By Zainab Iwayemi
Federal civil servants in the country now have group life insurance cover for the 2021-2022 insurable year following the approval of payment of N9.23 billion premium by the federal government for this purpose.
It comes as part of efforts aimed at the improvement of the welfare benefits of public service employees in Nigeria as the Federal Executive Council (FEC) approved the N9.23 billion as premium for insurance companies responsible for the management of the group life insurance for federal civil servants in the country.
Lai Mohammed, minister of information and culture, made the disclosure following a recent meeting of cabinet that was presided over by President Muhammadu Buhari at the State House, Abuja.
The approved sum for insurance premium will run for a 12 months period in the year 2021-2022 and it will be solely for the government’s welfare programme for its employees.
“On behalf of the Head of Civil Service of the Federation, I will like to report that council today approved the award of contract for the appointment of insurance companies for group life assurance for federal government employees, public servants paramilitary and the intelligence community for the year 2021-2022 in the sum of N9, 248. 995, 907 and this premium is for a period of 12 months. “This is part of the government’s welfare programme for our public employees so that in case of death, they are assured that there would be compensation,” he said.
The information and culture minister also disclosed that the executive council approved the sum of N18.1 billion for the Ministry of Industry, Trade and Investment to aid the development of infrastructure as well as the Kano and Calabar Free trade Zones.
Mohammed further stated that the Textile and Garment Park and the Special Economic Zone, Lekki in Lagos will also be developed from the approved amount, adding that the approval was of critical importance to the country’s infrastructure development.