OPSN warns Senate against NSITF governance changes
Nigerian business groups rejected proposed changes to the Social Insurance Trust Fund that would reduce private sector oversight and increase government control. Five directors general from organizations representing manufacturers, employers and small businesses said the Senate amendments violate international labor standards ratified by Nigeria.
The fund operates under a tripartite structure shared by government officials, employers, and workers as required by International Labor Organization conventions. Proposed legislation would replace contributor representatives with political appointees, threatening transparency and accountability for millions of workers who depend on benefits.
Business leaders warned that politicized social security systems worldwide have produced inefficiency and lost public confidence. The organizations pledged to use international mechanisms to block any amendments that weaken stakeholder participation in fund management.
The groups urged President Bola Tinubu and Senate President Godswill Akpabio to focus instead on passing stalled labor law reforms. The delayed legislation would modernize workplace safety rules, improve dispute resolution and align Nigerian employment standards with global practices.
