Nigeria’s pension assets rises to N26.09 trillion

Nigeria’s pension assets rose to N26.09 trillion in September 2025, up from N25.90 trillion in August, according to new data from the National Pension Commission. The increase represents 0.75 percent month-on-month and a 23.44 percent jump year-on-year, reflecting steady growth despite economic headwinds. PenCom also reported that registrations under the Contributory Pension Scheme increased by 0.42 percent to 10.93 million.

Government securities remained the main anchor of pension investments, accounting for 60.35 percent of total assets. While FGN bonds, sukuk and agency bonds recorded declines, Treasury Bills, Green Bonds and State Government Securities posted gains. Domestic equities rose 1.47 percent to N3.66 trillion, while foreign ordinary shares were largely unchanged, suggesting a modest increase in equity exposure by fund managers.

Corporate debt holdings climbed slightly to N2.24 trillion, driven by growth in corporate bonds held to maturity, although available-for-sale bonds dipped. Money market instruments provided continued stability, rising 0.74 percent to N2.42 trillion, with strong contributions from fixed deposits, bank acceptances and foreign money market instruments. Commercial paper, however, fell sharply.

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Alternative investments saw mixed performance, with gains in REITs but declines in mutual funds, open-end funds, private equity and real estate assets. Cash holdings expanded significantly by 78.45 percent to N518.95 billion, indicating a tactical shift toward liquidity. Across the RSA funds, Fund II remained dominant with N10.96 trillion, while Funds III, I, IV, V and VI also recorded growth, underscoring continued resilience across the pension system.