Nigeria TV Info — Manufacturing, Agric Sectors Threaten Nigeria’s Industrialisation, NSITF Warns

The Managing Director of the Nigeria Social Insurance Trust Fund (NSITF), Oluwaseun Faleye, has warned that neglecting worker welfare in the manufacturing and agricultural sectors could undermine Nigeria’s industrialisation drive. He gave the warning in Abuja while receiving the leadership of the Oil Producers Trade Sector (OPTS) of the Lagos Chamber of Commerce during a courtesy visit to his office.

Faleye stressed that the long-term security and welfare of workers often outweigh demands for wage increases, urging employers to prioritize policies that demonstrate genuine concern for employees’ futures.

He said: “You need to highlight your efforts at meeting their welfare demands through compensation schemes, health benefits, and other measures, and tie this to outputs. Workers’ demands are not always tied to salary and wage increases. The need to assure their future often takes priority.”

The NSITF Managing Director also called for strict compliance with the Employees Compensation Act (ECA) to be made a prerequisite for awarding contracts.