Nigeria’s Pension Assets Hit Over N25 Trillion — PenCom DG
The Director-General of the National Pension Commission (PenCom), Ms. Omolola Olowororan, has announced that Nigeria’s pension assets have surpassed ₦25 trillion, marking a major milestone in the country’s pension industry and contributing significantly to national economic growth.
Olowororan made the disclosure while speaking at a recent industry event, where she highlighted the steady growth of pension funds under the Contributory Pension Scheme (CPS) since its inception. She noted that the growth reflects increased compliance among employers, improved regulatory oversight, and confidence in the pension system.
According to her, the accumulated pension assets are not just sitting idle but are being channeled into strategic investments that support key sectors of the economy, including infrastructure, bonds, equities, and other financial instruments that promote sustainable national development.
“We are proud of the progress made so far. The pension industry has grown to become a critical driver of economic stability and development. Our goal is to continue ensuring that pension funds are safe, well-managed, and invested in ways that benefit contributors and the nation at large,” she said.
The PenCom DG also reaffirmed the Commission’s commitment to transparency, accountability, and innovation in the management of pension funds. She stressed that ongoing reforms within the sector aim to expand coverage, particularly to workers in the informal sector, through the Micro Pension Plan initiative.
Financial analysts have described the ₦25 trillion milestone as a testament to the resilience of Nigeria’s pension system, which has continued to expand despite economic challenges, currency fluctuations, and inflationary pressures.
Olowororan urged stakeholders, including Pension Fund Administrators (PFAs) and employers, to sustain the momentum by ensuring prompt remittances and compliance with pension laws to guarantee the long-term sustainability of the scheme.
