NSITF disburses over N1.1 billion in compensation payments
The Nigeria Social Insurance Trust Fund has disbursed over N1.1 billion to workers and families impacted by workplace accidents and diseases. Management stated that this compensation, delivered through the Employees’ Compensation Scheme, demonstrates a commitment to strengthening social protection for both formal and informal sector workers.
Specific payouts included over N42 million to the family of a deceased Depthwize Oil & Gas worker, with ongoing monthly benefits. The Fund also reported significant compensation for families of employees from Mobil Producing Nigeria Plc, Nigerian Breweries Plc, and a N484 million payment to 39 Nigerian Customs Service employees. Other companies, like Shell Exploration and Zenith Bank, were also listed as recipients. Officials emphasized that providing these benefits constitutes justice and empowerment, not charity, and is vital for national prosperity.
The President of the Lagos Chamber of Commerce and Industry, Gabriel Idahosa, highlighted the Fund’s role in the business environment, noting its coverage of over 183,000 employers and 7.6 million employees. He revealed that the NSITF aims to add one million new subscribers each year as part of its expansion, with a particular focus on bringing informal sector workers under this social security net.
