.Okays N15bn for e-NSITF infrastructure upgrade
In continuation of the series of approvals, the Federal Executive Council (FEC), yesterday approved about N1.535 trillion for the construction and rehabilitation of 11 roads across the country.
The construction are to be enabled under the Nigerian National Petroleum Company Limited (NNPCL) tax credit scheme.
The Council, at the weekly FEC meeting presided by Vice President Yemi Osinbajo, also ratified N15 billion for the phase two of the electronic Nigeria Social Insurance Trust Fund (e-NSITF), to enable concessionaires to upgrade the infrastructure.
Speaking on Wednesday after the meeting, Minister of Works and Housing, Babatunde Fashola, said over N1.5 trillion would be spent on some major roads in Nigeria, totalling over 700 kilometres linking 11 states.
The states include Edo, Delta, Kano, Kaduna, Borno and Adamawa among others.
“The Council gave approval for the construction and rehabilitation of 11 roads totalling 737.242 kilometres in the sum of N1,535,154,247, 234.48 under phase II of the NNPC tax credit scheme,” Fashola said.
“Recall that in January this year, the Council approved a memo for the NNPC to invest N1.9 trillion on our roads. That amount was then for about 44 roads that had been awarded and the balance of those roads that had to go through procurement between then and now are the 11 that have now been approved by the Council.”
Therefore, we are trying to align the contributions of NSITF to make it fraud-free. People should be able to easily make workers’ contributions, even from the comfort of their offices, and generate certificates.
e-NSITF infrastructure
Regarding the e-NSITF infrastructure, the Minister of Labour and Employment, Chris Ngige, said this is to bring the infrastructure at par with global standards.
He said: “This memo is for the electronic NSITF. Nigeria operates the old Workmen Compensation Act, now Employees Compensation Act 2010.
“Therefore, we are trying to align the contributions of NSITF to make it fraud-free. People should be able to easily make workers’ contributions, even from the comfort of their offices, and generate certificates.
“You know that the ECA makes it mandatory for all employers to insure their workers through a token contribution of a per cent of their emolument to the social trust fund of the NSITF.
“And that is the fund with which if you have an accident or disease condition or debt or disability in the course of work, you can make a claim, like an insurance claim.”
The Minister continued: “Now is for a concessionaire to come and do infrastructure and upgrade it in the neighbourhood of N15billion and then after that, it will take some percentage on incremental revenue that accrued. It will make the form more liquid now and we’ll be able to do our functions appropriately.
“So, the Council gave the go ahead today and approved it and directed ICRC which is the body authorised by law to enter into such a concession, to continue the process and liaise with the Office of the Attorney-General of the Federation.”
He also noted that “The country’s labour laws, as presently being operated, are really obsolete. And the ILO has pointed out that we need to bring our laws current with international labour standards.
“It is a long journey started in 2001 by a previous administration, and at one point, the five bills were sent to the National Assembly for enactment into law in 2007/2008 but only one came out.” (Agency reports)
