Nigeria, developing countries to invest $1.2tr on basic social protection –ILO

Bimbola Oyesola

As a fallout of the negative impact of COVID-19 and to guarantee at least basic income security and access to essential health care for all in 2020 alone, Nigeria and other developing countries should invest approximately $1.2 trillion – on average 3.8 per cent of their GDP, says International Labour Organization (ILO).

According to ILO, since the onset of the COVID-19 pandemic, the social protection financing gap has increased by approximately 30 per cent according to Financing gaps in social protection: Global estimate and strategies for developing countries in light of the COVID-19 crisis and beyond.The […]

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