The Nigeria Social Insurance Trust Fund (NSITF) has developed a comprehensive programme for the integration of the informal sector into the Employees Compensation Scheme (ECS).
The Managing Director of the 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 in broadening access to its social safety net in line with the poverty alleviation agenda of the Federal Government.
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.
General Manager, Corporate Affairs of the NSITF, Nwachukwu Ngige in a statement on Sunday in Abuja, quoted Faleye as saying integrating the informal sector into the ECS would drive national productivity and combat poverty.
He said: “The informal sector is the backbone of our economy. If we can cover this sector effectively, we will not only safeguard livelihoods but also boost national productivity,” he said
“The fund will double down on extensive sensitization campaign across all geopolitical zones which we 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 unique challenges posed by the informal sector, he informed that the NSITF will develop strategies that consider its peculiarities so as to tackle each with a simple and accessible process.
To seamlessly achieve this, he further stated that the NSITF will re-engineer its operations as well as workforce to make the ECS available to all workers irrespective of status.
Similarly, Faleye has lauded the staff of the NSITF for their roles in making possible the achievements recorded in the year 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 success of the fund, and I am proud of the impact we have made together.”
Acknowledging the hard work, dedication and perseverance of the staff members 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.
On manpower development, the Managing Director said the Fund would create opportunities for growth, “both as individuals and the Fund at large.”
He equated the growth of the individual staff to the well-being of the Fund and underscored the quest for hard work.
“We will continue to build a culture that fosters integrity, inclusivity, well-being, continuous learning and improvement,” the MD added.
