World Bank: We’ll expand cash transfer programme beyond 10m households — Tinubu
President Bola Tinubu has pledged to expand the Federal Government’s targeted cash transfer programme, which he said has reached more than 10 million households, as part of efforts to improve living conditions for Nigerians.
Tinubu said the government would sustain its economic reforms while expanding social protection measures to ensure that the benefits of economic growth reach more households.
The President made the commitment while reacting to the World Bank’s October 2026 Nigeria Development Update, according to a statement issued on Sunday by his Special Adviser on Information and Strategy, Bayo Onanuga.
“We will continue to expand targeted cash transfers, which have already reached more than 10 million households,” Tinubu said.
He added that the government would accelerate the deployment of compressed natural gas (CNG), increase agricultural productivity and improve access to affordable healthcare and quality education.
The President said more work was needed to ensure that the gains from economic reforms translated into better living standards, particularly through lower food prices and decent jobs for young Nigerians.
The World Bank report, titled Beyond the Federal Purse: How Higher Revenues Reshaped State Priorities, said Nigeria’s economy grew by 4.2 per cent in the first half of 2026, up from 3.9 per cent in the corresponding period of 2025.
It also reported that the poverty rate had stabilised for the first time since 2019 and projected that economic growth would average at least 4.4 per cent between 2026 and 2028.
According to the bank, reforms introduced since 2023 increased federation revenues by 69 per cent in real terms between 2023 and 2025, with state governments benefiting the most.
