Trained workforce key to economic growth — NSITF MD
By Ukpono Ukpong
The Managing Director, Nigeria Social Insurance Trust Fund (NSITF), Oluwaseun Faleye, has emphasized that a trained workforce is the foundation for Nigeria’s economic growth and rapid industrialization.
He stated that increased productivity and industrial advancement can only be achieved through skill development and manpower training.
Faleye made this assertion while receiving the Senior Special Assistant to the President on Industrial Training and Development, Adamson Olawatosin Ayide, and his team during a courtesy visit to the Fund’s corporate headquarters.
He highlighted the crucial role of a skilled workforce in national development, stressing, “It is the foundation for economic growth and sustainability in the country.”
The NSITF boss maintained that efforts toward industrialization and manpower development in Nigeria must be centered on workforce training, as productivity and economic expansion depend on it.
According to him, “Increased productivity in the country and rapid industrialization resonate deeply on a trained workforce. In fact, it is indeed the foundation for economic growth and sustainability.”
Explaining further, the NSITF MD said, “A trained workforce is not just beneficial; it is essential.Through ongoing training, retraining, and skill development, we empower our people to earn a decent living. This responsibility falls on all of us, and those in leadership must be supported in these endeavours.”
Speaking on the benefits of a skilled workforce in the country and a proposed collaboration with the NSITF, Faleye posited, “This collaboration will facilitate mutual benefits across various sectors in Nigeria. The rationale for this partnership is evident by training individuals and equipping them with the necessary skills for gainful employment.
“NSITF can step into the process, provide support and services that benefit both workers and employers. Economic development is an interconnected responsibility that requires cooperation among various agencies and departments.
“We can not operate in silos,our efforts must be aligned and amplified for maximum impact. l assure you that NSITF is prepared to commit both human and financial resources to the forthcoming national industrial manpower summit.”
To this end, he praised the SSA for his commitment to industrial development in the country, thanking Mr. President for recognizing the importance of placing the right individuals in crucial roles.
He assured him of support from the Fund to ensure the success of the national industrial summit.
His words: “l appreciate your recognition of the collaborative nature of this endeavour. It is crucial that we work together across various agencies and departments to ensure that our initiatives are not only effective but also mutually beneficial.”
Earlier, in his address, the Senior Special Assistant industrial training and development, said “The mandate of my office is clear—to support Ministries, Departments, and Agencies (MDAs), as well as strategic private organizations, in the development of industrial manpower.
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“In today’s rapidly evolving economic landscape, skills development is not just an option but a necessity for national progress. We believe that a robust, skilled workforce is the backbone of industrial growth, economic sustainability, and social stability.
“We recognize the critical role NSITF plays in protecting and empowering the Nigerian workforce. Your commitment to social security and employee welfare aligns with our vision for a skilled, protected, and productive labour force. It is for this reason that we seek to establish a strategic collaboration between our offices—one that will enhance skill acquisition efforts across industries, ensuring that Nigerian workers are not only well-trained but also well-supported”, he added.
