The Nigerian Social Insurance Trust Fund (NSITF) has announced an ambitious plan to significantly broaden its reach by enrolling one million new beneficiaries annually. This initiative is part of a broader strategy to enhance social insurance coverage, including extending benefits to members of the National Youth Service Corps (NYSC).
Mr. Oluwaseun Faleye, Managing Director of NSITF, disclosed these plans during a two-day retreat with the Senate and House Committees on Labour, Employment, and Productivity. The retreat, themed “Building a Stronger NSITF,” is focused on revitalizing and strengthening the Fund’s role in protecting Nigerian workers.
“Our goal is to increase enrollment by one million new beneficiaries each year,” Faleye stated. “Our approach involves extensive public engagement and education to highlight the benefits of the Employees’ Compensation Act (ECA), which provides crucial support for work-related injuries, illnesses, or death.”
Faleye also discussed the initiative to extend NSITF coverage to NYSC members, acknowledging the risks they face while serving the nation. “We are actively exploring ways to include corps members under our social insurance scheme. They play a vital role in national development and deserve protection during their service,” he explained.
The NSITF MD highlighted the need for legislative support in advancing the Fund’s objectives, particularly in digitalization, advocacy, and legal reforms. “The National Assembly is integral to our mission,” Faleye emphasized. “Their support will be crucial in driving digital transformation, enhancing advocacy efforts, and ensuring necessary legal amendments are made to improve compliance.”
Senator Diket Satso Plang, Chairman of the Senate Committee on Employment, Labour, and Productivity, praised the retreat as a vital platform for stakeholder alignment and addressing key challenges. He underscored the Senate’s commitment to supporting NSITF’s modernization efforts, including the push for automation and enhanced operational efficiency.
The retreat marks a significant step in NSITF’s efforts to expand and modernize its operations, aiming to provide comprehensive social protection for a broader segment of the Nigerian workforce.
