The Managing Director and Chief Executive Officer of the Nigeria Social Insurance Trust Fund (NSITF), Barr. Oluwaseun Faleye has warned against leaving Nigerian workers behind as the country pursues economic reforms.
Faleye, who gave this warning on Monday in Abuja while delivering a goodwill message at the 5th Annual Summit of the Nigeria Employers’ Consultative Association (NECA), insisted that growth must be inclusive and socially responsible.
Speaking on the theme “Leveraging Reforms and ESG for Enterprise Competitiveness and Inclusive National Growth,” the NSITF boss described the focus of the gathering as timely as businesses adjust to emerging policy and economic realities.
He said, “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.”
Faleye noted that businesses across the country were already responding to policy changes and evolving market conditions.
“Across the country, businesses are adapting to reforms, responding to new realities and seeking innovative ways to remain competitive while creating value for Society.”
He stressed that government, employers and workers must work together to achieve lasting progress, citing a popular Nigerian proverb to underscore the importance of partnership.
“Government, employers and workers each have a role to play, and when we work together with trust and shared purpose, everyone benefits.”
Faleye maintained that worker protection and enterprise competitiveness are mutually reinforcing objectives, arguing that a protected workforce is essential for productivity and resilience.
He said a safe, protected and confident workforce is more productive and resilient, while businesses that invest in employee wellbeing build stronger and more sustainable institutions.
The NSITF Managing Director also described the Employees’ Compensation Scheme as a critical pillar of social protection, noting that it supports workers and gives employers “confidence to operate within a fair and predictable framework.”
Commending NECA for sustaining the annual platform for dialogue among key stakeholders, Faleye expressed confidence that the two-day summit would “Generate practical ideas that will strengthen enterprise competitiveness and contribute meaningfully to our national development.”
The NECA Summit is an annual gathering of private sector leaders, policymakers and labour stakeholders to discuss issues shaping Nigeria’s business and economic environment.