Nigeria’s pension fund assets have seen a significant increase, reaching N19.53 trillion by January 31, up from N18.36 trillion at the end of December 2023. This growth of N1.17 trillion was reported by the National Pension Commission (PenCom) in their latest unaudited report on the Pension Funds Industry Portfolio.
According to PenCom, there are currently 10.22 million Retirement Savings Account (RSA) subscribers. The majority of the fund, amounting to N12.14 trillion, has been invested in Federal Government securities. Additionally, N11.59 trillion is allocated to bonds, N221.81 billion to treasury bills, N14.86 billion to agency bonds, N124.89 billion to Sukuk bonds, and N181.57 billion to green bonds.
State government securities have received N270 billion in investments, while money market instruments hold N1.71 trillion. The total value of the fund assets in US dollars is reported to be N14.39 billion, calculated at an exchange rate of N1,356 per dollar.
This growth in Nigeria’s pension fund assets reflects a positive trend in the country’s financial sector. With a diverse portfolio of investments, the pension fund is well-positioned to provide long-term financial security for millions of RSA subscribers. PenCom’s transparent reporting ensures accountability and trust in the management of these vital funds.
