NSITF Boss Pushes Alliance to Protect Workers, Drive Economic Growth

..... As Oluwaseun Faleye, MD NSITF calls for stronger collaboration among government, employers and workers to ensure sustainable economic growth, improved enterprise competitiveness and enhanced protection for Nigerian workers.

The Managing Director and Chief Executive Officer of the Nigeria Social Insurance Trust Fund (NSITF), Barr. Oluwaseun Faleye, has called for stronger collaboration among government, employers and workers to ensure sustainable economic growth, improved enterprise competitiveness and enhanced protection for Nigerian workers.

Faleye made the call on Monday in Abuja while delivering a goodwill message at the 5th Annual Summit of the Nigeria Employers' Consultative Association (NECA), where he stressed that partnership among key stakeholders is essential to achieving inclusive national development amid ongoing economic reforms.

Speaking on the summit's theme, "Leveraging Reforms and ESG for Enterprise Competitiveness and Inclusive National Growth," the NSITF boss described the theme as apt, noting that businesses are navigating a rapidly changing economic landscape driven by policy reforms and rising expectations around environmental, social and governance (ESG) standards.

He said government, employers and workers must work in synergy to build a resilient economy, stressing that collective action remains the surest path to shared prosperity.

Drawing from a Nigerian proverb, Faleye said, "The left hand washes the right, and the right hand washes the left," adding that when stakeholders collaborate with trust and a shared purpose, both businesses and workers stand to benefit.

According to him, worker protection and enterprise competitiveness are complementary, noting that organisations with safe, protected and motivated employees are better positioned to achieve higher productivity, resilience and long-term sustainability.

Faleye identified the Employees' Compensation Scheme as a critical component of Nigeria's social protection framework, saying it safeguards workers while providing employers with the confidence to operate in a fair and predictable environment.

"As Nigeria pursues economic reforms, we must remain deliberate in ensuring that growth is inclusive and that no segment of our workforce is left behind," he said.

The NSITF chief also commended NECA for sustaining the annual summit, expressing confidence that deliberations at the two-day event would produce practical recommendations to strengthen enterprise competitiveness and support Nigeria's economic transformation.

The NECA Annual Summit brings together policymakers, private sector leaders and labour stakeholders to deliberate on strategies for improving the country's business environment and fostering sustainable economic development.