The Nigeria Social Insurance Trust Fund (NSITF) said it has developed a comprehensive programme for the integration of the informal sector into the Employees Compensation Scheme( ECS).
NSITF Managing Director Oluwaseun Faleye, disclosed this in a statement signed by NSITF General Manager, Corporate Affairs Nwachukwu Ngige on Sunday.
Faleye said that the fund would tap into the immense potentials of the informal economy in broadening access to its social safety net in line with the poverty alleviation agenda of the Federal Government.
He said that the national economy would benefit greatly if artisans, traders, and other small service providers were brought into the safety net of the ECS.
He further stated that such would drive national productivity and combat poverty.
“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.
“The fund will double down on extensive sensitisation campaign across all geopolitical zones which we already commenced in 2024, “ he said.
The MD said, also, that more stakeholder engagements would 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 said that the NSITF would develop strategies that considered the peculiarities, so as to tackle each 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 said.
Faleye, in an address to mark the New Year, lauded the staff of the NSITF for their roles in making possible the achievements recorded in 2024.
He said that the hard work, dedication and perseverance of the staff members were vital in building a stronger team, capable of delivering outstanding results,
He said, “ 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.”
Faleye said that in repositioning the fund for greater heights in 2025, he would sustain investment in innovation.
On manpower development, the MD 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 wellbeing 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,” he said.
