Social security: New era for workers’ protection as Tinubu backs rebranded NSITF

By Victor Ahiuma-Young

President Bola Tinubu has endorsed the reforms at the Nigeria Social Insurance Trust Fund, NSITF, describing it as the “New NSITF” in recognition of the strides made under the leadership of Managing Director Barrister Oluwaseun Faleye to reposition the Fund for better service to Nigerian workers.

Represented by Vice President Kashim Shettima at the olo National Manpower Summit on Tuesday at the La State House Banquet Hall, Presidential Villa, Abuja, the President stopped by the NSITF exhibition stand and expressed strong approval of its renewed focus.

“NSITF is back, stronger and better,” Tinubu declared through the Vice President, commending the Faleye-led management for its bold reforms and enhanced commitment to social protection.

The summit drew members of the National Assembly, senior ministers, and top government officials, including Dr. Muhammad Dingyadi, Minister of Labour and Employment; Ayodele Olawande, Minister of Youth Development; Dr. Jumoke Oluwole, Minister of Industry, Trade and Investment; John Owen Enoh, Minister of State for Industry, Trade and Investment; the Permanent Secretary, Ambassador Mura Baba Rimi; the Senior Special Assistant to the President on Industrial Training and Development, Hon. Adamson Oluwatosin Ayinde; and Festus Osifo, President of the Trade Union Congress of Nigeria, TUC.

Addressing the plenary, Faleye described social protection as “a catalyst for a stable and fair labour market.”

“I urge every policymaker, employer and stakeholder here to see workplace compensation and social protection not as a cost, but as a catalyst — one that enables a stable, fair and forward-looking labour market,” he said.

He emphasised that the summit was not just about jobs and skills but about shaping the future of Nigeria’s workforce.

“We are not just gathered to talk about jobs and skills, but to look deeply into the kind of future we are building for our workforce,” Faleye said.

Future-ready manpower framework

The NSITF Managing Director noted that Nigeria is undergoing an industrial transformation and stands at a pivotal stage in its development, with a vibrant youth population as a major advantage. He called for the deployment of the right people, skills, and strategies to build globally competitive industries, anchored on a comprehensive manpower framework.

“A well-structured manpower framework is not just a bureaucratic document. It is a roadmap for our educational institutions, our training centres, our employers and our workforce. It should align with market demands, anticipate future trends in automation, digitization and green jobs, and ensure no Nigerian is left behind — whether in urban centres or rural communities,” he said.

Protection beyond paycheck

Faleye stressed that the success of any manpower policy depends on comprehensive social protection for workers, such as that offered by the Fund’s Employee Compensation Scheme, ECS.

“Beyond training and deployment, such policy must also protect,” he argued.

Highlighting the ECS, he explained: “We provide compensation to workers who suffer injuries, diseases, disabilities or even death in the course of employment. We are here to ensure that workers who give their strengths and skills to building this nation are not abandoned in times of vulnerability. We provide medical care, rehabilitation, wage replacement and support to affected families.”

He concluded that the ECS is not an act of charity but “justice” — ensuring that every worker’s contribution to nation-building is protected and honoured.

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