ABUJA, Nigeria – Minister of Finance and Coordinating Minister of the Economy, Wale Edun, says ongoing economic reforms are specifically designed to cushion hardship among vulnerable Nigerians.
Speaking on Tuesday at the Oxford Global Think Tank Leadership Conference in Abuja, Edun acknowledged rising living costs but said the government has deployed a digital financial support system to reach 15 million households.
“Each beneficiary is verified by name and National Identification Number, and payments are made directly into bank accounts or mobile wallets,” Edun said.
He also revealed a ward-level intervention programme across Nigeria’s 8,809 wards to boost small businesses and local production.
“These reforms aim not only to stabilise the economy but to ensure the gains reach the poorest,” he noted.
Former SEC DG, Arunma Oteh, said Nigeria must increase infrastructure investment from 4–5% of GDP to at least 12%. Former CBN Governor Sanusi Lamido Sanusi argued that delaying subsidy removal worsened current economic hardship.
“Subsidy removal was inevitable. Leadership involves addressing reform costs, not running from them,” Sanusi said.
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