Connect with us

Metro

$37.8bn needed to close financing  gaps for Universal Social Protection—NLC says

Published

on

$37.8bn needed to close financing  gaps for Universal Social Protection—NLC says

The Nigeria Labour Congress (NLC) says 37.8 billion dollars will be needed as Global Fund for Universal Social Protection for the first five years to close financing gaps.


Mr Ayuba Wabba, NLC President made this known in a statement on Wednesday in Abuja.

Wabba said this during an International Labour Organisation Virtual Summit with the theme: “ COVID-19 and the World of Work Building a better Future of Work’’.

“There is now the urgent need to institutionalise a Global Fund for Universal Social Protection to enable the poorest nations to respond to the pandemic and to build resilience for future economic, health and climate shocks.

“Already, some 10 trillion dollars has been pledged by governments and international financial institutions for economic recovery.

“According to pre-crisis estimates, a Global Fund for Universal Social Protection will need some 37.8 billion dollars for the first five years to close the financing gaps.

“This represents a small fraction of the total global funding to build recovery and resilience; and combination of both comprehensive contributory social security schemes and non-contributory social security guarantees, ‘’ he said.

Wabba said that in Nigeria, over two billion workers were earning their livelihoods in the informal economy, which represented over 60 per cent of workers globally and 90 per cent of total employment in low-income countries.

According to him, ILO says 71 per cent of people globally have little or no access to social protection and COVID-19 has exposed the vulnerabilities of working people in every country in the world.

“Job losses, loss of income and livelihoods, lack of paid sick leave and lack of access to healthcare during the pandemic have resulted in whole communities being vulnerable.

“Also faced with lockdown measures, people are finding it very difficult to manage local and national uncertainties of health and socio-economic impacts, ‘’ he said.

He said that the ILO Convention 102 on Social Security and Recommendation 202 on Social Protection Floors were complementary and mutually reinforcing providing a framework for comprehensive social protection coverage.

Wabba also noted that other practical measures to bridge the massive vulnerability gap included conditional wage subsidies and the extension of unemployment benefits.

He described other measures as universal access to health care, payment of sick leave allowance to workers, including casual workers, the self-employed, platform workers and workers in the informal economy including migrant workers.

He however called on trade unions to connect with civil society allies nationally and globally to promote universal social protection.

He added that a network of government champions for universal social protection should be established.

He said formalising the informal economy and moving decisively towards universal social protection coverage ILO Recommendation 204 on formalising the Informal Economy provides a very good road map for formalizing the informal sector.

He said other measures were to accelerate formalisation of the informal economy, especially for workers in Medium and Small Enterprises (MSEs) as extending Legal Coverage to SMEs and Operators in Informal Sector, among others.

Wabba added that many workers had faced and continued to face the unacceptable choice between continuing to work at risk to their health or falling into destitution and even starvation.

“Therefore, Universal Social Protection is a necessary investment in human security, in building peace, in addressing gender and other inequalities.’’

The News Agency of Nigeria reports that the summit discussed strategies for addressing the massive world-of-work vulnerabilities exposed by the COVID-19 pandemic.

Edited By: Grace Yussuf (NAN)

Joan Nwagwu: is a graduate and a professionally trained journalist, with experience in national news reporting/editing and verification at the News Agency of Nigeria. NNN is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. Our journalists are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and they strive diligently to ascertain the truth in every news report. Contact: editor[at]nnn.com.ng

Tanker drivers start strike Monday as talks with LASG end in deadlock NCDC confirms 437 new COVID-19 case, total of infection hits 46,577 Apapa will open to traffic in October — LASG Halep to decide on United States Open after Prague event Gov. Fayemi mourns ex-Ekiti lawmaker, Fakiyesi Vettel says Ferrari messed up with nonsensical strategy Ekiti Govt paying lip service to healthcare delivery, say striking doctors Resumption: Academy wants COVID-19 protocol funds released directly to schools Willian confirms exit from Chelsea after 7 years Anglican Bishop urges govts to save SMEs from collapse For Europe’s “super clubs”, UEFA Champions League determines all YYA sues for peace in Ondo Assembly, condoles with Ogun over Kashamu Ilorin communities appeal to Gov. AbdulRazaq over damaged culvert NPFL 2019/2020 season: Rivers United still insisting they finished second, not third Imo Assembly restates commitment to local production through effective legislation CAN President urges FG to overhaul security apparatus  Osun: Police dismiss inspector for allegedly brutalising tailor, causing death Nimet predicts cloudy, thundery weather activities Monday to Wednesday Sanwo-Olu gives hospital’s management 7-day ultimatum to remove trucks, containers FG supports Imo farmers with 20,000 cocoa seedlings, other improved seeds COVID-19: Low attendance, strict compliance greet church re-opening in Lagos Ex-Rep wants Obaseki impeached over alleged breach of constitution NMA charges state branches to uphold values to protect members Unknown assailants kill Gov. Obiano’s aide on security DG APC Governors Forum tasks membership on participation, registration  Banditry: Monarch urges govt. to adopt new strategies Cleric tasks worshipers on COVID-19 guidelines as church services resume Kwara records 7 new cases of COVID-19 Beauty queen pledges to showcase cultural heritage of Northern Nigeria Zamfara agency sensitises communities on World Bank projects maintenance, sustainability Don’t smoke away your babies, Gynaecologist warns PDP BOT Chairman seeks conduct of LG election by INEC Community policing: FCT minister advocates involvement of council chairmen, traditional rulers Former Police boss blames security challenges on corruption, bad governance Southern Kaduna attacks: Coalition tasks locals on credible information to military Delta communities want FG to revive abandoned projects Dabiri-Erewa says Dapo William’s death great loss to Nigeria Rev Okoye urges Nigerians to return to God, shun tribalism, other vices Commission pledges to eradicate illiteracy, poverty in North-East FG, ECOWAS to host biodiversity consultation on environmental protection Journalists Forum uncovers Nigerians in critical situation in Saudi Arabia NOA urges collaboration of traditional leaders in fight against COVID-19 APC in UK pays tributes to late Dapo Williams Ekiti Govt distributes protective materials ahead Monday’s school reopening Kogi govt extends schools’ fumigation to Eastern Senatorial district Buhari mourns UK-based Nigerian, Dapo Williams COVID-19: Mosques in Ekiti ready for reopening – NSCIA COVID-19: Churches in Lagos  reopen, record  low turn out after 20 weeks of lockdown Church re-opening: Cleric wants leaders ensure compliance with COVID-19 guidelines FCTA pledges support to Suleja smart city project