Nigerians benefiting from FG’s cash transfers hit 32.21 million in January 2025 – World Bank 

The number of Nigerians benefiting from the Federal Government’s cash transfer programme under the National Social Safety Net Program-Scale Up (NASSP-SU) has risen to 32.21 million as of January 2025, according to the latest World Bank Implementation Status & Results Report.

Released on January 29, 2025, the report indicates that the cash transfer initiative, aimed at supporting poor and vulnerable households, has continued to expand despite initial implementation delays, covering over 5 million households in the country.

The program, implemented by the Federal Ministry of Humanitarian Affairs and Poverty Alleviation, is designed to provide financial relief to low-income households while strengthening Nigeria’s social safety net system.

The report read, “The direct benefit transfer program to date has supported over 5 million households. Following the CBN circular of December 2023, mandating the use of NIN or BVN to operate an account after March 2024, and the recommendation from the presidential panel, all transfers since March 2024 are made to beneficiaries whose NIN or BVN have been verified. About 1.4 million households, part of the total 5 million, have received a second and third tranche of support.”

Key figures from the report 

The total number of social safety net beneficiaries grew from 30.35 million in June 2024 to 32.21 million in January 2025.A significant proportion of the beneficiaries are women, with 28.55 million female recipients registered under the scheme.The number of households receiving cash transfers under the Economic Shock Responsive Cash Transfer (ESR-CT) component increased to 5.39 million.Beneficiaries of the Extended Regular Cash Transfer (ER-CT) reached 1.51 million.As part of efforts to improve transparency, all cash transfers are now digitally processed through verified National Identification Numbers (NIN) or Bank Verification Numbers (BVN).

Implementation and expansion efforts The report highlighted a targeted NIN registration drive undertaken by the National Social Safety Net Coordinating Office (NASSCO) in collaboration with the National Identity Management Commission (NIMC). This initiative aims to validate existing social register entries and ensure all new recipients have a verified identity before receiving payments.

To scale up cash transfers, NASSCO has been licensed as a front-end enrollment partner for NIN registrations. This effort is expected to increase the number of verified households in the direct benefit transfer programme, ensuring a more secure and efficient distribution process.

Additionally, the report notes that cash transfers since March 2024 have been strictly limited to recipients with verified NINs or BVNs, following a directive from the Central Bank of Nigeria (CBN). This move aims to prevent fraud and enhance the integrity of the programme.

Challenges and risks The World Bank report maintained a “Moderately Satisfactory” rating for both the programme’s overall implementation and its progress toward achieving its objectives. Several challenges were identified, including:

Delays in implementation due to changes in project leadership and policy adjustments.Political and macroeconomic risks, classified as “Substantial,” could affect the sustainability of the programme.The lack of beneficiary satisfaction surveys makes it difficult to gauge the full impact of the initiative.Also, the report emphasized the importance of continued digital payment adoption, as 100% of beneficiaries now receive transfers through electronic channels backed by biometric identification.

Government commitment and future targets 

Following the appointment of new ministers to the Federal Ministry of Humanitarian Affairs and Poverty Reduction in October 2024, the government has renewed its commitment to expanding the programme.

The World Bank projects that the number of cash transfer beneficiaries could reach 56 million by December 2025 if implementation continues at the current pace.

What this meansThe increase in cash transfer beneficiaries to 32.21 million shows the Federal Government’s expanding efforts to provide financial support to vulnerable households amid rising economic pressures.

This growth signals a wider reach of social intervention programmes, particularly for low-income Nigerians who have been impacted by inflation, high food prices, and reduced purchasing power.

The focus on digital payments linked to verified NINs and BVNs reflects a shift towards better transparency and reduced fraud, ensuring that funds reach the intended recipients efficiently.With 100% of transfers now processed electronically, the system minimises leakages while integrating more Nigerians into the formal financial ecosystem.However, the substantial political and macroeconomic risks highlighted by the World Bank suggest that sustained funding and policy continuity will be essential to maintaining and expanding the programme.Implementation delays and administrative bottlenecks could slow down progress, especially as new leadership takes over the programme’s oversight.For businesses and financial service providers, the expansion of digitally enabled payments could drive further adoption of financial services among underserved populations, opening up opportunities for fintech innovation, mobile money adoption, and deeper financial inclusion.

As the government aims to scale up to 56 million beneficiaries by December 2025, the effectiveness of this programme will depend on consistent funding, policy stability, and improved beneficiary feedback mechanisms to assess its real impact on poverty reduction.