At the buzzing 2025 Nigeria International Trade Fair in Lagos, the Nigeria Social Insurance Trust Fund (NSITF) sounded a loud and clear warning: Nigeria cannot achieve true economic transformation if its workforce remains unprotected.
Speaking during the NSITF Special Day at the Energo Hall, Managing Director Oluwaseun Faleye—represented by Regional Manager Agboma Okoroafor—told business leaders, innovators, traders, and investors that safeguarding workers is not just a legal requirement but a national economic strategy.
Why Workforce Protection Matters Now More Than Ever
Faleye noted that this year’s Trade Fair theme — “Trade, Technology and Transformation: Leveraging Digital Trade for Economic and Industrial Growth” — perfectly aligns with the Federal Government’s push to digitise services, reform institutions, and strengthen the business environment under President Bola Tinubu.
According to him, the NSITF’s core mission is simple but powerful:
- – Protect the Nigerian worker.
– Support employers.
– Boost productivity nationwide.
Through the Employees’ Compensation Scheme (ECS), the Fund has scaled up transparency, digital reporting, and nationwide compliance enforcement. Thousands of employers—especially across Lagos—are already benefiting from new tech-driven platforms that make claims easier and workplace safety more proactive.
Faleye emphasized, “When workers are safe, businesses thrive. When businesses thrive, the economy grows. And when the economy grows, Nigeria wins.”
The message? NSITF is not just a compensation fund — it’s a partner in business resilience.
A Silent Crisis: Unsafe Workplaces Are Holding Nigeria Back
In a powerful contribution, Veronica Ndunusa, Executive Director of the Nigeria International Trade Fair Management Board, warned that Nigeria cannot achieve meaningful productivity when employers ignore safety laws.
She revealed troubling cases where injured workers received token compensation, leaving families with medical burdens worth millions — a pattern she described as a “silent crisis.”
Her call to action was firm:
- Employers must comply with labour protection laws.
- Safety structures must be built, not ignored.
- The NSITF’s support system — from medical care to rehabilitation to compensation — must be fully utilised.
Ndunusa also noted that poor workplace culture, inadequate safety practices, and disregard for workers’ welfare continue to limit national productivity. A protected workforce, she said, is the foundation of a strong economy.
Progress, Inclusion & the Future of Work
Ndunusa applauded the NSITF for progress in gender inclusion, highlighting the presence of women in key leadership roles — a positive sign for strong corporate governance and institutional growth.
Both speakers encouraged businesses, manufacturers, and innovators to engage with NSITF teams at the Trade Fair pavilion to learn how the Fund’s services can strengthen workplace safety and boost competitiveness in a digital-first economy.
