Evaluating and Improving the Adequacy of Nigeria’s Micro Pension Scheme for Self-Employed Workers
Nigeria’s informal economy contributes over 58% to the country’s GDP and employs more than 75% of its workforce. Yet pension coverage within this key sector remains very low. In 2019, the National Pension Commission (PenCom) launched the Micro Pension Plan (MPP) to extend pension benefits to workers in informal employment. Five years on, participation has reached just 0.2% of the 77 million eligible workers. This collaborative study by FIWON, WIEGO, the ILO, TUC-Africa, and ALREI offers the first comprehensive assessment of whether the MPP is meeting its goals and identifies barriers to enrollment and regular contributions and presents evidence-based recommendations to strengthen the scheme. The study highlights both the challenges and the potential for the MPP to become a cornerstone of an inclusive and sustainable pension system for Nigeria’s informal workforce.
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