By Chinedu Echianu
The Managing Director and Chief Executive Officer of the Nigeria Social Insurance Trust Fund (NSITF), Barrister Oluwaseun Faleye, has called for stronger collaboration among government, employers and workers to drive sustainable economic growth, improve enterprise competitiveness and promote inclusive national development.
Faleye made the call on Monday in Abuja while delivering a goodwill message at the 5th Annual Summit of the Nigeria Employers’ Consultative Association (NECA), where he stressed that partnership remains the foundation for lasting economic progress.
Speaking on the summit’s theme, “Leveraging Reforms and ESG for Enterprise Competitiveness and Inclusive National Growth,” the NSITF boss described the discussions as timely, noting that businesses across Nigeria are adjusting to major economic reforms while seeking innovative ways to remain competitive.
“Across the country, businesses are adapting to reforms, responding to new realities and seeking innovative ways to remain competitive while creating value for society,” Faleye said.
Drawing on a popular Nigerian proverb, he underscored the need for cooperation among all stakeholders.
“The left hand washes the right, and the right hand washes the left. Lasting progress is built on partnership,” he said, adding that government, employers and workers all have complementary roles in building a resilient and prosperous economy.
According to him, greater trust and shared responsibility among the three groups will create an environment where businesses can thrive while workers enjoy better protection and opportunities.
Faleye also rejected the notion that worker welfare and business success are competing priorities, insisting that both are mutually reinforcing.
He explained that a safe, protected and motivated workforce is more productive and resilient, while organisations that prioritise employee welfare are better positioned to build sustainable and competitive enterprises.
Highlighting the importance of the Employees’ Compensation Scheme, the NSITF chief described it as a vital pillar of Nigeria’s social protection system, providing essential support for workers while offering employers a fair and predictable framework for managing workplace risks.
“As Nigeria pursues economic reforms, we must remain deliberate in ensuring that growth is inclusive and that no segment of our workforce is left behind,” he said.
Faleye commended NECA for sustaining its annual summit, expressing confidence that the two-day gathering would produce practical recommendations to strengthen enterprise competitiveness, deepen public-private collaboration and accelerate Nigeria’s economic development.
The NECA Annual Summit brings together private sector leaders, policymakers and labour stakeholders to discuss strategies for improving Nigeria’s business environment and fostering inclusive economic growth.
