NSITF MD, Barrister Oluwaseun Faleye
Managing Director and Chief Executive Officer of the Nigeria Social Insurance Trust Fund (NSITF), Barrister Oluwaseun Faleye, has urged government, employers and workers to work more closely together, saying Nigeria’s economic growth depends on protecting its workforce.
Faleye spoke on Monday 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,” he said the conversation comes at a time when businesses are adjusting to economic reforms and changing business conditions.
He noted that many organisations are looking for practical ways to remain competitive while creating opportunities for growth.
Using the popular Nigerian saying that “the left hand washes the right, and the right hand washes the left,” Faleye said lasting progress can only be achieved when government, employers and workers pull in the same direction.
According to him, every stakeholder has a role to play, adding that trust and cooperation are needed to achieve reforms that benefit both businesses and workers.
Faleye said protecting workers should not be separated from efforts to build stronger businesses, explaining that employees perform better when they feel safe and protected, while companies that invest in their workforce are more likely to succeed over the long term.
He also described the Employees’ Compensation Scheme as one of the Fund’s key social protection programmes, saying it provides support for workers who suffer workplace injuries or other work-related incidents while giving employers a fair and reliable compensation framework.
“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 and expressed optimism that the two-day meeting would produce practical recommendations to strengthen businesses and support Nigeria’s economic development.
The NECA Summit brings together private sector leaders, policymakers and labour stakeholders to discuss policies and emerging issues affecting Nigeria’s business environment and the economy.
