By Cross Udo, Abuja
The Nigeria Social Insurance Trust Fund (NSITF) said it had developed a comprehensive programme to integrate the informal sector into the Employees Compensation Scheme (ECS).
Managing Director of NSITF, Oluwaseun Faleye, disclosed this on Labour Lens, a labour administration programme monitored on TV Continental (TVC).
Faleye said the Fund would tap into the immense potential of the informal economy to broaden access to its social safety net, in line with the federal government’s poverty alleviation agenda.
He noted that the national economy would greatly benefit if artisans, traders, and other small service providers were included in the ECS’s safety net.
He further stated that such would drive national productivity and combat poverty.
The Managing Director, in a statement by the General Manager of Corporate Affairs of the Fund, Nwachukwu Ngige, was quoted as saying, “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 an extensive sensitization campaign across all geopolitical zones, which we have already commenced in 2024.”
Additionally, he said more stakeholder engagements will be held in the regions to educate informal sector players on the benefits of the ECS.
While acknowledging the informal sectors unique challenges, he informed that the NSITF will develop strategies that consider each sector’s peculiarities and tackle each with a simple and accessible process.
To achieve this seamlessly, he further stated that the NSITF will re-engineer its operations and workforce to make the ECS available to all workers irrespective of status.
Similarly, Faleye has lauded the NSITF staff for their roles in making possible the achievements recorded in 2024.
In an address to mark the New Year, Faleye said that 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 fund’s success, and I am proud of our impact together.”
Acknowledging the staff members’ hard work, dedication, and perseverance, which he noted was vital in building a stronger team capable of delivering outstanding results, Faleye said that in repositioning the Fund for greater heights in 2025, he will sustain investment in innovation.
Regarding manpower development, the managing director said the Fund would create growth opportunities “both as individuals and the fund at large.”
He equated the individual staff’s growth to the Fund’s well-being and underscored the quest for hard work.
“We will continue to build a culture that fosters integrity, inclusivity, well-being, continuous learning and improvement,” he added.
