By Gift Chapi-Odekina, Abuja

The Managing Director and CEO of the Nigeria Social Insurance Trust Fund (NSITF), Mr. Oluwaseun Faleye, has announced that the organisation is expanding its social insurance scheme to include workers in the informal economy, recognizing their critical contribution to Nigeria’s overall economic activity.

Mr. Faleye made this statement during a visit by the Chairman of the Nigeria Union of Journalists (NUJ), Federal Capital Territory (FCT) Chapter, Comrade Grace Ike, and her executive team to the NSITF headquarters in Abuja.

As part of this initiative, NSITF plans to collaborate with NUJ FCT to launch an awareness campaign, provide workplace safety training, and carry out risk assessments for workers in both formal and informal sectors.

Speaking on NSITF’s efforts, Mr. Faleye emphasized the organisation’s commitment to streamlining the claims and compensation process, making it easier for workers and their families to access benefits.

“We are continuously making progress. We are working to speed up payments, simplify registration, and expand our inspection and coverage efforts to bring more workers under the scheme.”

Highlighting the importance of covering informal sector workers, he added: “The informal economy represents a significant portion of Nigeria’s workforce. While the formal sector is structured and easier to reach, our focus must be on extending coverage to informal workers. Through our expanded regional offices and services, we are making genuine efforts to reach as many people as possible. That’s why partnerships like this are essential.”

Mr. Faleye expressed appreciation for the NUJ FCT’s interest in partnering with NSITF, recognizing the media’s role in public awareness and advocacy.

“Journalists play a vital role in shaping public understanding of critical issues. This partnership will help us communicate the benefits of social insurance effectively and encourage wider participation.”

He noted that the collaboration will enhance transparency and accountability, ensuring that accurate information about NSITF’s services reaches the public.



https://www.vanguardngr.com/2025/03/nsitf-targets-informal-economy-in-social-insurance-scheme-faleye/