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By Chinelo Obogo
The chief executive officer (CEO) of Pension Fund Operators Association of Nigeria (PenOp), Oguche Agudah, has said the personal pension plan of self employed Nigeria increased by 765.8 percent in the past four years.
The personal pension plan was created to extend retirement savings coverage to self-employed individuals and informal sector workers.
Agudah who spoke to NAN on Tuesday in Lagos, said the scheme has become one of the fastest-growing in Nigeria’s pension industry, with an increase from N168.63 million in 2021 to N1.46 billion in 2025.
“The Personal Pension Plan is set to remain a cornerstone of Nigeria’s financial inclusion strategy. With its simplified branding, tech-driven contributions, and expanding awareness, it is poised to reach more Nigerians in the coming years.
“Stakeholder collaboration and targeted support will be critical to sustain this momentum and ensure long-term impact,” Agudah said.
The PenOp boss said the rebrand from a micro pension plan to a personal pension plan, was done to stay aligned with current realities.
Agudah added that the plan will drive Nigeria’s financial inclusion strategy with streamlined branding, technology-driven contributions, and amplified awareness initiatives.
