Nigeria’s pension fund assets have achieved a significant milestone, recording a 22.03% growth by the end of the third quarter of 2025. The latest figures from the National Pension Commission show that total assets under the Contributory Pension Scheme expanded from ₦21.38 trillion in September 2024 to ₦26.09 trillion in September 2025, representing an increase of more than ₦4.71 trillion. The ₦25 trillion mark was first surpassed in July when assets closed at ₦25.79 trillion, with further growth in August adding ₦97.88 billion to reach ₦25.89 trillion.

Federal Government of Nigeria securities, including bonds, Sukuk, treasury bills, and agency instruments, continue to dominate pension fund investments, accounting for about 60% of total assets. Pension Fund Administrators increased their exposure to these instruments by roughly ₦3 trillion between September 2024 and September 2025, reflecting confidence in government-backed securities despite economic uncertainties. At the same time, pension funds expanded their participation in the equities market, with Domestic Ordinary Shares rising by about ₦1.6 trillion year-on-year, driven by stronger valuations, improved liquidity, and positive investor sentiment. Corporate debt instruments also attracted higher allocations, supported by renewed activity in the bond market and better credit conditions for top-rated issuers.

The industry recorded moderate growth in Retirement Savings Accounts, with membership rising to approximately 10.9 million. This was aided by stricter compliance enforcement, onboarding of new private-sector employees, and wider adoption of the rebranded Personal Pension Plan. PenCom has stressed the importance of extending pension coverage to Nigeria’s vast informal workforce, estimated at 70–80 million people. Speaking at the Annual Conference of the Pension Correspondents Association of Nigeria, Director-General Omolola Oloworaran described the revamped micro-pension framework as central to closing the country’s pension gap. She noted that artisans, traders, freelancers, gig-economy workers, and market operators—who play a vital role in powering the economy—remain largely excluded from structured retirement savings.

To address this, PenCom is prioritizing digitisation to rebuild trust and simplify participation in the Personal Pension Plan. Contributors now receive instant confirmation of payments and real-time access to account statements, while Pension Fund Administrators and accredited agents are deploying mobile-friendly platforms to ease onboarding. Contributions under the PPP will be managed through a dedicated investment structure offering both conservative and growth options tailored to contributors’ preferences. The initiative is expected to deepen financial inclusion, mobilise long-term domestic capital, and secure dignified retirement outcomes for millions of Nigerians who have previously been left out of the pension system.