President Bola Tinubu has thrown his weight behind the Nigeria Social Insurance Trust Fund (NSITF), commending its transformative efforts under the leadership of Managing Director Olúwaseun Faleye to enhance social security and workplace safety for Nigerian workers. The endorsement, hailed as a milestone for the nation’s labour force, was announced during a retreat for the National Assembly Joint Committees on Labour, Employment, and Productivity in Lagos on 4 August 2025.
The Federal Government’s support comes as the NSITF, revitalised since Faleye’s appointment in July 2024, showcases a robust turnaround in its operations. Dr. Muhammad Dingyadi, Minister of Labour and Employment, praised the agency’s progress, highlighting its vigorous expansion of the Employees’ Compensation Scheme (ECS) and its commitment to prompt claims payments. “The NSITF has witnessed a positive transformation, breathing new life into occupational safety and health,” Dingyadi stated, noting the strategic importance of the agency’s reforms in expanding social security coverage and ensuring sustainability.
The retreat, themed “Building a Sustainable Future: Strengthening Social Security and Enhancing Labour Productivity in Nigeria,” underscored the collaborative efforts between the NSITF and the legislature. Faleye described the event as a testament to the Fund’s openness to work with stakeholders on critical social welfare issues. “Our nation stands at a crossroads where economic growth, youth employment, and social protection intersect,” he said, urging participants, including representatives from the Nigeria Labour Congress (NLC) and the Nigeria Employers’ Consultative Association (NECA), to treat the retreat as a working session to refine policies and strategies.
Under Faleye’s leadership, the NSITF has prioritised expanding the ECS to cover more workers, including those in the informal sector, which constitutes about 85% of Nigeria’s workforce. A landmark achievement includes enrolling the Nigerian Police Force into the scheme, marking a significant step in public sector inclusion. The Fund has also streamlined its claims processes, settling over 22,000 claims in 2024 alone, ensuring timely support for workers and their families affected by workplace injuries, disabilities, or fatalities.
Faleye’s vision extends beyond compensation, with a strong emphasis on workplace safety. The NSITF has launched nationwide awareness campaigns and training programmes in collaboration with partners like the NLC and NECA, alongside conducting risk assessments in high-risk sectors such as oil and gas, construction, and maritime. A notable example of the Fund’s impact includes a payout of N86 million to the family of a deceased Seplat Energy employee, alongside monthly support until their child turns 21, demonstrating the ECS’s role as a vital safety net.
The NSITF’s modernisation efforts, including digitising its operations, have enhanced efficiency and accessibility, aligning with global best practices. Faleye’s strategic partnerships with agencies like the National Population Commission (NPC) and the Economic and Financial Crimes Commission (EFCC) aim to leverage data and inter-agency collaboration to broaden the Fund’s reach. “This is about protecting families and upholding the dignity of labour,” Faleye remarked during a recent cheque presentation, reinforcing that compliance with the ECS is an investment in workforce welfare, not a cost.
As Nigeria navigates economic challenges, the NSITF’s rebranding and President Tinubu’s backing signal a new era for workers’ protection. With ongoing sensitisation tours targeting key industries and plans to enrol one million subscribers annually into the ECS, the Fund is poised to become a cornerstone of Nigeria’s social security framework, ensuring no worker is left behind in times of crisis.
