The Nigeria Social Insurance Trust Fund (NSITF) has announced the disbursement of more than ₦1.1 billion in compensation to workers and families affected by workplace accidents, injuries, and occupational diseases under the Employees’ Compensation Scheme (ECS). The Fund says the move underscores its renewed drive to strengthen social protection and expand coverage across Nigeria’s formal and informal sectors.
The disclosure was made by the Managing Director and Chief Executive of NSITF, Oluwaseun Faleye, during the Lagos International Trade Fair. Faleye said the payments reflect the organisation’s commitment to its theme of “Strength in Support.”
“Our gathering today is not just another event; it is a reaffirmation of our shared commitment to a principle that holds the power to transform lives,” he said. “Support at NSITF is not passive; it is active, deliberate, and deeply human.”
Major Compensation Highlights
Faleye said the recent disbursements include both lump-sum payments and ongoing monthly benefits for eligible beneficiaries. Key cases include:
- ₦42 million paid to the family of a Depthwize Oil & Gas employee who died in a boat accident, with monthly payments of over ₦2 million set to continue until the youngest child turns 21.
- Tens of millions of naira paid to families of deceased workers at Mobil Producing Nigeria Plc and Nigerian Breweries Plc, with recurring benefits maintained for dependants.
- More than ₦484 million distributed to 39 employees of the Nigeria Customs Service.
- Additional payouts made to workers at Shell Exploration and Production, Zenith Bank, Unity Bank, Medplus, Nestlé Nigeria Plc, Planned Parenthood Federation of Nigeria, and Indigo Drilling, among others.
Faleye reiterated that the ECS exists to protect workers from employment-related risks including injury, disease, disability, or death. The scheme, he said, operates through a tripartite structure involving employers who contribute to the fund, employees whose welfare is central, and the government which provides legal oversight.
“Benefits compensation is not charity; it is justice, empowerment, and nation-building,” she added.
Business Community Endorses NSITF’s Role
President of the Lagos Chamber of Commerce & Industry (LCCI), Gabriel Idahosa, praised the Fund for strengthening Nigeria’s business environment. He noted that NSITF has paid more than ₦6.6 billion to over 103,000 beneficiaries, contributing to workforce stability and productivity.
The Fund currently covers over 183,000 employers and 7.6 million employees, signalling deepening participation in the formal economy.
Idahosa said the organisation is also intensifying its push into the informal sector. He cited sensitisation drives in Anambra State’s industrial clusters aimed at enrolling artisans, traders, transport operators, and micro-entrepreneurs into the social security net.
“Social protection must extend beyond offices; it must reach every worker contributing to Nigeria’s productive strength,” he said.
Expanding Coverage and Strengthening the Economy
According to Idahosa, NSITF’s ambition is to enroll over one million new subscribers yearly, positioning social insurance as a foundation for business confidence, investment, and national productivity.
“When businesses operate in an environment where workers are secure, value creation accelerates, investments deepen, and trade prospers,” he said.
He urged policymakers and business leaders to align their operations with social-security principles, workforce protection, and sustainable value creation.
“Let us strengthen the bond between protection and production, between coverage and commerce,” he added.
