IMF Urges Targeted Cash Transfers to Ease Nigeria’s Cost-of-Living Crisis

The International Monetary Fund has urged Nigeria to provide targeted, temporary cash transfers and income support for vulnerable households facing high food and energy costs. The Fund said the support should be paired with better public spending, stronger revenue collection and a credible plan to reduce public debt without placing more hardship on ordinary Nigerians. It also stressed that monetary policy must continue to tackle inflation while considering its effects on economic activity. Nigeria previously introduced a conditional cash-transfer programme after the 2023 fuel-subsidy removal and foreign-exchange reforms. I remain sceptical about how such schemes are implemented and whether the funds genuinely reach the households most affected by hardship.

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