By Paul Ebi
Abuja — The Organised Private Sector of Nigeria (OPSN) has strongly rejected the proposed amendment to the Nigeria Social Insurance Trust Fund (NSITF) Act, describing it as an attempt by the Senate to take over the Fund and undermine the interests of employers and workers.
In a joint statement issued by the Nigeria Employers’ Consultative Association (NECA), the Manufacturers Association of Nigeria (MAN), and the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), the OPSN warned that the amendment would erode the tripartite structure that has governed the Fund since its inception.
According to the statement, the proposed legislative changes would give the government undue control over the NSITF, which was originally designed to operate as a partnership between government, employers, and labour representatives.
> “The Senate’s proposal is an overreach that threatens the very foundation of social dialogue and collaboration among the tripartite partners. The NSITF is not a government agency but a trust fund managed for the benefit of Nigerian workers,” the OPSN said.
The groups cautioned that the amendment could discourage private sector participation and weaken confidence in Nigeria’s social insurance system, which provides compensation to employees in cases of injury, disability, or death sustained in the course of employment.
They urged the National Assembly to consult widely with the tripartite partners before proceeding with any amendment to the NSITF Act, noting that the existing framework aligns with global best practices as recommended by the International Labour Organization (ILO).
> “We call on the Senate to halt the proposed amendment process and instead work with stakeholders to strengthen governance and efficiency within the Fund, rather than attempt an outright takeover,” the OPSN added.
The NSITF has recently come under increased public scrutiny over issues of governance and accountability, prompting calls for reform. However, the OPSN insists that any reform should respect the existing tripartite management structure to ensure fairness and transparency.
