INSTITUTE CALLS FOR WIDER SOCIAL SECURITY COVERAGE FOR INFORMAL WORKERS

Nigeria’s large informal workforce remains a major challenge to extending social security coverage to citizens, the Institute of Leadership, Coaching and Strategy has said.

The institute made the observation during its eighth monthly webinar, which focused on the state of social security in Nigeria. Its Governing Council Chairman, Olasunkade Azeez, said existing social protection systems must be assessed against the realities of workers operating outside the formal economy.

Azeez said Nigeria had laws, policies and institutions covering areas such as pensions, healthcare, employee compensation and social assistance, but questioned how effectively these systems reached people in informal employment.

He noted that many Nigerians remain exposed to financial difficulties arising from unemployment, healthcare costs, disability, retirement and other economic shocks.

The institute chairman said social security should not be viewed solely as a legal or welfare issue, arguing that its effectiveness also depended on financing, public policy, institutional capacity, leadership, transparency and accountability.

He called for broader participation by employers, professional organisations, civil society groups, communities and individuals in expanding social protection across the country.

Azeez said the focus should shift from simply establishing social security programmes to determining whether they were accessible, adequate and effective for ordinary Nigerians.

He also urged policymakers to develop systems that could respond to changes in Nigeria’s labour market and provide greater protection for workers in the informal economy.

The institute said the objective should be to close the gap between social protection policies and the lived experiences of citizens by developing a more inclusive and sustainable system.