Nigerian Stakeholders Unite to Strengthen Social Security

Report by Naijajistreal96.com.ng

Mr. Oluwaseun Faleye, MD of NSITF

Mr. Faleye addressing stakeholders at the social security forum

Nigeria’s social protection landscape is entering a transformative phase as key stakeholders from government, labour unions, and employers rally together to strengthen social security for millions of workers.

NSITF’s New Direction

Speaking at a recent stakeholders’ retreat, the Managing Director of the Nigeria Social Insurance Trust Fund (NSITF), Mr. Oluwaseun Faleye, reaffirmed his commitment to reposition the agency into Nigeria’s apex social security institution.

According to Faleye, the agency is focusing on organizational restructuring, transparent governance, and enhanced stakeholder engagement to improve the quality of service delivery for Nigerian workers.

Collaborative Engagements

Mr. Faleye noted that NSITF has strengthened collaboration with the Nigeria Employers’ Consultative Association (NECA), the Nigeria Labour Congress (NLC), and the Trade Union Congress (TUC) to ensure smooth implementation of the Employees Compensation Scheme (ECS) across public and private sectors.

Expanding Coverage

He also announced plans to extend social security to the informal sector, ensuring SMEs and self-employed workers can access critical benefits.

The Road Ahead

Looking forward, NSITF aims to:

• Promote the Occupational Safety & Health Bill.
• Increase awareness campaigns for ECS compliance.
• Expand its social security programs to informal workers.

Mr. Faleye assured stakeholders that these reforms will pave the way for a more inclusive and sustainable social security system in Nigeria.

Reported by Naijajistreal96.com.ng