President Muhammadu Buhari will launch the Micro Pension Plan (MPP), a scheme that is aimed to benefit self-employed Nigerians on Thursday, March 28, at the State House, Abuja.
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.
Giving details of the plan, the National Pension Commission noted that the informal sector in Nigeria has at least 69 million work force.
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.