Abuja:Prof. Uche Uwaleke, an expert in economy and capital markets, has called on the Federal Government to revamp its conditional cash transfer program.
According to News Agency of Nigeria, Uwaleke, who is also the President of the Capital Market Academics of Nigeria, emphasized that the program, a key poverty reduction initiative of President Bola Tinubu’s administration, needs significant redesign to enhance transparency and public confidence.
The expert highlighted that while the program can offer temporary relief to vulnerable households from economic shocks, its success hinges on accurate beneficiary identification, secure payment methods, adequate transfer amounts, and the ability to effectively monitor outcomes. He warned that without independent verification, the program risks excluding deserving households, leading to potential abuse and diminishing public trust.
Uwaleke recommended replacing the current approach with a more transparent, independently verifiable, and better-targeted social protection framework. He suggested maintaining an updated social register linked to credible government data, with privacy safeguards in place, and incorporating community-based verification to ensure inclusion of remote and underserved communities.
In addition to redesigning the cash transfer program, Uwaleke advocated for reviving the Directorate of Food, Roads and Rural Infrastructure (DFRRI) program to tackle challenges in food production, rural access, and infrastructure. He argued that national development should not focus solely on urban centers, as rural areas, which are vital for agriculture, require stronger market links and essential services.
He proposed a renewed DFRRI-type initiative, designed as a community-centered rural productivity and infrastructure program, to be implemented collaboratively by federal, state, and local governments with clear accountability and measurable outcomes. Uwaleke listed priorities such as feeder roads, irrigation, electrification, water supply, and market infrastructure, which he believes would boost agricultural productivity and employment.
Beyond agriculture, Uwaleke pointed out that high energy costs remain a major issue for domestic production. He called for expanding gas, renewable energy, and reliable grid supply to improve industrial competitiveness and reduce reliance on imports. Additionally, he stressed the importance of strategic infrastructure in transportation and logistics to enhance economic value and productivity.
Uwaleke concluded by emphasizing the need for a cohesive strategy to bolster domestic manufacturing, agro-processing, and industrial development. He underscored the necessity for reliable energy, efficient ports, long-term finance, stable taxation, and effective trade facilitation, alongside stronger fiscal and monetary coordination.