Follow Us on Google
From Adanna Nnamani, Abuja
The National Pension Commission (PenCom) has unveiled plans to deepen the pension industry’s participation in Nigeria’s capital market following the growth of pension assets to a record N31.32 trillion as of May 2026.
Director-General of National Pension Commission, Omolola Oloworaran, disclosed the plan on Tuesday while addressing journalists at the Pension Industry Leadership Council (PILC) press conference.
Oloworaran said the commission is engaging more actively with capital market operators to unlock the enormous investment potential of pension funds, describing the industry as the country’s largest source of passive long-term savings capital.
According to her, the commission is determined to ensure that pension assets play a more significant role in supporting capital market development while delivering sustainable returns for Retirement Savings Account (RSA) holders.
“The pension fund industry probably has the largest pool of passive long-term savings capital in the country. We need to become more engaged in terms of what is happening in the capital market. I think this year we’re engaging more than we’ve ever done,” she said.
She noted that PenCom remains focused on safeguarding contributors’ retirement savings through prudent investment strategies and stronger regulatory oversight.
The PenCom boss also revealed that the commission, working with the Independent Corrupt Practices and Other Related Offences Commission, has successfully recovered more than N3 billion in unremitted pension contributions from defaulting employers.
To strengthen compliance further, she announced that PenCom would partner with the Economic and Financial Crimes Commission to ensure employers meet their statutory pension obligations.
Other News
She added that implementation of the proposed Pension Industry Infrastructure Fund (PIIF) has reached an advanced stage, positioning the pension industry to increase investments in critical infrastructure projects that can support Nigeria’s economic development while generating long-term returns for contributors.
Oloworaran also disclosed that the commission is expanding collaboration with state governments and organised labour to improve accountability, strengthen enforcement of pension laws and protect the retirement savings of Nigerian workers.
The latest initiative comes as Nigeria’s pension industry continues to record impressive growth despite macroeconomic headwinds.
Recent data released by PenCom showed that Pension Fund Administrators (PFAs) significantly increased their exposure to the domestic equities market during the first quarter of 2026.
Investments in Nigerian listed equities climbed to N5.46 trillion as of March 2026 from N3.96 trillion at the end of 2025, representing a 38.09 per cent year-to-date increase.
The surge reflects improved investor confidence in the stock market, stronger market performance and deliberate efforts by pension fund managers to diversify investment portfolios beyond traditional fixed-income securities.
Industry analysts say the continued expansion of pension assets has been supported by higher interest rates, which have boosted returns on government securities and money market instruments.
With assets now exceeding N31 trillion, Nigeria’s pension industry has become one of the country’s largest pools of long-term domestic capital, providing a critical source of funding for government borrowing, supporting capital market growth and strengthening retirement security for millions of workers.
Analysts expect the industry’s assets to continue growing in the coming months, driven by steady pension contributions, improved investment income and increasing participation in the Contributory Pension Scheme.
