Work Risk Exposure and Vulnerability of Informal Workers in Ikorodu West Area of Lagos: The Need for Adequate Risk Management and Control Measures
Keywords:
Informal Workers, Informal Economy Risk, Risk Management, Social Protection, VulnerabiliyAbstract
Informal economy workers often face more significant risks, mainly reflecting their working and living conditions. Assessing these risks is essential to appreciating the high costs to individuals and society for ignoring them, thus making a case for investing in the protection of informal economy workers, and identifying appropriate policy frameworksneeded in this regard. Assessing the adequacy and effectiveness of risk management measures taken towards work-related risks and vulnerability that the informal economy workers are exposed to is the aim of this paper. The study made use of purposive sampling techniques to collect data using questionnaires.Multiple linear regression model was used to analyze the data. The study finding showed that, informal economy workers in Nigeria suffer high work-related risks and vulnerability.The study findings also showedthat risk management measures that are meant to reduce in-work and vulnerability risks are not sufficiently applied to the informal workers, thus leading to feeling of ill-treatment and neglect. The study recommended that the contributory social protection schemes coverage such as social insurance and social assistance be extended to the informal economy workers in Nigeria.
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