– nearly 80,000 contributors added over five years amid job creation
SENIOR Minister within the Office of the President with Responsibility for Finance, Dr Ashni Singh, says the National Insurance Scheme (NIS) has expanded its contributor base by nearly 80,000 persons over the past five years, reflecting the significant growth in employment and economic activity across Guyana.
He made this known during the NIS’ 57th Anniversary General Meeting, during which he said Guyana has been experiencing an extended period of “extraordinary economic growth and expansion”, with the expansion also reflected in the number of persons contributing to the social security scheme.
He noted that the economy grew by 33.3 per cent in the first half of 2026 and is projected to record growth of 20.8 per cent for the full year.
“These are extraordinary rates of economic growth, and a lot of that growth, of course, is driven by what is taking place in the oil and gas industry,” Dr Singh said.
However, he stressed that economic expansion was not confined to the oil sector, noting that the non-oil economy also grew and, as such, pointed to the continued growth across a range of sectors, including mining, agriculture, services, construction, tourism, health, education and financial services.
According to Dr Singh, the economic expansion has also been accompanied by significant job creation.
He said that between the end of 2020 and the end of 2025, the Guyanese economy created no less than 156,000 new jobs and, with that expansion, there has been a corresponding impact on the NIS.
“We see corresponding developments in the expansion in the National Insurance Scheme because the NIS has itself grown its contributor base very, very dramatically,” Dr Singh said.
He said the scheme added nearly 80,000 persons to its contributor base over the five-year period, representing growth of more than 40 per cent.
“The scheme has grown its contributor base by nearly 80,000 contributors, or 41 per cent,” he said, noting that the figure reflects both employed and self-employed persons.
Dr Singh commended the NIS management and staff for responding to the expansion in the number of businesses operating in Guyana and the growing number of employed and self-employed persons.
“I want to commend this team for the manner in which it has responded to the expansion in the number of businesses that are operating in Guyana, the number of persons who are working either as employed or self-employed persons, and the manner in which the scheme has, of course, absorbed these persons and is now providing important services for them,” he said.
Despite the growth, Dr Singh noted that there are still persons working who are not currently contributing to the NIS.
Against this backdrop, he noted that employers have a legal obligation to register their employees and pay contributions on their behalf, while workers also have a personal interest in ensuring they are properly registered and that their contributions are being paid.
To this end, the finance minister said the continued expansion of the economy will require institutions such as the NIS to adapt to changing circumstances if they are to remain relevant and continue to serve the population effectively.
