The Director General of the National Pension Commission (PenCom), Ms. Omolola Oloworaran, has disclosed that the Nigerian pension industry has committed N5.51 trillion to asset classes that support long-term financing in the real sector.
The commission also revealed that industry Net Asset Value (NAV) rose by 22.65% from N18.36 trillion in December 2023 to N22.51 trillion by the end of 2024, driven by fresh contributions and investment returns.
Oloworaran made the disclosure during a meeting with a delegation from the International Monetary Fund (IMF), led by Senior Financial Sector Expert Mr. José De Luna, as part of the IMF’s 2025 Article IV Consultations.
According to a statement from PenCom, the investments cover infrastructure, private equity, real estate, and sub-national development initiatives.
Represented by the Head of Surveillance, Abdulrahaman Muhammad Saleem, the DG emphasised that pension funds have become crucial in financing national development and economic growth.
However, Oloworaran lamented the limited availability of investable instruments that meet the regulatory standards for pension funds.
“Only 86 instruments currently meet the quality and liquidity requirements of the Pension Broad Index,” she said, despite provisions in the Investment Regulation aimed at expanding eligible investment outlets.
PenCom pledged to continue working with capital market stakeholders to diversify investment options and improve real returns, including exploring more alternative asset classes.
The agency also reiterated its commitment to strengthening the long-term sustainability of the Contributory Pension Scheme (CPS) through regulatory innovation and strategic partnerships with bodies like the Securities and Exchange Commission (SEC), the Debt Management Office (DMO), and the Pension Fund Operators Association of Nigeria (PenOp).
The IMF delegation, in response, commended PenCom’s efforts to diversify its investment portfolio and praised the regulatory framework underpinning Nigeria’s pension industry.
