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Nigeria’s pension assets jumped by 51 per cent in two years to teach N31.48 trillion, according to the National Pensions Commission (PenCom).
According to the regulatory, nationwide membership of the country’s contributory pension scheme also grew by nearly 1 million workers to 11.32 million.
PenCom boss, Omolola Oloworaran told reporters, Tuesday, that assets under management increased from N20.79 trillion in July 2024, a rise attributed to stronger confidence in the pension system.
Oracle Intelligence recalls that a N758 billion Federal Government of Nigeria (FGN) bond helped clear obligations dating back to 2007, benefiting 957,045 people through pension increases, accrued rights payments and other retirement benefits, PenCom said.
The regulator said accrued pension rights had swung from 21 months in arrears in July 2024 to a 41-month surplus, while benefit approvals are now processed within 48 hours.
