President Buhari to launch pension scheme for self-employed Nigerians

President Buhari to launch pension scheme for self-employed Nigerians

President Muhammadu Buhari will, on Thursday, March 28, at the State House, Abuja, launch the Micro Pension Plan (MPP), a scheme that is aimed to benefit self-employed Nigerians.

The scheme, according to the presidency, will also benefit employees who work in organizations with less than three staff.

The statement announcing the plan, notes that the MPP is part of the federal government’s efforts to bring financial inclusion to all working Nigerians.

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Giving details of the plan, the National Pension Commission noted that the informal sector in Nigeria has at least 69 million workforce.

It said this figure represents about 88% of Nigerian workers without pensions and other safety nets for their old age.

The NPC said its goal is to cover 30 million people in the informal sector by 2024. earlier reported that some Nigerian workers on Tuesday, March 26, urged the federal government to reduce security votes and costs of governance of political office holders in order to accommodate the new minimum wage.

The workers made the call in Enugu in separate interviews while reacting to inability of some state governments to pay the current N18, 000 minimum wage.

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Some of the workers argued that if state governors reduce their “frivolous, wasteful and ostentatious living, paying the new wage would be easy.”

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