File: Minister of Finance and Coordinating Minister of the Economy, Wale EdunNo 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. Reflecting on the period of the programme’s launch, Edun said, “When IDA20 was launched, the world was in crisis.”He cited “Pandemic aftershocks. The statement added that Nigeria faced mounting pressure “but chose reform over retreat,” highlighting “Exchange rate unification. The minister further said IDA20 “demonstrated that pooled, concessional finance aligned to country priorities delivers better results,” stressing that “It reduced fragmentation. The sharp rise shows growing reliance on multilateral concessional financing as the Federal Government navigates tightening fiscal space amid global market volatility.

Source: Punch February 26, 2026 23:56 UTC