The Nigeria Social Insurance Trust Fund (NSITF) has underscored its vital role in strengthening Nigeria’s business landscape and fostering a resilient, people-centred economy.

Managing Director/Chief Executive of NSITF, Oluwaseun Faleye, said this yesterday, at the Fund’s Special Day during the ongoing 39th Lagos International Trade Fair with the theme, “Connecting Businesses, Creating Value”, reaffirming NSITF’s commitment to a principle that holds the power to transform lives through strength in support.

He reiterated that the Fund would continue to modernise its systems, improve outreach, and deepen impact to bridge the gap between hardship and healing.

Faleye, who was represented by the General Manager of Claims and Compensations of the NSITF, Nkiru Ogunnaike, said: “At the Nigeria Social Insurance Trust Fund, support is not a passive gesture; it is active, deliberate, and deeply human. It is what we provide when a worker is injured, what we extend when uncertainty threatens a family’s stability, and what we build each time we choose social protection over neglect.”

He, however, highlighted some of its achievements as regards compensation to beneficiaries of deceased employees and occupational diseases, among others, stating that the Fund believes that benefit compensation was not just a policy, but also a promise.

According to him, the promise is upheld through a powerful alliance and tripartite structure of the employer, the employee and the government.

President and Chairman of Council, Lagos Chamber of Commerce and Industry (LCCI), Gabriel Idahosa, noted that
NSITF’s contribution to the Nigerian economy goes beyond protection, stating that it provides the foundation upon which enterprises can thrive.

He said that the NSITF provides coverage to more than 183,000 employers and 7.6 million employees nationwide, an impressive scale, he said, underscored its growing impact within the formal economy.