More Nigerians are receiving financial relief under the Federal Government’s cash transfer programme, as the number of beneficiaries has climbed to 32.21 million as of January 2025, according to a new World Bank report.
The initiative, part of the National Social Safety Net Program-Scale Up (NASSP-SU), is designed to support vulnerable households amid rising inflation and economic hardship. The latest Implementation Status & Results Report, released on January 29, 2025, shows that over 5 million households are now covered, with digital payments ensuring transparency.
Women, Low-Income Households Benefit the Most
The report highlights that the total number of beneficiaries has grown from 30.35 million in June 2024 to 32.21 million in January 2025. A significant proportion of recipients are women, with 28.55 million female beneficiaries recorded under the scheme. The Economic Shock Responsive Cash Transfer (ESR-CT) component now covers 5.39 million households, while the Extended Regular Cash Transfer (ER-CT) scheme has reached 1.51 million beneficiaries.
Since March 2024, all cash transfers have been made through digital channels linked to verified National Identification Numbers (NINs) or Bank Verification Numbers (BVNs). This shift, driven by the Central Bank of Nigeria (CBN), aims to prevent fraud and improve transparency.
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To ensure that only eligible Nigerians receive payments, the National Social Safety Net Coordinating Office (NASSCO), in collaboration with the National Identity Management Commission (NIMC), has intensified efforts to register and verify beneficiaries. As part of this initiative, NASSCO has been licensed as a front-end enrollment partner for NIN registrations, making it easier to integrate more households into the social protection database.
Challenges and Future Outlook
Despite the programme’s expansion, the World Bank maintains a “Moderately Satisfactory” rating due to several challenges. Delays in implementation, caused by policy changes and leadership transitions, have slowed down progress. Political and macroeconomic risks remain substantial, posing a threat to the programme’s sustainability. Additionally, the lack of beneficiary satisfaction surveys makes it difficult to assess the full impact of the scheme.
Following the appointment of new ministers in October 2024, the government has renewed its commitment to scaling up cash transfers. The World Bank projects that if implementation continues at the current pace, the number of beneficiaries could reach 56 million by December 2025.
The steady increase in cash transfer beneficiaries signals the government’s push to cushion vulnerable Nigerians against economic hardship. With food prices rising and purchasing power declining, the financial support offers relief to millions of struggling families.
The shift to fully digital payments marks a turning point for financial inclusion in Nigeria. By linking social benefits to verified identities, the system is reducing fraud and ensuring that funds reach the right people. However, experts warn that sustained funding, policy stability, and improved transparency will be crucial to maintaining and expanding the programme. The real test will be how effectively the initiative lifts millions out of poverty in the long run.
