By Abbanobi -Eku Onyeka
The Nigeria Social Insurance Trust Fund (NSITF) has thrown its weight behind the proposed Nigeria Social Security Trust Fund Bill, 2025, hailing it as a landmark reform that will strengthen the country’s social protection architecture and resolve longstanding operational contradictions.
The Managing Director and Chief Executive of NSITF, Mr. Oluwaseun Faleye, presented a memorandum to the Senate Committee on Labour and Employment, stating that the bill marks a decisive step towards modernizing Nigeria’s social security framework in line with global standards.
According to Faleye, the proposed legislation will help reposition NSITF after years of structural constraints arising from overlaps between the existing NSITF Act and the Employees’ Compensation Act (ECA) 2010. He commended the Senate for its strategic and forward-looking legislative intervention.
One of the significant elements of the bill is the repeal of both the NSITF Act of 1993 and the ECA 2010, which have resulted in operational ambiguities. The consolidation of the two Acts into a single, coherent statute is expected to eliminate duplication, resolve conflicts, and strengthen the legal framework of the Fund.
The bill also proposes the expansion of social security coverage to include informal sector workers and self-employed persons, a move described as “a historic step” towards inclusive protection for all categories of working Nigerians.
Other provisions commended by the Fund include electronic submission of claims to reduce delays, recognition of multiple spouses and dependants in line with local customs, creation of trust accounts for minors, and the inclusion of trado-medical practitioners in the treatment process for injured workers.
Faleye also praised provisions allowing the Board to periodically update occupational disease schedules, enforce stricter workplace safety standards, impose penalties for failure to report workplace accidents, and invest in real estate as a new asset class.
However, the NSITF raised concerns about the misapplication of the term “Board” throughout the document, warning that it could create confusion and weaken accountability. The Fund recommended clearer definitions to distinguish between the Governing Board, Management, and the Agency.
The public hearing on the bill drew stakeholders from organized labour, employer groups, ministries, and civil society, marking a significant step in the effort to overhaul Nigeria’s social security system.
The proposed Act is expected to strengthen the foundation of social protection in Nigeria and enhance the welfare, safety, and dignity of Nigerian workers.
