An Assessment of Social Insurance As A Strategy for Enhancing Social Protection Effectiveness in Nigeria.
Keywords:
Social-insurance, Social protection
Abstract
Nigeria's economic development has not been sufficient to significantly lessen inequality and poverty. While the Gini coefficient, an economic statistic used to evaluate income and wealth inequality, is high, the poverty level has worsened over the past 20 years and is still continuing to rise. To reduce the country's high rates of susceptibility and poverty, the government has worked to create with its development partners social safety measures, one of which is social security. Based on this, the study's goal is to evaluate social security as a strategy to improve the efficacy of Nigeria's social protection using primary data collected through the distribution of a questionnaire that was specifically tailored to the study's aims and objectives. The target audience for the study consists of all the insurance firms that are based in Lagos, Nigeria, and are currently conducting businesses there, with an adequate and suitable sample size calculated using the technique developed by Cochran in 1977. While frequency counts and percentages were employed to explain the demographic data in descriptive statistics, mean, and standard deviation of the respondents, inferential statistics—one sample t-test and regression—were utilized to address the research inquiries and test the study's hypotheses that were developed. The findings show that implementing social insurance systems reduces the risk for the poor and has a profoundly favourable impact on the scope of social protection coverage. The study, therefore, advised strengthening the institutional governance elements of social protection programs and educating program members to keep implementers accountable. The design and execution of programs should also focus on equity.
References
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Borchert, Donald M. (2006). Intrinsic Value. Macmillan Encyclopedia of Philosophy, 2nd Edition. Macmillan.
Bramble, B. (2016). Welfarism. Forthcoming in International Encyclopedia of Ethics (ed. Hugh LaFollette). https://philarchive.org/archive/BRAW-8Amin, S. (1996). Economic, social and political distortions in the modern world. Third World Forum Amsterdam, August 22, 1996.
Bramble, B. (2021). Welfarism. The International Encyclopedia of Ethics, 2nd print edition. New York: Wiley-Blackwell
Brearley, Emily J. (2016). A History of Social Protection in Latin America: From Conquest to Conditional Cash Transfers. Revue Interventions économiques [En ligne], 56. https://doi.org/10.4000/interventionseconomiques.2926
Brian, Abel-Smith (2022). Historical evaluation – social security. Retrieved on May18, 2022 from Britannica. https:/www.britannica.com
Brown, C., Ravallion, M., & Walle, D. (2016). A Poor Means Test? : Econometric Targeting in Africa. World Bank Group, Policy Research Working Paper 7915.
Conway, T., de Haan, A., & Norton, A. (Eds) (2000). Social Protection: New Directions of Donor Agencies. London: Department for International Development.
Crisp, R. (2017). Well-Being: 5.1 Welfarism. The Stanford Encyclopedia of Philosophy. Metaphysics Research Lab, Stanford University. Retrieved 13 September 2021.
Dode Robert Oghenedoro (2010). Yar’adua 7-Point Agenda, the Mdgs and Sustainable Development in Nigeria. Global Journal of Human Social Science, 10(4).
Doshmangir, L., Bazyar, M., Rashidian, A., & Gordeev, V. S. (2021). Iran health insurance system in transition: equity concerns and steps to achieve universal health coverage. International Journal for Equity and Health. Retrieved from https://doi.org/10.1186/s12939-020-01372-4
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Duignan, B. (2000). Utilitarianism (revised). Encyclopædia Britannica. Retrieved 5 July 2020.
ECLAC (Economic Commission for Latin America and the Caribbean) (2016). Inclusive social development: The next generation of policies for overcoming poverty and reducing inequality in Latin America and the Caribbean (LC.L/4056/Rev.1), Santiago, January
Gross, T., Layton, T., & Prinz, D. (2020). The Liquidity Sensitivity of Healthcare Consumption: Evidence from Social Security Payments. NBER Working Paper 27977
Heclo, H. (1974). Modern social politics in Britain and Sweden: From relief to income maintenance. Yale University Press.
High-level Advisory Board on Economic and Social Affairs (2020). Recovering better: economic and social challenges and opportunities. A compilation of the High-level Advisory Board on Economic and Social Affairs Published by the United Nations, Department of Economic and Social Affairs New York, New York 10017, United States of America
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Holmes, R., Akinrimisi, B., Morgan, J., & Buck, R. (2012). Social protection in Nigeria: Mapping programmes and their effectiveness. Overseas Development Institute
Holtug, N. (2003). Welfarism – The Very Idea. Utilitas. 15 (2), 151. 151. doi:10.1017/s0953820800003927.
Honderich, Ted (2005). good-in-itself. The Oxford Companion to Philosophy. Oxford University Press.
Huang G & Cai Z. (2021). Understanding Social Security Development: Lessons From the Chinese Case. SAGE Open. 1-13, July 2021. doi:10.1177/21582440211032633
Kalusopa, T. (2012). Social protection scheme in Africa. 11(1), 18. Retrieved on May 18, 2022 from https://www.ituc-africa.org
Kerr, C., Dunlop, J., Harbison, F., & Myers, C. (1960). Industrialism and industrial man. Oxford University Press.
Kuhlmann, J., & Nullmeier, F. (2021). A mechanism-based approach to the comparison of national pension systems in Vietnam and Sri Lanka. Retrieved from https://doi.org/10.1111/spol.12691
Leeuwen, Marco H. D. van (1994). Logic of Charity: Poor Relief in Preindustrial Europe. The Journal of Interdisciplinary History. 24 (4), 589-613. (Spring, 1994). https://doi.org/10.2307/205627, https://www.jstor.org/stable/205627
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Myles, J., & Quadagno, J. (2002). Political theories of the welfare state. Social Service Review, 3, 34–57.
National Planning Commission (2004). National economic empowerment and development strategy 33, as cited in Anifalaje, • K. (2017). Implementation of the right to social security in Nigeria. African Human Rights Law Journal Volume 17(2), Pretoria 2017. http://dx.doi.org/10.17159/1996-2096/2017/v17n2a4
National Planning Commission (2004). NIGERIA: National Economic Empowerment and Development Strategy (NEEDS). NEEDS@Nigerianeconomy.com, National Planning Commission, Federal Secretariat, Abuja. Retrieve on May 24, 2022 from https://www.cbn.gov.ng/out/publications/communique/guidelines/rd/2004/needs.pdf.
Nigerian National Planning Commission (2004). Meeting Everyone’s Needs: National Economic Empowerment and Development Strategy. Nigerian National Planning Commission Abuja 2004. Retrieve on May 28, 2022 from https://www.imf.org/external/pubs/ft/scr/2005/cr05433.pdf
Oke, L. Oluwasuji, C. O., Simon-Oke, O. O., (2011). Millennium Development Goals {MDGs} and the Yar'adua's Seven Point Agenda in Nigeria: Prospects and Challenges. An International Multi-Disciplinary Journal, Ethiopia 5 (1), 57-72, Serial No. 18, January, 2011.
Onah, Roseline C., & Olise, Charles, N., (2019). National Social Investment Programme (NSIP) and Sustainable Poverty Reduction in Nigeria: Challenges and Prospects. OSR Journal of Humanities and Social Science (IOSR-JHSS), 24(10), Series. 11, 2279-0845. Available from: https://www.researchgate.net/publication/339484903_National_Social_Investment_Programme_NSIP_and_Sustainable_Poverty_Reduction_in_Nigeria_Challenges_and_Prospects [accessed May 28 2022].
Osabohien, R., Matthew, O., Ohalete, P., & Osabuohien, E. (2020). Population–Poverty–Inequality Nexus and Social Protection in Africa. Social Indicators Research 151, 575–598. Retrieved from https://doi.org/10.1007/s11205-020-02381-0
Popa, A. F., Jimon, S. A., David, D., & Sahlian, D. N. (2021). Influence of Fiscal Policies and Labour Market Characteristics on Sustainable Social Insurance Budgets- Emprical Evidence Central and Eastern European Countries. Sustainability, 13(11):14
Pryor, F. (1968). Public expenditures in communist and capitalist nations. Irwin.
Rimlinger, G. (1971). Welfare policy and industrialization in America, Germany and Russia. Wiley.
Shiferaw, A., Bedi, A. S., Söderbom, M., & Alemu, G. (2017). Social Insurance Reform and Labor Market Outcomes in Sub-Saharan Africa: Evidence from Ethiopia. IZA DP No. 10903
Sinnott-Armstrong, W. (2021). Consequentialism: 3. What is Good? Hedonistic vs. Pluralistic Consequentialisms. The Stanford Encyclopedia of Philosophy. Metaphysics Research Lab, Stanford University. Retrieved 18 September 2021.
Stiftung, Friedrich Ebert (2018). Social protection in Nigeria. Printed by Frankade@08062367774, First Published 2018. Retrieved on May 19, 2022 from http://library.fes.de/pdf-files/bueros/nigeria/15963.pdf
Vanguard (May 28, 2017). Buhari’s social welfare programme: So far, not so good. https://www.vanguardngr.com/2017/05/buharis-social-welfare-programme-far-not-good/
Wagle, U. R. (2016). How Much do Social Protection Matter to Poverty and Inequality? An Insight from Asian Experiences. https://doi.org/10.1177/1468018116675496
World Bank (2021). The World Bank in Nigeria. Last Updated: Oct 11, 2021, retrieved on May 19, 2022 from https://www.worldbank.org/en/country/nigeria/overview
World Bank report (2022). Nigeria Poverty Assessment 2022: A Better future for all Nigerians. Published March 22, 2022, retrieved April 11, 2022 from https://www.worldbank.org/en/news/press-release/2022/03/21/afw-deep-structural-reforms-guided-by-evidence-are-urgently-needed-to-lift-millions-of-nigerians-out-of-poverty.
Zhao, L., & He, X. (2021). Lessons from China on Different Approaches to Pension Coverage Extension. International Social Security Review, 74 (1), 5-34. https://doi.org/10.1111/issr.12255
Borchert, Donald M. (2006). Intrinsic Value. Macmillan Encyclopedia of Philosophy, 2nd Edition. Macmillan.
Bramble, B. (2016). Welfarism. Forthcoming in International Encyclopedia of Ethics (ed. Hugh LaFollette). https://philarchive.org/archive/BRAW-8Amin, S. (1996). Economic, social and political distortions in the modern world. Third World Forum Amsterdam, August 22, 1996.
Bramble, B. (2021). Welfarism. The International Encyclopedia of Ethics, 2nd print edition. New York: Wiley-Blackwell
Brearley, Emily J. (2016). A History of Social Protection in Latin America: From Conquest to Conditional Cash Transfers. Revue Interventions économiques [En ligne], 56. https://doi.org/10.4000/interventionseconomiques.2926
Brian, Abel-Smith (2022). Historical evaluation – social security. Retrieved on May18, 2022 from Britannica. https:/www.britannica.com
Brown, C., Ravallion, M., & Walle, D. (2016). A Poor Means Test? : Econometric Targeting in Africa. World Bank Group, Policy Research Working Paper 7915.
Conway, T., de Haan, A., & Norton, A. (Eds) (2000). Social Protection: New Directions of Donor Agencies. London: Department for International Development.
Crisp, R. (2017). Well-Being: 5.1 Welfarism. The Stanford Encyclopedia of Philosophy. Metaphysics Research Lab, Stanford University. Retrieved 13 September 2021.
Dode Robert Oghenedoro (2010). Yar’adua 7-Point Agenda, the Mdgs and Sustainable Development in Nigeria. Global Journal of Human Social Science, 10(4).
Doshmangir, L., Bazyar, M., Rashidian, A., & Gordeev, V. S. (2021). Iran health insurance system in transition: equity concerns and steps to achieve universal health coverage. International Journal for Equity and Health. Retrieved from https://doi.org/10.1186/s12939-020-01372-4
Driver, Julia, (2014). The History of Utilitarianism. The Stanford Encyclopedia of Philosophy (Winter 2014 Edition), Edward N. Zalta (ed.), https://plato.stanford.edu/archives/win2014/entries/utilitarianism-history.
Duignan, B. (2000). Utilitarianism (revised). Encyclopædia Britannica. Retrieved 5 July 2020.
ECLAC (Economic Commission for Latin America and the Caribbean) (2016). Inclusive social development: The next generation of policies for overcoming poverty and reducing inequality in Latin America and the Caribbean (LC.L/4056/Rev.1), Santiago, January
Gross, T., Layton, T., & Prinz, D. (2020). The Liquidity Sensitivity of Healthcare Consumption: Evidence from Social Security Payments. NBER Working Paper 27977
Heclo, H. (1974). Modern social politics in Britain and Sweden: From relief to income maintenance. Yale University Press.
High-level Advisory Board on Economic and Social Affairs (2020). Recovering better: economic and social challenges and opportunities. A compilation of the High-level Advisory Board on Economic and Social Affairs Published by the United Nations, Department of Economic and Social Affairs New York, New York 10017, United States of America
Holmes, R., & Jones, N. (2009). Putting the social back into social protection. A framework for understanding the linkages between economic and social risks for poverty reduction. Overseas Development Institute
Holmes, R., Akinrimisi, B., Morgan, J., & Buck, R. (2012). Social protection in Nigeria: Mapping programmes and their effectiveness. Overseas Development Institute
Holtug, N. (2003). Welfarism – The Very Idea. Utilitas. 15 (2), 151. 151. doi:10.1017/s0953820800003927.
Honderich, Ted (2005). good-in-itself. The Oxford Companion to Philosophy. Oxford University Press.
Huang G & Cai Z. (2021). Understanding Social Security Development: Lessons From the Chinese Case. SAGE Open. 1-13, July 2021. doi:10.1177/21582440211032633
Kalusopa, T. (2012). Social protection scheme in Africa. 11(1), 18. Retrieved on May 18, 2022 from https://www.ituc-africa.org
Kerr, C., Dunlop, J., Harbison, F., & Myers, C. (1960). Industrialism and industrial man. Oxford University Press.
Kuhlmann, J., & Nullmeier, F. (2021). A mechanism-based approach to the comparison of national pension systems in Vietnam and Sri Lanka. Retrieved from https://doi.org/10.1111/spol.12691
Leeuwen, Marco H. D. van (1994). Logic of Charity: Poor Relief in Preindustrial Europe. The Journal of Interdisciplinary History. 24 (4), 589-613. (Spring, 1994). https://doi.org/10.2307/205627, https://www.jstor.org/stable/205627
Merrien, François-Xavier (2013). Social Protection as Development Policy: A New International Agenda for Action. Open edition journal, 89-106. https://doi.org/10.4000/poldev.1525
Myles, J., & Quadagno, J. (2002). Political theories of the welfare state. Social Service Review, 3, 34–57.
National Planning Commission (2004). National economic empowerment and development strategy 33, as cited in Anifalaje, • K. (2017). Implementation of the right to social security in Nigeria. African Human Rights Law Journal Volume 17(2), Pretoria 2017. http://dx.doi.org/10.17159/1996-2096/2017/v17n2a4
National Planning Commission (2004). NIGERIA: National Economic Empowerment and Development Strategy (NEEDS). NEEDS@Nigerianeconomy.com, National Planning Commission, Federal Secretariat, Abuja. Retrieve on May 24, 2022 from https://www.cbn.gov.ng/out/publications/communique/guidelines/rd/2004/needs.pdf.
Nigerian National Planning Commission (2004). Meeting Everyone’s Needs: National Economic Empowerment and Development Strategy. Nigerian National Planning Commission Abuja 2004. Retrieve on May 28, 2022 from https://www.imf.org/external/pubs/ft/scr/2005/cr05433.pdf
Oke, L. Oluwasuji, C. O., Simon-Oke, O. O., (2011). Millennium Development Goals {MDGs} and the Yar'adua's Seven Point Agenda in Nigeria: Prospects and Challenges. An International Multi-Disciplinary Journal, Ethiopia 5 (1), 57-72, Serial No. 18, January, 2011.
Onah, Roseline C., & Olise, Charles, N., (2019). National Social Investment Programme (NSIP) and Sustainable Poverty Reduction in Nigeria: Challenges and Prospects. OSR Journal of Humanities and Social Science (IOSR-JHSS), 24(10), Series. 11, 2279-0845. Available from: https://www.researchgate.net/publication/339484903_National_Social_Investment_Programme_NSIP_and_Sustainable_Poverty_Reduction_in_Nigeria_Challenges_and_Prospects [accessed May 28 2022].
Osabohien, R., Matthew, O., Ohalete, P., & Osabuohien, E. (2020). Population–Poverty–Inequality Nexus and Social Protection in Africa. Social Indicators Research 151, 575–598. Retrieved from https://doi.org/10.1007/s11205-020-02381-0
Popa, A. F., Jimon, S. A., David, D., & Sahlian, D. N. (2021). Influence of Fiscal Policies and Labour Market Characteristics on Sustainable Social Insurance Budgets- Emprical Evidence Central and Eastern European Countries. Sustainability, 13(11):14
Pryor, F. (1968). Public expenditures in communist and capitalist nations. Irwin.
Rimlinger, G. (1971). Welfare policy and industrialization in America, Germany and Russia. Wiley.
Shiferaw, A., Bedi, A. S., Söderbom, M., & Alemu, G. (2017). Social Insurance Reform and Labor Market Outcomes in Sub-Saharan Africa: Evidence from Ethiopia. IZA DP No. 10903
Sinnott-Armstrong, W. (2021). Consequentialism: 3. What is Good? Hedonistic vs. Pluralistic Consequentialisms. The Stanford Encyclopedia of Philosophy. Metaphysics Research Lab, Stanford University. Retrieved 18 September 2021.
Stiftung, Friedrich Ebert (2018). Social protection in Nigeria. Printed by Frankade@08062367774, First Published 2018. Retrieved on May 19, 2022 from http://library.fes.de/pdf-files/bueros/nigeria/15963.pdf
Vanguard (May 28, 2017). Buhari’s social welfare programme: So far, not so good. https://www.vanguardngr.com/2017/05/buharis-social-welfare-programme-far-not-good/
Wagle, U. R. (2016). How Much do Social Protection Matter to Poverty and Inequality? An Insight from Asian Experiences. https://doi.org/10.1177/1468018116675496
World Bank (2021). The World Bank in Nigeria. Last Updated: Oct 11, 2021, retrieved on May 19, 2022 from https://www.worldbank.org/en/country/nigeria/overview
World Bank report (2022). Nigeria Poverty Assessment 2022: A Better future for all Nigerians. Published March 22, 2022, retrieved April 11, 2022 from https://www.worldbank.org/en/news/press-release/2022/03/21/afw-deep-structural-reforms-guided-by-evidence-are-urgently-needed-to-lift-millions-of-nigerians-out-of-poverty.
Zhao, L., & He, X. (2021). Lessons from China on Different Approaches to Pension Coverage Extension. International Social Security Review, 74 (1), 5-34. https://doi.org/10.1111/issr.12255
Published
2023-03-21
How to Cite
SHOGUNRO, A., OLANIYAN, S., UDOBI-OWOLOJA, P. I., & BABALOLA, D. (2023). An Assessment of Social Insurance As A Strategy for Enhancing Social Protection Effectiveness in Nigeria. Global Journal of Accounting, 8(2), 1-15. Retrieved from http://gja.unilag.edu.ng/article/view/1706
Section
Articles
