By Victor Ahiuma-Young

Abuja: The Nigeria Social Insurance Trust Fund, NSITF, has declared that protecting workers and promoting enterprise competitiveness are critical to Nigeria’s economic revival, urging stronger collaboration among government, employers and workers to achieve sustainable and inclusive growth.
Managing Director and Chief Executive of NSITF, Oluwaseun Faleye, made the call in Abuja while delivering a goodwill message at the 5th Annual Summit of the Nigeria Employers’ Consultative Association, NECA.

Speaking on the summit’s theme, “Leveraging Reforms and ESG for Enterprise Competitiveness and Inclusive National Growth,” Faleye described it as timely, noting that businesses across the country are adjusting to sweeping economic reforms and seeking innovative ways to remain competitive.

He stressed that national development can only be achieved through partnership, citing the Nigerian proverb: “The left hand washes the right, and the right hand washes the left. Government, employers and workers each have a role to play, and when we work together with trust and shared purpose, everyone benefits,” he said.

Faleye maintained that worker protection and business success are mutually reinforcing, arguing that a safe, protected and confident workforce is more productive, resilient and better positioned to drive economic growth.

According to him, businesses that invest in the welfare of their employees are more likely to build stronger and more sustainable institutions capable of withstanding economic challenges.

The NSITF boss also highlighted the Employees’ Compensation Scheme as a key pillar of Nigeria’s social protection framework, saying it not only provides support for workers who suffer workplace injuries or occupational hazards but also gives employers the confidence to operate within a fair and predictable system.

“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.

Faleye commended NECA for sustaining the annual summit as a platform for dialogue among policymakers, business leaders and labour stakeholders, expressing optimism that this year’s discussions would produce practical recommendations to strengthen enterprise competitiveness and accelerate national development.