Nigeria risks economic setback without protected workforce — NSITF

By Henry Ojelu

The Nigeria Social Insurance Trust Fund, NSITF, on Wednesday took its campaign for stronger workplace protection to the 2025 Nigeria International Trade Fair, Lagos, declaring that Nigeria’s economic transformation depends on safeguarding its workforce.

Managing Director of the Fund, Oluwaseun Faleye, represented by Agboma Okoroafor, Regional Manager, NSITF Lagos Mainland, made the call during the NSITF Special Day held at the Energo Hall of the Trade Fair Complex, Badagry, Lagos.

Faleye said the platform, recognised as Africa’s largest convergence of commerce and innovation, had come at a critical moment when technology, trade and institutional reforms were reshaping Nigeria’s path to growth.

He linked this year’s theme—“Trade, Technology and Transformation: Leveraging Digital Trade for Economic and Industrial Growth”—to the Federal Government’s ongoing agenda to modernise institutions, digitise services and strengthen the business environment under President Bola Tinubu.

He stated that the Fund’s core mandate remains securing the Nigerian worker, supporting employers and boosting productivity through the Employees’ Compensation Scheme.

According to him, the NSITF had, over the past year, deepened reforms aimed at improving transparency in claims processing, enforcing compliance nationwide, expanding digital channels for reporting workplace incidents and increasing engagement with micro, small and medium enterprises.

Faleye explained that the Lagos region continued to be one of the most active pillars of this transformation, with thousands of employers already onboarded on technology-driven platforms that simplify claims and encourage preventive workplace practices.

He stressed that NSITF was no longer simply a fund that pays compensation but a partner in business resilience.

“When workers are safe, businesses thrive. When businesses thrive, the economy grows. And when the economy grows, Nigeria wins,” he said.

He urged manufacturers, traders, innovators and investors at the Fair to view the NSITF as an essential ally in sustaining enterprise stability.

He also encouraged visitors to engage with officials at the Fund’s pavilion to understand how its schemes support employers, enhance workplace safety and contribute to national competitiveness.

Also speaking at the event, the Executive Director of the Nigeria International Trade Fair Management Board, Veronica Ndunusa, warned that Nigeria cannot achieve meaningful national productivity when employers continue to disregard workplace safety laws.

Ndunusa said the Board had encountered several cases in which employees injured on the job were given minimal or token compensation, leaving families to shoulder medical bills running into millions of naira.

She described the pattern as a “silent crisis” that often leads to avoidable fatalities.

According to her, many employers—particularly in the private sector—operate without adequate safety structures despite clear statutory requirements.

She insisted that compliance with labour protection laws was not optional and urged employers to take advantage of the safety nets provided through the NSITF, including medical care, rehabilitation and compensation for workplace injuries and disabilities.

Ndunusa said the NSITF Special Day offered a rare opportunity for stakeholders to understand the services of the Fund and how they contribute to enterprise stability and national economic growth.

She reiterated that national productivity cannot rise in the face of poor workplace culture, inadequate safety practices and disregard for workers’ welfare.

She added that a protected workforce translates to a more productive business environment and a stronger national economy.

Ndunusa also commended the NSITF for its progress in gender inclusion, noting the presence of women in key management positions, which she said was a positive signal for institutional development and good corporate governance.

She urged the Fund to continue strengthening its programmes as more industries adopt digital and technology-driven processes.

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