System” that would integrate humanitarian assistance, social protection and poverty‑reduction programmes into a coordinated framework. The ministry plans to establish a digital architecture to link different delivery systems, enabling agencies to share information and coordinate interventions more effectively.

Abubakar Suleiman, Managing Director and CEO of Sterling Bank, stressed that macroeconomic stability is essential for household welfare. He warned that persistent inflation erodes purchasing power and that stabilising prices is a key government responsibility. Suleiman also urged the private sector to support inclusive development, citing Sterling Bank’s 10‑year HATS strategy that has increased the bank’s balance‑sheet exposure to healthcare, education, agriculture, renewable energy and transport.

Kalpana Kochhar, Interim President of Global Policy and Advocacy at the Gates Foundation, called for treating healthcare and education as investments in productive capacity. She highlighted the need for stronger delivery systems and suggested a household prosperity dashboard to complement GDP growth metrics.

Abhishek Singh, Indian High Commissioner to Nigeria, highlighted India’s direct benefit transfer system and digital payment infrastructure as models that could improve access to economic opportunities in Nigeria. He urged deeper bilateral cooperation in trade diversification, local manufacturing, skills development and affordable energy.

The government’s plan includes institutionalising reforms, operationalising a poverty‑exit pathway and systematically tracking poverty‑reduction programmes to ensure interventions reach intended beneficiaries and improve household welfare.