FG and Employers Clash Over NSITF Levy Hike, Job Loss Concerns Raised

The Nigerian government and private sector employers are at odds over the proposed hike in the Nigeria Social Insurance Trust Fund (NSITF) levy for employee compensation. The Minister of State for Labor, Nkeiruka Onyejeocha, called for a review of the compensation system to ensure fair benefits for families of deceased workers.

However, employers, represented by Seplat Energy Plc (NGX: SEPLAT)'s Dr. Steve Ojeh and Mr. Ken Okoroh, warned of job losses and investment challenges if the levy is increased further. The clash occurred during a stakeholders' forum in Lagos.