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….Describes protected, productive workforce as driver of economic growth.
The Nigerian Social Insurance Trust Fund (NSITF) has urged b hiusinesses to prioritise workers’ welfare and workplace safety, describing a protected and productive workforce as a critical driver of business success and sustainable economic growth.
The Managing Director of NSITF, Oluwaseun Faleye, made the call at the Fund’s Special Day during the 40th Lagos International Trade Fair, where he highlighted the importance of the Employees’ Compensation Scheme (ECS) in protecting workers against occupational risks.
Speaking on the theme, “The Employee at the Centre of Growth, Secured by the Employee’ Compensation Scheme,” Faleye said the success of every business depended largely on the knowledge, commitment and contributions of its workforce.
He noted that every product manufactured, service delivered, transaction concluded and innovation introduced depended on employees, stressing that they remained the driving force behind enterprise and economic progress.
“As we celebrate the achievements of enterprise, we must also recognise a fundamental truth: behind every successful business is a workforce whose contributions make that success possible,” he said.
According to him, economic growth can only be meaningful and sustainable when the people who drive it are protected, valued and supported.
“A business may have capital, technology, infrastructure and an ambitious vision, but without a healthy, secure and productive workforce, its capacity to grow is limited,” he said.
Faleye explained that protecting workers was not separate from building successful businesses but an investment in productivity, business continuity, industrial harmony and sustainable national development.
He said this principle underpinned the Employees’ Compensation Scheme, administered by the NSITF under the Employees’ Compensation Act, 2010.
The scheme provides compensation and support to employees who suffer work-related injuries, occupational diseases, disabilities or death, with benefits extended to eligible dependants where applicable.
He added that the Fund’s responsibility extended beyond compensation payments to preventing workplace accidents and occupational diseases through safety inspections, risk assessments, accident investigations and sensitisation programmes.
“Our conviction is that no worker should have to suffer an injury before the importance of workplace safety is recognised,” he said.
Faleye urged traders, artisans, small-business owners, market operators, transport operators and other entrepreneurs to embrace the scheme, noting that workers in the informal sector were equally exposed to occupational risks.
He explained that the scheme provides medical treatment, compensation for temporary or permanent disability, rehabilitation and vocational support, as well as benefits for eligible dependants in cases of work-related death.
He particularly clarified that the one per cent contribution required under the law was the responsibility of employers and must be calculated based on their total monthly payroll.
“The cost of this protection is not deducted from your salary. The law places the responsibility for the one per cent contribution on the employer. The employee should not be asked to pay this contribution,” he said.
Addressing small-business owners, Faleye stressed that the responsibility to protect workers remained applicable regardless of the size or nature of an enterprise.
“If you employ people, their safety and welfare matter, and the statutory obligations under the Employees’ Compensation Act remain relevant,” he said.
He disclosed that employers could register through the NSITF Employer Self-Service Portal at ecsonline.nsitf.gov.ng or visit any of its offices nationwide for assistance.
The NSITF boss disclosed that the Fund registered 2,133 new micro, small and medium-sized enterprises (MSMEs) between January and September 2026 as part of efforts to extend social protection to more businesses and workers.
He said the initiative was particularly important given that informal employment accounted for approximately 93 per cent of total employment in Nigeria, according to the National Bureau of Statistics’ 2024 Labour Force Survey.
Faleye observed that despite the significant contribution of the informal sector to the economy, many workers remained outside conventional social protection arrangements due to inadequate awareness and limited understanding of the benefits available under the scheme.
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He said the Fund was therefore intensifying engagement with markets, workshops, trade associations and business clusters to bridge the awareness gap and expand coverage.
“Our ambition is to ensure that the benefits of social protection are not confined to large corporations and established institutions, but increasingly reach smaller enterprises and workers who are often more exposed to economic and occupational vulnerabilities,” he said.
Providing an update on the scheme’s performance since its commencement in July 2011, Faleye said the Fund had registered 214,519 employers and covered 8,005,027 employees across the public and private sectors. It had also integrated 73 Ministries, Departments and Agencies into the scheme.
He disclosed that 21,937 employers were registered and 160,971 employees covered in 2025, while between January and October 2026, an additional 17,435 employers were registered and 250,144 employees brought under coverage.
According to him, the number of employees covered within the first ten months of 2026 had already exceeded the total recorded for the whole of 2025.
He added that the Fund had improved its claims administration turnaround time to 14 days, while its workplace safety audits and inspections currently covered 2,848 workplaces.
The NSITF was also sustaining workplace wellness and emergency preparedness interventions, including hypertension screening, blood pressure checks, first-aid awareness and public health sensitisation.
Faleye urged employers to regard compliance with the Employees’ Compensation Act as an investment rather than a regulatory burden, noting that safer workplaces protect lives, reduce operational disruptions, improve employee morale and enhance productivity.
“To our employers and business leaders, whether you operate a large corporation or a small enterprise, I urge you to see compliance not as a burden but as an investment in the people who sustain your business,” he said.
In his remarks, the President of the Lagos Chamber of Commerce and Industry (LCCI), Leye Kupoluyi, commended the NSITF for its contribution to strengthening Nigeria’s social protection system and safeguarding workers’ welfare.
Kupoluyi said sustainable economic growth required more than capital investment, trade expansion and business development, as it also depended on a healthy, protected and productive workforce.
“Employees are central to enterprise performance, and their safety and welfare are essential to sustaining productivity and business continuity,” he said.
He noted that workplace accidents and occupational diseases could disrupt production, increase operating costs and expose employees and their families to financial hardship.
He therefore described workforce protection as not merely a social responsibility but an investment in enterprise sustainability and economic competitiveness.
The LCCI president urged the NSITF to sustain its reforms by simplifying registration and compliance processes, strengthening digital service delivery, ensuring timely compensation and deepening public awareness.
He also called on businesses to fulfil their statutory obligations and invest consistently in workplace health and safety, stressing that “prevention must remain as important as compensation.”
Kupoluyi reaffirmed the chamber’s commitment to stronger collaboration with social protection institutions to promote employer awareness, support MSME compliance and encourage safer workplaces across Nigeria’s productive sectors.
He said a successful economy must not only support thriving enterprises but also protect the people whose efforts sustain them.
