The second phase of the computerized Nigeria Social Insurance Trust Fund, which will allow concessionaires to enhance the infrastructure for N15 billion, was approved by the federal government on Wednesday in Abuja.
At the Federal Executive Council meeting, which was presided over by Vice President Yemi Osinbajo and held in the Council Chambers of the Presidential Villa, Abuja, Minister of Labour and Employment, Dr. Chris Ngige, revealed this to State House Correspondents.
Ngige also disclosed that the International Labour Organization-recommended updates to antiquated labor regulations were authorized by the Council.
“Now is for a concessionaire to come and upgrade the infrastructure in the vicinity of N15bn and then after that, it will take some percentage on additional revenue that accrued,” Ngige added.
