Yemisi Izuora
Contributors under Nigeria’s new Pension Scheme has reached 10.71 million, according to the National Pension Commission (PenCom).
The Commission also disclosed that Nigeria’s pension funds assets has grown to N23.65 trilllion as at April 31, 2025 from N23.32 trillion recorded in March 31, 2025.
According to the Agency, despite this, it has only been able to capture 10.71 million contributors under the Contributory Pension Scheme (CPS) during the period under review from 10.68 million recorded in the previous month.
This is contained in the newly released Unaudited Report on Pension Funds Industry Portfolio for the Period Ended 30 April 2025 by PenCom.
However, the Africa Finance Corporation (AFC) has said that despite Nigeria holding one of the largest pools of institutional capital in Africa, the effective deployment of its pension assets, now totaling N23.6 trillion, is still constrained by structural challenges, chiefly credit and liquidity risks.
The AFC made this known in its newly released State of Africa’s Infrastructure (SAI) Report.
According to AFC, as of January 2025, Nigeria’s pension system had amassed over N22.8 trillion approximately US$14.2 billion in assets under management, underscoring its potential as a major driver of infrastructure development.