By Stanley Onyeka, Lagos
The Nigerian Social Insurance Trust Fund (NSITF), yesterday, said it has developed a comprehensive programme for the integration of the informal sector into the Employees Compensation Scheme (ECS).
A statement by NSITF General Manager, Corporate Affairs, Nwachukwu Ngige, quoted the Managing Director, Oluwaseun Faleye, as saying that the Fund would tap into the immense potential of the informal economy in broadening access to its social safety net in line with the federal government’s poverty alleviation agenda.
He noted that the national economy would benefit greatly if artisans, traders, and other small service providers were brought into the safety net of the ECS, to enhance productivity and combat poverty.
The statement reads further: “The informal sector is the backbone of our economy. If we can cover this sector effectively, we will safeguard livelihoods and boost national productivity.
“The Fund will double down on extensive sensitisation campaigns across all geopolitical zones which we already started in 2024.”
To this end, he said that more stakeholder engagements would be held in the regions to educate informal sector players on the benefits of the ECS.
The informal sector is the backbone of our economy. If we can cover this sector effectively, we will safeguard livelihoods and boost national productivity.
Reiterating the unique challenges posed by the informal sector, Mr Faleye said the NSITF would develop strategies to deal with each peculiarity with a simple and accessible process.
“To seamlessly achieve this, NSITF will re-engineer its operations as well as workforce to make the ECS available to all workers irrespective of status,” he added.
In his New Year message, Mr Faleye lauded the NSITF staff for their roles in making the achievements recorded in 2024 possible.
He added that the hard work, dedication and perseverance of the staff members were vital in building a stronger team, capable of delivering outstanding results.
He continued: “Within a short time, we have made great strides, launched new initiatives, expanded our reach and overcame obstacles that seemed insuperable.
“Our collective effort has been instrumental in the success of the Fund, and I am proud of the impact we have made together.”
To reposition the Fund for greater heights this year, he informed that management would sustain investment in innovation, and manpower development, to create growth opportunities, both for individuals and the Fund, at large.
“We will continue to build a culture that fosters integrity, inclusivity, well-being, continuous learning and improvement,” he concluded.
