The Organised Private Sector of Nigeria (OPSN) has strongly rejected the proposed amendment to the Nigeria Social Insurance Trust Fund (NSITF) Act, describing the move by the Senate as a dangerous attempt to hijack and politicise the management of workers’ social protection funds.
In a joint statement issued by the OPSN — which comprises the Manufacturers Association of Nigeria (MAN), the Nigeria Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), the Nigeria Employers’ Consultative Association (NECA), the Nigeria Association of Small and Medium Enterprises (NASME), and the Nigeria Association of Small Scale Industrialists (NASSI) — the group expressed deep concern that the proposed amendment could undermine transparency, accountability, and the tripartite management structure currently governing the NSITF.
The OPSN argued that the NSITF, which was established to provide social insurance and compensation for employees in cases of workplace injury, disability, or death, must remain insulated from political interference to safeguard workers’ contributions and ensure the fund’s sustainability.
>We view the ongoing legislative move as a direct assault on the principle of tripartism that underpins the NSITF structure, which allows government, employers, and labour to jointly manage the fund in the interest of Nigerian workers. Any attempt to alter this balance is an attempt to politicise and compromise the integrity of the institution,” the statement read.
The group noted that the NSITF was designed to operate as a social security safety net for Nigerian workers, not as a political tool or revenue-generating agency for government purposes.
>The proposed amendment, if allowed to sail through, will open the door to political manipulation, mismanagement of workers’ funds, and erosion of stakeholders’ confidence,” OPSN warned.
The statement further urged the National Assembly to engage in wider stakeholder consultations before making any policy changes that could affect the structure or operations of the NSITF.
>Instead of tampering with the governance structure of the NSITF, efforts should focus on strengthening compliance, improving service delivery, and ensuring that the fund achieves its mandate of providing effective social insurance coverage for all employees,” the group added.
The OPSN reaffirmed its commitment to protecting the interests of Nigerian workers and employers, emphasizing that industrial harmony and social security depend on mutual trust and responsible management of institutional frameworks like the NSITF.
It also called on President Bola Tinubu to intervene and ensure that the NSITF remains professionally managed in accordance with international labour standards and best practices.
