The Nigeria Social Insurance Trust Fund (NSITF) has disbursed more than N1.1bn in compensation to workers and families affected by workplace injuries, accidents, and occupational diseases, reaffirming its commitment to strengthening social protection across Nigeria’s formal and informal sectors.
The payments—comprising lump-sum settlements and ongoing monthly benefits under the Employees’ Compensation Scheme (ECS)—underscore the Fund’s efforts to provide timely support to affected workers and dependants.
Speaking at the Lagos International Trade Fair, NSITF Managing Director/Chief Executive, Oluwaseun Faleye, said the Fund’s interventions reflect its theme of “Strength in Support.”
“This is a reaffirmation of our collective commitment to a principle that transforms lives,” she said. “At NSITF, support is active, deliberate, and deeply human.”
Faleye highlighted several notable cases, including over N42m paid to the family of a Depthwize Oil & Gas employee who died in a boat mishap, with more than N2m in monthly benefits to continue until the youngest child turns 21. Families of employees at Mobil Producing Nigeria Plc and Nigerian Breweries Plc have also received tens of millions of naira, with sustained monthly payments until dependants reach adulthood.
Additionally, more than N484m has been paid to 39 Nigeria Customs Service employees, while staff of Shell Exploration and Production, Zenith Bank, Unity Bank, Medplus, Nestlé Nigeria Plc, Planned Parenthood Federation of Nigeria, and Indigo Drilling have all benefitted from various compensation claims.
Explaining the purpose of the ECS, Faleye noted that it protects workers from injuries, disease, or death occurring in the course of employment. She described the scheme as a tripartite alliance involving employers who comply and contribute, employees whose welfare is central, and the government, which provides legal backing and oversight.
“Compensation is not charity; it is justice, empowerment, and nation-building,” she said. “A society that protects its workers is a society that prospers.”
President of the Lagos Chamber of Commerce & Industry (LCCI), Gabriel Idahosa, also commended NSITF for its expanding impact. He stated that the Fund’s recent disbursement of over N6.6bn to more than 103,000 beneficiaries illustrates its role in enhancing productivity across the business landscape.
NSITF currently covers more than 183,000 employers and 7.6 million employees nationwide. Idahosa noted that the Fund is intensifying efforts to reach informal sector workers, citing sensitisation drives in Anambra State aimed at bringing artisans, traders, transporters, and small businesses into the national social security net.
“Social protection must extend beyond offices; it must reach every worker contributing to Nigeria’s productive strength,” he said.
He described the Lagos International Trade Fair as a convergence point for industry, skills, manufacturing, and protection.
“When workers operate in safety, value creation accelerates, investments deepen, and trade flourishes,” he remarked.
Idahosa added that NSITF aims to onboard more than one million new subscribers annually as part of its expansion strategy. He urged business leaders and policymakers to embrace social security compliance as a pathway to stronger businesses and a more resilient workforce.
“Let us continue strengthening the bond between protection and production, between coverage and commerce,” he said.
