(i) National Housing Fund Contribution:
The National Housing Fund Act CAP LFN 2004 mandates that every Nigerian earning an income of N3,000 and above per annum in both public and private sectors is required to contribute 2.5% of their basic monthly salary to the National Housing Fund. The purpose of the fund is to provide financial support for the construction, acquisition, or improvement of residential houses across the country. Contributions are deducted directly from the employee’s salary and are remitted to the Federal Mortgage Bank of Nigeria.

(ii) Contributory Pension Scheme:
The Contributory Pension Scheme is established under the Pension Reform Act, 2014, and applies to both public and private sector employees. The scheme requires an employer to contribute 10% of the employee’s monthly emoluments (which includes basic salary, housing, and transport allowances) while the employee contributes 8% of their monthly emoluments. These contributions are remitted into the employee’s Retirement Savings Account (RSA) maintained by a Pension Fund Administrator (PFA). The purpose of the scheme is to ensure that every worker in Nigeria receives a pension benefit upon retirement.

(iii) National Health Insurance Scheme Contribution:
The National Health Insurance Scheme (NHIS) Act provides a framework for employers with a minimum of ten employees to contribute to a health insurance scheme for their workers and their dependents. The contributions are shared between the employer and the employee, with the employer paying 10% and the employee contributing 5% of the employee’s basic salary. These contributions provide employees and their dependents with access to good quality and cost-effective healthcare services.