MARGARET CHIDERA
ABUJA, Nigeria – In a remarkable stride towards fulfilling the social security objectives outlined in the 8-Point Agenda, the Nigeria Social Insurance Trust Fund (NSITF) has announced the successful disbursement of social benefits to 20,531 Nigerians across various packages of claims and compensation.
Under the visionary leadership of the Tinubu administration, NSITF has surpassed expectations, reaching out to injured workers, dependants, and individuals in need, reaffirming its pivotal role in enhancing human capital through social investments.
In a statement in Abuja at the end of 2nd edition of the Fund’s monthly online Management Performance Review (MPR), the Fund’s General Manager, Corporate Affairs, Nwachukwu Godson, stated that the Agendum No 6 of the 8-Point Agenda of the Tinubu administration captures social security, and remarked that the NSITF has leveraged on the essentials of the Employees’ Compensation to positively touch thousands of lives in the world of work within the year in review.
Nwachukwu Godson, emphasised the significance of this achievement, highlighting the Fund’s legacy in the social security sector.
“Being a leading Social Security Institution with over six decades in the sector confers on us, a huge role in the actualisation of the Agendum No. 6 of the 8-Point Agenda of the President on the enhancement of human capital through social investments.
“While the NSITF reached out to 103, 000 injured workers with different categories of social security benefits in 12 years (2011 and 2023), the current management of the Fund widened the outreach with an extensive inroad, dispensing benefits to an unprecedented 20,531 persons under different baskets of claims and compensations in one year (March 2023- May 2024)
“A close-up of this figure (20,531) is necessary at this instance to substantiate this fact as the micro portion of a long list below suffices.”
With a comprehensive approach, NSITF extended its reach to previously underserved segments, including the informal sector, collaborating closely with Small & Medium Enterprises (SMEs) to stimulate food production and boost agricultural activities, a key component of the 8-Point Agenda.
“Besides, our foray into the informal sector, a strategic area that houses over 80% of Nigerians is paying off as we have established close collaboration with various associations in the Small & Medium Enterprises (SMEs). Because some of these associations are involved in the agricultural concerns, it connects directly to our aim of gingering food production, which again is at the heart of Agendum No 3 of the 8-Point Agenda.”
Beyond disbursing benefits, NSITF prioritised occupational safety and health, conducting 5,592 exercises to prevent workplace accidents.
The agency underwent strategic restructuring, implementing a dynamic management performance review system to enhance productivity. Introducing new branch-in-branch service centers, NSITF ensured accessibility to its services across Nigeria.
Furthermore, NSITF’s commitment to transparency and efficiency is evident in its legal reforms, debt recovery efforts, and streamlined certification processes for employers.
By revitalizing staff conditions, implementing a new salary structure, and enhancing healthcare provisions, NSITF rejuvenated its workforce and upheld its commitment to staff welfare.
“As part of the strategic restructuring , the management introduced a three-tier management performance review of monthly online MPR, half-year regional MPR, and the yearly Central MPR. The result of this dynamic peer review has filled in gaps , resulting in higher productivity . For the first time in the history of the Fund, the 2023 year target was overshot .”
“To expand the frontiers of the ECS and bring its numerous benefits to the doorstep of all workers, the current management created four new branch-in branch as well as service centres to take the ECS to the recess of Nigeria.
“The Fund’s Legal Department was also re-organised, imbued to tackle legal challenges, winning many cases against recalcitrant employers, recovering debts and remarkably reduced the amount hitherto spent on legal services.
“To make the issuance of the compliant certificate easier for employers, the management also divested 90% of the processes and handed them to the branches and regions who are mostly in direct interface with employers. The Fund also ensured close partnership with its largest contributor, NECA, to beat down under-cutting by employers who base contributions on basic, housing and transport instead of total emoluments.
“To rejuvenate the workforce, we reviewed the Staff Conditions of Service which has been in use for nearly 30 years and introduced a new integrated salary structure, approved by the National Salaries Incomes and Wages Commission, promptly paying the N35,000 minimum wage award.
“We moved a step further to reform the health management plan to ensure increased and quality medical care for staff and cleared the backlog of gratuity.
The Managing Director, Maureen Allagoa, underscored the importance of feedback and accountability, signaling the agency’s dedication to continuous improvement.
“This administration values feedback which the MPR generates and does not take them for granted. It is, therefore, my expectation that this 2nd edition will also avail management of your input on how best to improve performances fundwide.”
As NSITF celebrates this milestone, it remains steadfast in its mission to foster social security and economic prosperity for all Nigerians.
