By Favour Ulebor

The Federation of Informal Workers Organizations of Nigeria, FIWON, has raised concern over the lack of pension coverage for millions of Nigerians working outside formal employment, noting that they constitute about 93 per cent of the country’s active workforce.

Speaking during a rally in Abuja, FIWON General Secretary, Gbenga Komolafe, said the absence of pension protection has left a vast majority of informal workers vulnerable, particularly in old age.

He noted that informal workers—including traders, artisans, domestic workers, mechanics, and vendors—remain largely excluded from the nation’s pension system despite their significant contribution to the economy.

Komolafe observed that although the micro pension scheme introduced by the National Pension Commission, PenCom, was designed to accommodate informal sector workers, it has not delivered meaningful results.

According to him, the voluntary nature of the scheme, coupled with economic realities such as inflation, has discouraged participation and eroded potential returns on savings.

“But we have discovered that it is not working. Inflation alone takes away whatever interest is expected to accrue to such savings toward old age,” he said.

FIWON, therefore, called on the Federal Government to introduce a contributory support system where government matches or part-funds the pension contributions of informal workers to make the scheme more attractive and sustainable.

He stressed that extending pension coverage to informal workers is critical to ensuring income security in retirement and reducing old-age poverty across the country.

Also speaking, Chairperson of FIWON, FCT chapter, Blessing Yusuf, described pension access as a fundamental right of workers, urging the government to prioritise inclusive pension reforms that cater to the informal sector.

In a letter submitted to the Speaker of the House of Representatives, Abbas Tajudeen, the group called for government-backed pension support and the inclusion of informal workers in ongoing pension reforms.

FIWON maintained that strengthening pension coverage for informal workers would enhance economic stability and improve the overall welfare of millions of Nigerians.