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Nigeria’s pension fund assets hits N29.52trn — PenCom
National Pension Commission has disclosed that Nigeria’s pension fund assets increased by about N90 billion to N29.52 trillion as of February 2026, supported by gains in domestic equities and Federal Government securities despite tight liquidity conditions and ongoing portfolio rebalancing.
According to PenCom, fixed income investments continued to dominate pension portfolios, accounting for 58.07 per cent of total assets during the period.
The commission stated that holdings in Federal Government of Nigeria securities rose by 1.28 per cent month-on-month to N17.14 trillion, reinforcing the role of government debt instruments as the primary anchor of pension fund investments.
PenCom’s portfolio breakdown also showed mixed performance across alternative asset classes and investment vehicles.
Estate Investment Trusts (REITs) recorded the strongest growth, surging by 120.88 per cent to N171.48 billion, while private equity investments increased marginally by 0.43 per cent to N259.42 billion.
Real estate assets rose slightly by 0.25 per cent to N169.94 billion, while cash and other assets grew by 3.17 per cent to N463.17 billion.
However, infrastructure funds declined by 25.26 per cent to N224.23 billion, while investments in open and closed-end funds dropped by 3.96 per cent to N170.30 billion.
The commission noted that gains from equities and REITs helped offset declines in money market-related investments during the review period.
PenCom also reported continued growth in pension participation across the country.
Retirement Savings Account registrations increased by 0.44 per cent to 11.18 million contributors, while the number of micro-pension participants rose sharply by 26.53 per cent to 91,399 contributors.
Across pension fund categories, Fund II—the largest pension fund category—declined by 0.58 per cent to N12.59 trillion.
Fund III expanded by 0.97 per cent to N7.53 trillion, while Fund IV increased by 1.53 per cent to N2.34 trillion.
Fund I recorded a stronger growth rate of 3.46 per cent to N560.18 billion, while Fund V surged by 254.31 per cent from a relatively low base.
Meanwhile, assets managed by Closed Pension Fund Administrators (CPFAs) declined by 0.94 per cent to N2.74 trillion.
PenCom stated that mid-risk pension funds continued to retain dominance within the industry’s overall asset structure.
