- Nigeria Needs Long-Term Capital, Infrastructure Investment— Arunma Oteh
The Minister of Finance Wale Edun has assured Nigerians that the Federal Government’s ongoing economic reforms are being implemented with a strong focus on easing the hardships faced by ordinary citizens, particularly the poor and vulnerable.
Speaking at the Oxford Global Think Tank Leadership Conference on Tuesday in Abuja, the minister acknowledged the economic challenges confronting Nigerians, including rising food and transport costs, but emphasized that measures were already in place to cushion the effects of the reforms.
According to the minister, the government has established a transparent, accountable, and robust system for providing direct payments to 15 million households across the country.
“Each individual beneficiary is identified by name and their national identity number, and payments are made digitally—either directly to their bank accounts or mobile wallets,” the minister explained.
He added that the process ensures transparency and accountability while enabling the government to monitor disbursements in real time.
Responding to concerns that some communities had yet to benefit from the payments, the minister said data would soon be released showing the names of beneficiaries who had received the first, second, and third tranches.
Beyond the cash transfers, the minister disclosed that the government was also implementing a ward-based development programme designed to take resources, information, and funding directly to the 8,809 wards in Nigeria’s 774 local government areas.
“The initiative will empower economically active people at the ward level—sup- porting small businesses, cottage industries, and local entrepreneurs to boost production and create sustainable livelihoods,” he stated.
He further noted that the reforms aim not only to stabilize the economy but also to ensure that their benefits “reach right down to the lowest levels of society.”
Commenting on youth involvement, the minister praised Nigerian young people for embracing values such as empathy, integrity, and responsibility, describing them as essential traits for the country’s next generation of leaders.
He commended the organisers of the event for fostering dialogue on leadership and development, reiterating that the government’s goal was to build an inclusive economy where every Nigerian feels the positive impact of reforms.
Former Director-General of the Securities and Exchange Commission (SEC) and Founder Oxford Global Think Tank, Ms. Arunma Oteh, at the event called for urgent action to mobilize long-term capital, accelerate infrastructure development, and decentralize the management of Nigeria’s mineral resources to unlock sustainable growth.
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