The Federation of Informal Workers Organisation of Nigeria has requested the Federal Government to revise the National Social Protection Policy to include informal workers in old age support, maternity care, and accident insurance.
In a statement, the body highlighted that with the informal economy constituting about 90 per cent of the workforce, it was important not to exclude those workers from social protection mechanisms, especially when the nation was striving to combat poverty.
The General Secretary of FIWON, Gbenga Komolafe, stressed that existing structures like National Health Insurance Scheme and Micro Pension Plan barely address coverage challenges.
According to him, the government needs to subsidise informal workers’ contributions to health and pension funds, the way employers support formal sector workers.
He stressed the importance of tackling extensive macroeconomic leakages that result in the country losing billions of dollars annually.
“To ensure sufficient funds for essential social and physical infrastructure projects, it is imperative to address and put an end to these leakages,” he advised.
Komolafe, however, urged President Bola Tinubu to address challenges with the same vigour he tackled the petroleum subsidy issue.
He noted that, however, the recent palliative measures announced by Tinubu were criticised as insufficient to alleviate the increasing poverty gripping many working Nigerians.
He bemoaned the removal of the petrol subsidy, causing a 300 per cent pump price hike and naira devaluation, resulting in soaring food and transportation costs causing significant hardship.
“Amidst the aftermath of the disastrous currency redesign policy implemented earlier in the year, which caused unimaginable suffering to most Nigerians, especially those in the informal economy, millions of micro and small businesses were destroyed,” he stated.
He further described the grant as meager, adding that “The allocated amount of N8000 ($10/month) is insufficient to support a child or all vulnerable Nigerians as claimed.
“We question the identification process for the 12 million beneficiaries out of a population of 130 million in multidimensional poverty, as past programmes faced issues with poor targeting, benefiting privileged individuals over those in real need.”
He described the Federal Government National Social Investment Programme as the most ambitious financial intermediation programme in recent decades.
